SDX Forex Breakout Strategy For MT4
The SDX Forex Breakout Strategy For MT4 can be traded on multiple time frames such as the hourly, 30-minute, and 15-minute time frame. You should only use this system or strategy when trading on currency pairs. Just bear in mind that the best pairs for this strategy are the major currency pairs.
In this system, there is an RSI HistoAlert indicator which has a histogram which plots below and above its horizontal zero axis line. Level -40 and 40 are considered to be respective levels or zones of oversold and overbought. Then, there is also an FX5 Divergence indicator - it has a period of 12. It plots in a similar fashion to the RSI HistoAlert indicator.
It is sophisticated because it is able to detect divergence structures relative to the price action movement. The divergence signals will appear in the indicator window and also in the actual trading screen. This is great because it takes away the manual labor of having to identify these divergence trade setups independently. This divergence pattern will be of great benefit to you with regards to the actual implementation of this trading strategy.
There is a systemic approach you need to apply in order for you to realize the benefits of this effective trading system. You need to analyze and see what is going on in the market. So the first thing you will do is to identify the trend and then place a special focus on the upper and lower limits of the purple trading channel. Buy signals will be generated with blue and red arrows.
The blue represents a buy signal and the red arrow represents a sell signal. The FX5 indicator is a great tool to have because it will show you points of divergence. A divergence price structure will serve as a supplement to your signal because this tends to increase your win-rate considerably.
Your take profit target for each trade you open will be ten to 30 pips. That is a sizeable amount that you could collect on a consistent basis if you deploy the system to the best of your abilities and discipline.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
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