Volatility breakout system

i'm trying for quite some time to exploit the volatility after london and us open

i know this just another thread about the argoment but i think this is different from the others and deserve his own topic

before talkin' about my system i wish to spend a couple of words about others system that work similarly

the most famous system uses a determined range of time to draw a box and then trades the breakout of it

doesn't work well sometimes cause the box its to big and you may miss good opportunity to trade

mer071898 and squalou modifyed to system to adapt the max range to a pretermined max size of the box and allow us to trade everyday

but sometimes the last candle that form the box closes too close the upper/lower side of the box and lead to fakeout for this reason

i guess that we can avoid this situation drawing the box around the close of the last candle of the box using the hour ATR to determine box size and TP and sl

what do you think about this guys? can someone code the indicator?

parameters needed are start and end of the candle to draw lines, box size in pips and sl/tp

happy trading!

Sounds interesting, subscribed!

this is a better explanation of what i meant yesterday

first image its the original system with the box with the buy order much more closer than the sell order

second image its the adjusted system with the buy and sell order equidistant from the close of the candle

also attach the indicator that i'm sing for this with my tpl

please notice that enter/stop/profit levels are drawed with the fibonacci tools so all you need to do its to double click on the diagonal line and move it to the close of the right candle before london session

also draw a box using the rectangle tools so if you switch TF you know were to move again the levels

Kunay9 please correct me if i'm wrong.
At the close of the 1 hour candle just before London open You place Buy Stop and Sell Stop by x pips. Where x pips is 250 ATR?
How do You place Your SL and TP?

Can You share Your ATR indi?

Thanx

yes you are right Laksior

let me know if i was messy with the draw

Thanx, everything's clear

Hey Kunay9
I love your system for its simplicity.i need help on how to filter out false breakouts?

well it isn't possible to filter all the fakeouts and i don't like a lot to try to trend filter entries cause on a daily basis we all know that even in the strong uptrend or downtrend we have counter trend bars but as far i can tell only solution its to just filter with some MA's or trendlines

that is what I was thinking as well. maybe this might prove useful

the video is useful
thanks

morning trades +4% on balance investing 1% each

Nice work. out of curiosity are you trading the same method you posted above or did you add something new?

Do you only go for the first target?

at london open i place 2 pending order using M30 ATR

for example eurusd M30 ATR it is 16 pips

buy order its placed 8pips above london open candle and sell order its placed 8pips below london open candle

both orders use 1% of balance and have a 1% trailing stop ( buy order got SL where there is stop order and viceversa )

i trade both of them if they get open before 3hour after london open ( london open at 9am, i delete pending that didn't open at 12:00 am )

gonna trade us open too with same rules and gonna update later with today results

if i wasn't clear ask again

happy trading

yesterday was a day full of news, both in the morning, in the early afternoon (before and after us open) and with the fomc at evening with usually are bad day trades for most of the volatility/trending strategy

anyway, almost every couple of pendings got triggered ( which is weird ) for a loss of 14%

see you later with today results

go it now, thank you

today results: break even

Hey hows the system going so far..

I also believe volatility breakouts the way to go though i have no track record to show for at the moment