4# Breakout intraday Trading System

Trading Range Breakout Strategy

Submit by Janustrader

 

Setup

Based on the number of minutes specified in the Inputs, the initial trading range is established for that particular trading period. This range consists of the highest and lowest prices during the initial period.Once the initial period is over, the setup is considered complete.

 

 

Long Entry

After the initial setup period, a long entry will be generated on the Close if the Close crosses above the high of the initial trading range.

Short Entries

After the initial setup period, a short entry will be generated on the Close if the Close crosses below the low of the initial trading range.

Long Exit

Once a long position has been taken, the long setup is closed for the rest of the session. In addition, a protective stop is implemented at the low of the initial trading range.

 

 


Short Exit

Once a short position has been taken, the short portion of the setup is closed for the rest of the session. In addition, a protective stop is implemented at the high of the initial trading range.

Additional Stops

You should consider the addition of a trailing stop from the built-in stops in order to protect the position’s profits.

Profit Target: on Pivot daily or 60 pips for GBP/USD, 50 pips for Eur/USD

 


In example London Session the period for the trading Range is 120 min, 60 before open and 60 after open session

 

Forex Indicator
breakout.rar
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