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ATR Channel Forex Breakout Strategy
This system is a breakout method that works on a 4 hour timeframe and works on ane currency pairs.
Forex INDICATORS AND SETTINGS:
- ATR periods 20
- MA 50;
- Multifactor 1: 2
- Multifactor 2:2
- Multifactor3:0
- ADX WMA histo setting:
- ADX VMA (10.0 period);
- ADX VMA (4, price);
- ADX VMA trend true.
For Buy Entry:
- Take trade at the opening of the next open bar, if on previous bar closed.
- Price must close above the entry level, that is above the top of the channel.
- ADX VMA bars are deep sky blue.
For Sell Entry:
- The opposite entry of LONG but with ADX VMA bars are orange Red.
Exit with stop loss 50-60 pips and profit target with ratio 1:2 but after 70 -80 pips in gain move stop loss at the entry price.
For day time frame exit position setting:
- stop loss 130-160 pips profit target with ratio 1:2 180-300 pips.
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