Secret Revealed Forex Breakout Strategy For MT4
The Secret Revealed Forex Breakout Strategy For MT4 is specially designed for six currency pairs. These are EURUSD, EURJPY, GBPUSD, GBPJPY, EURGBP, and USDJPY.
The strategy uses Support and Resistance, ADX, Trading zone indicator, MACD, Momentum, and Asian Box Breakout indicator. You don’t have to tweak any settings from this indicator as the ex4 files adjust the optimum settings for this strategy.
For the sell order, the price must test the yellow color resistance zone which is usually found in the north portion of the chart. The trend indicator must show bearish mode that means it will be red. The signal line of the RSI will be crimson red. Most importantly the trading zone will be red. Once these conditions are filled, take the sell stop orders 5 pips below the Asian box. Once the pair experience bearish breakout the trade will be triggered. Stops are usually set to 10 pips and the take profit is 30 pips.
For the long trade, the pair will test a support zone that is found in the south portion. The trend indicator will show bullish momentum or it will be green in color. The RSI will turn into blue suggesting the buyers are powerful to push the price higher. Set the buy stop order 5 pips above the box resistance. After the price break the box, the trades will be triggered. Stops are 10 pips and the take profit should be set to 30 pips.
When you use this breakout method, you can increase the take profit by trying to trade the news. Place the pending orders at the platform right before the news data and the take profit should be set to 50 pips. But remember, you should only take the trade when the setup is favoring the trend. Ignore the news trading approach, if the trade is against the existing market momentum. Hassle related to trading can be mitigated to a great extent just by taking the trades with the trend.
Download the complete system description and the files here: