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4H Box Breakout

  • #5,421
  • Jan 15, 2017 2:03pm Jan 15, 2017 2:03pm
I have been watching following this thread for a while and strategy looks simple and clean..I havent tested it though but I have a suggestion to make testing this strategy even more fun..We can use an indicator called the SSBODynamic box breakout indicator that can to backtest this strategy and optimize strategy for optimal profit.But the challenge is that indicator does not have GMT start and GMT end for the box.Attached is the indicator and what is does on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 125 KB
Attached File(s)
File Type: mq4 SSBODynamicBreakoutBox.mq4   135 KB | 1,240 downloads
Goal of a successful trader is to make the best trades. Money is secondary
  • #5,422
  • Jan 15, 2017 9:13pm Jan 15, 2017 9:13pm
Quoting Ace284
I've seen breakout strategies for daily and weekly. I've never seen one like the one i'm about to present. DRAW a box connecting the high of the first 4hr candle(00:00) of the week with the low along with a buffer of 20 pips on each side. The week starts at the open of the Australian session. If I had a penny for every time someone has asked which candle it is..i wouldn't need to trade forex to make money. For the next person who is going to ask, follow these instructions. Download an FXDD platform. Press Ctrl+y on a 4hr chart. Lines will magically...
Hi Ace284, Im new here. I have downloaded boxes A and B. How are the settings? There is nothing on the chart. Can you help me?
English is not my native language, I hope the translation is ok
  • #5,423
  • Jan 15, 2017 10:20pm Jan 15, 2017 10:20pm
So I have done a quick back check on GBPJPY for several months.
I have placed orders at the top and bottom of the boxes for each week with stops at the same prices (not convinced 10 or 20 pips either way make any difference)
The prices are the amounts +/- of the initial trades. The bracketed numbers are what you would get if you enter a trade again once SL is hit (these would be the same as the first trades, at the top/bottom of box with same SL's.
Total profit for all shown on chart is +722 pips
FWIW
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrbox.jpg Size: 280 KB
  • #5,424
  • Jan 15, 2017 11:09pm Jan 15, 2017 11:09pm
Quoting cfudge
So I have done a quick back check on GBPJPY for several months. I have placed orders at the top and bottom of the boxes for each week with stops at the same prices (not convinced 10 or 20 pips either way make any difference) The prices are the amounts +/- of the initial trades. The bracketed numbers are what you would get if you enter a trade again once SL is hit (these would be the same as the first trades, at the top/bottom of box with same SL's. Total profit for all shown on chart is +722 pips FWIW 4hrbox.jpg;2141298 {image}
Good job buddy..Backtesting manually can be tiresome.We can use the above mentioned indicator to backtest this strategy but I dont see GMT start and GMT close feature in indicator..I think if we can add the GMT feature we can backtest for optimal settings.I hope you are agree with me.
Goal of a successful trader is to make the best trades. Money is secondary
  • #5,425
  • Jan 26, 2017 10:03pm Jan 26, 2017 10:03pm
Here are my demo results so far for last 2 weeks. Trade still open for this week (from top of blue box).
Position size is 1.00
Please note the results are a grand total including all; closed loss trades
Ignore the trade at the top.
Attached Image (click to enlarge)
Click to Enlarge Name: box.jpg Size: 89 KB
  • #5,426
  • Jan 30, 2017 4:15pm Jan 30, 2017 4:15pm
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr box.jpg Size: 55 KB

Closed Monday...WHY NOT made enough. position size 1.00
  • #5,427
  • Jan 30, 2017 4:53pm Jan 30, 2017 4:53pm
Quoting cfudge
4hr box.jpg;2163706 Closed Monday...WHY NOT made enough. position size 1.00 {image}
Good job man..keep it up.
Goal of a successful trader is to make the best trades. Money is secondary
  • #5,428
  • Jan 31, 2017 6:08am Jan 31, 2017 6:08am
this is probally the only system that works from this website
  • #5,429
  • Jan 31, 2017 12:31pm Jan 31, 2017 12:31pm
Quoting cfudge
4hr box.jpg;2163706 Closed Monday...WHY NOT made enough. position size 1.00 {image}
Pls can you share your indicator. Do you count the first 4 candles on the 4hour chart or just 1 candle on the 4 hour chart . Pls reply. Thank
  • #5,430
  • Jan 31, 2017 5:31pm Jan 31, 2017 5:31pm
You only use the first 4hr candle
Indicator is from this thread post 1
  • #5,431
  • Feb 1, 2017 10:41pm Feb 1, 2017 10:41pm
This can be traded on any pair that is trending on 4H charts. One can easily confirm the profitability by doing visual backtests.
  • #5,432
  • Feb 2, 2017 8:05am Feb 2, 2017 8:05am
the indicator from post first doesn't work in my Mt4 ?
  • #5,433
  • Feb 2, 2017 8:52am Feb 2, 2017 8:52am
Quoting troparzum
the indicator from post first doesn't work in my Mt4 ?
That is the only indicator I downloaded.
  • #5,434
  • Feb 2, 2017 7:47pm Feb 2, 2017 7:47pm
Quoting troparzum
the indicator from post first doesn't work in my Mt4 ?
that indicator work in 4H chart of GBPJPY pair in MT4
try again, bro, good luck
  • #5,435
  • Feb 2, 2017 11:07pm Feb 2, 2017 11:07pm
Quoting thangnd.1211
{quote} that indicator work in 4H chart of GBPJPY pair in MT4 try again, bro, good luck
The indicator isn't working here
  • #5,436
  • Edited 3:27am Feb 3, 2017 3:01am | Edited 3:27am
Just put on different broker...working fine.
Attached Image (click to enlarge)
Click to Enlarge Name: g.jpg Size: 154 KB

I see the problem, it only works on GPBJPY. It works on other JPY pairs but it seems the "BOX LOW" is too low on those. Shouldn't be too hard for someone to code this for all pairs.
  • #5,437
  • Feb 4, 2017 1:20am Feb 4, 2017 1:20am
Following your work. Thanks and
Regards
  • #5,438
  • Feb 6, 2017 4:55pm Feb 6, 2017 4:55pm
I entered pending orders as per Post#1 yesterday. Floating profit now is 160 pips. Two trades have SL on breakeven.

Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 7 KB
  • #5,439
  • Feb 6, 2017 6:57pm Feb 6, 2017 6:57pm
Quoting ccboi1
I entered pending orders as per Post#1 yesterday. Floating profit now is 160 pips. Two trades have SL on breakeven. 4h.png;2175315 {image}
Did you get the BOX LOW and HIGH in the right places on USDJPY and EURJPY
  • #5,440
  • Feb 6, 2017 7:16pm Feb 6, 2017 7:16pm
Quoting cfudge
{quote} Did you get the BOX LOW and HIGH in the right places on USDJPY and EURJPY
I think so. The rules allow for 10-20 pips buffer on the HIGH and LOW of the first 4H candle.
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