HI Breakout Strategy

I'm posting a simple breakout strategy that I've been trading/watching over the past few weeks. The rules are simple...

Wait for an obvious compression of bollinger bands inside the keltner channel. When this compression appears....take the trade in the direction of the chalkin money flow on the candle that crosses the zero line.

Here are a couple of trade examples:

EU


EJ


UChf


I've been tinkering with a couple of stop and TP options. Personally I like moving to breakeven at X pips and then trailing with the middle line of the bollinger bands.

I wonder if there is any interest to be on the alert for trades that are setting up using this approach and posting them here in advance. Not something I want to do alone....but with a larger group....we could cover all the tradeable pairs.

Cheers
CanuckCT

Here's an example of a failed breakout setup followed immediately by a winner.

EURAUD



Cheers
CanuckCT

interesting method, i look the breakout method often ! thx you.

GBPJPY


EURCHF


Cheers
CanuckCT

Subscribed and btw I love your triangular abands alert indicator use it all the time.

Eamonn

Thanks Canuck

Thanks a lot CanuckCT for sharing your approach to the market with this interesting and accurate point of view (as usual from you). I offer two more charts of today following your ideas.

Cheers

Interesting method, will keep an eye on it. I presume the discretionary element to this method will be the amount of "compression" seen on the BBs...from one trader to another. I already see (in the example someone posted) that the temptation will be to look at the ChalkinMF indicator, see a cross of the 0 line and then "see" compressed BBs. From my BB experience, the tighter the BB squeeze, the better the BO (and longer lived), though when coming out of a BB tight squeeze, MMs are known to do a fake-out move first before the true move.

Thanks for sharing, Canuckt.

Best Regards,
NeoRio

Hi CanuckCT

Simple and powerful! Very interesting to investigate further!

Did you try CMFcorrect with BBSqueeze? Using this (old) indi could take it out the discretionary element mentioned by NeoRio.

Kindest Regards

Pepe

Hi Neo.

I have just done a bit of backtesting and you REALLY have to be disciplined about NOT looking at the CMF until you have found what you consider to be a decent BB squeeze. Amazing how your eyes are drawn to the CMF though.

Very interesting strategy Canuck, and my thanks to you for sharing.

Cheers CanuckCT,

nice system! So I think your prefered timeframe is 1 H ? Or did you test still other timeframes?

I am looking forward to more posts!

I'm in. thank you

out +75pips

Nice work....I got just shy of 50 pips on that move.
Cheers
CanuckCT

I only use on H1....
Cheers
CanuckCT

I FIND THIS STRATEGY USEFUL ,THANK YOU

The system appears to be good but nevertheless it needs volatility, doesn't it ?

Look what happend in USDCHF on last Thursday when the markets waited for Easter. Price even dropped although the indicator passed to the upside .....

Thursday before a holiday not a good time to look for a breakout

Cheers
CanuckCT

Friend here my small contribution....

I created it when i was learning mt4 .... it working fine ..[feel free to comment it..]

Hope you like it....







Regards

Arun...

A little more explanation about the system will be appreciated!