Breakout System | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another simple breakout system 32 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

Puppy's Breakout system~~ 14 replies

Breakout system with JL-Lines 102 replies

Hans123 Breakout System..Seeking help 8 replies

Attachments: Breakout System
Exit Attachments

Breakout System

  • #1
  • First Post: Edited May 3, 2009 6:39am Feb 27, 2009 11:59pm | Edited May 3, 2009 6:39am
Hi everyone,

This is my first post here, I'll attempt to descirbe this system I have been trading.

Great for London Open


1. Chart Set Up.

GBPUSD Time Frame 15 Mins

Indicators : SMA Period 21
9 Period Bollinger Bands Standard Deviation Set at 1. Levels set at 0.75 and -0.75

2. Entry Rule :

SMA must be Pointing down for a short entry. Bollinger Bands must be Pointing down for a short entry.

Set Up Candle must be a candle where the Open is in the Top 30% of the Candle and the Close is in the Bottom 30% of the Candle. This indicates a significant move down. The Candle must close outside of the bollinger bands. This candle is called a Down Bar Candle.

Trade Entry is set at 1 Pip Plus Spread below the Low of the Set Up Candle.

Exit is set at 2/3xATR at the time of the Trade. Initial Stop Loss is Set at 1xATR at the time of the Trade.

That describes a Short Trade. The opposite is true for a Long Trade.

I'll attach a chart.

Added Alert for Up and Down Candles. Need to put it in Expert Folder and attach to chart as an expert.

Kind thanks to PipPicker for his expert help on Breakout Expert Advisor.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 68 KB
Attached File(s)
File Type: pdf Breakout EA Manual.pdf   90 KB | 3,428 downloads | Uploaded Mar 25, 2009 6:25am
File Type: mq4 Pivots_Daily_PipPicker.mq4   17 KB | 1,597 downloads | Uploaded Apr 7, 2009 11:27am
File Type: mq4 BreakoutAlert_V1.10.mq4   46 KB | 2,010 downloads | Uploaded May 3, 2009 6:39am
  • #2
  • Feb 28, 2009 12:22am Feb 28, 2009 12:22am
That is the basic initiation trade.

Use that to gain regular pips everyday.

System is based on using two positons. One position uses a Take Profit Target.

The second position has the same stop loss as the first except no Take Profit Target. The second position is used to attempt to trail with the trend.

Stop Loss of second position is moved whenever a new downbar is formed and put 1pip plus spread above the high of it.

Keep moving Stop of second position until stopped out.
  • #3
  • Feb 28, 2009 12:29am Feb 28, 2009 12:29am
Statement of trades in last few days.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 97 KB
  • #4
  • Feb 28, 2009 1:37am Feb 28, 2009 1:37am
Hello Musashi

i am happy with what u post and i will keep visiting ur thread ..

thanx
Never sell @ lower upward channel unless breacked and vise versa .
  • #5
  • Feb 28, 2009 2:55am Feb 28, 2009 2:55am
thanks man to share
  • #6
  • Feb 28, 2009 3:26am Feb 28, 2009 3:26am
Some live trade charts

Bit small sorry.
Attached File(s)
File Type: zip gbptrades.zip   180 KB | 1,834 downloads
  • #7
  • Feb 28, 2009 4:12am Feb 28, 2009 4:12am
What is the period of your Bollinger Bands?
They can't be the standard 20. The 21 SMA looks too much different than the bands.

Also, I don't understand "levels", in relation to Bollinger Bands.

Quote
Bollinger Bands Standard Deviation Set at 1. Levels set at 0.75 and -0.75
  • #8
  • Feb 28, 2009 4:20am Feb 28, 2009 4:20am
Sorry I missed that in the original Post.

9 Periods for Bollinger Bands.
  • #9
  • Feb 28, 2009 4:25am Feb 28, 2009 4:25am
Quoting Musashi
Sorry I missed that in the original Post.

9 Periods for Bollinger Bands.
Thank you.

Trading time?
  • #10
  • Feb 28, 2009 5:38pm Feb 28, 2009 5:38pm
Quoting billbss
What is the period of your Bollinger Bands?
They can't be the standard 20. The 21 SMA looks too much different than the bands.

Also, I don't understand "levels", in relation to Bollinger Bands.
How to set up bollinger bands.

Trade the London Open is best time, europe session.

To set the levels click add and then type in 0.75 and -0.75

Select none for bollinger bands paramaters to make standard bollinger band levels invisible.
Attached Images
  • #11
  • Feb 28, 2009 6:38pm Feb 28, 2009 6:38pm
With all due respect to the threadstarter, what is being described here is basically Randy Candles set to a M15 time frame. Search "randy candles" here and you'll see what I mean.

Musashi is using BB's + an SMA, RC uses 3 SMA's and the Heiken Ashi Smoothed indi.

Mushasi's entry candle is what Randy calls a Zorro. The opposite is called a Chili.

Randy himself does use the M15 like Musashi, but I like using them on M3-M5 personally.

No disrespect meant to Musashi. Great minds think alike. He found a good thing, but didn't know it had already been worked out years ago.
" Average traders look to the left, great traders look to the right."
  • #12
  • Feb 28, 2009 7:24pm Feb 28, 2009 7:24pm
How about it, its breakout system or not?

Quote
Attached Image (click to enlarge)
Click to Enlarge Name: supersignal.gif Size: 21 KB
Result for 4 day

Quote
http://s5.tinypic.com/2qxtaid.jpg
Quote
http://s5.tinypic.com/2ytv3f5.jpg
  • #13
  • Feb 28, 2009 8:14pm Feb 28, 2009 8:14pm
Quoting biax
How about it, its breakout system or not?

Result for 4 day

What are you trying to show Biax?
  • #14
  • Feb 28, 2009 8:32pm Feb 28, 2009 8:32pm
are you going to post the indicator biax?
  • #15
  • Feb 28, 2009 8:35pm Feb 28, 2009 8:35pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting biax
How about it, its breakout system or not?

Result for 4 day
impressive results, chart arrows lok like goldminer (repainting)
  • #16
  • Feb 28, 2009 10:46pm Feb 28, 2009 10:46pm
Quoting Musashi
Hi everyone,

This is my first post here, I'll attempt to descirbe this system I have been trading.

Great for London Open


1. Chart Set Up.

GBPUSD Time Frame 15 Mins

Indicators : SMA Period 21
9 Period Bollinger Bands Standard Deviation Set at 1. Levels set at 0.75 and -0.75

2. Entry Rule :

SMA must be Pointing down for a short entry. Bollinger Bands must be Pointing down for a short entry.

Set Up Candle must be a candle where the Open is in the Top 30% of the Candle and the Close is in the Bottom 30% of the Candle. This indicates...

Hi Musahsi,

looks great this system, sl 50/30 from entry point.
GJ last week movement see the weekly pivot point, and the clear signal SELL/BUY with sl 50/30 pips from the entry point


rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 35 KB
  • #17
  • Feb 28, 2009 10:46pm Feb 28, 2009 10:46pm
Quoting onu
impressive results, chart arrows lok like goldminer (repainting)
Yeah I know, its repaint but my focus in Fibo, so super signal just my triger to open position if arrow up/down show between fibo line...
  • #18
  • Feb 28, 2009 10:50pm Feb 28, 2009 10:50pm
Quoting Musashi
What are you trying to show Biax?
I just to tell, about my system.. its breakout system or not? same with you my trading @ london open, and I just found two signal to Open position in one day...
  • #19
  • Feb 28, 2009 10:53pm Feb 28, 2009 10:53pm
Quoting blanca
are you going to post the indicator biax?
I will if my trading result in one month is consisten
  • #20
  • Mar 1, 2009 3:24am Mar 1, 2009 3:24am
Quoting biax
I will if my trading result in one month is consisten
please send youy indicator so we can try it also
thank you
0 traders viewing now