Direction Forex Breakout Strategy
This is based on an advanced box breakout indicator. This works on a 30 minute timeframe and applicable to any market.
There are 2 ways to use this system:
- First filtered by Support and resistance,
- Second with the best setting for I-regression channel.
For filtered by Support and Resistance:
Forex Indicators:
- Trade plus Zone (Box 00:06 -00:09, End session 00:00 with target zone area)
- Support and resistance indicator.
Buy Entry:
- The price must be above support.
- Place a pending order 3 pips above buy level.
Sell Entry:
- The price must be below resistance.
- Place a pending order 3 pips below sell level.
Target Area: aqua color.
Place initial stop loss of 25 pips after 18 pips in gain move stop loss at the entry price.
For I- Regression:
Forex Indicators:
- Trendline channel I-regression (period 300, degree 3- dev 1,618, 2,618, 3,618)
- Box Breakout with target zone,
- Daily Range optional,
- Trader dynamic index with cloud (default setting).
If I-regression Channel pointing up look for buy
If I-regression Channel pointing down look for sell
Target Area gray color
additionals target area upper and lower bands
Buy Entry:
- Channel pointing up
- price into lower bands (blue and red color),
- Traders dynamic index cloud green color.
Sell Entry:
- Channel pointing down
- price into lower bands (blue and red color),
- Traders dynamic index cloud red color.
Target Area: gray color
Additionals target area upper and lower bands
Place Stop loss Below the upper/lower bands or 25 pips.
Recommended MT4 Broker
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
- Exclusive 50% Cash Rebates for all Trades!
Already an XM client but missing out on cashback? Open New Real Account and Enter this Partner Code: 𝟕𝐖𝟑𝐉𝐐
Click here below to download: