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51# 5min Breakout Trading System

Submit by Forexstrategiesresources

 

Time frame 5min.

Pairs: EUR/USD, GBP/USD,AUD/USD

 

Forex Indicators:

10EMA, 50EMA.

Bollinger Bands (30,2)

ParabolicSar(0.03, 0.2)

RSI (14) (Buy level 60, Sell Level 40)

MACD (12,26,9)

 

Long Entry:

When the price of the closed candle breaks upper band Bollinger Bands,10EMA>50EMA, RSI>60 and MACD >0.

 

Short Entry:

When the price of the closed candle breaks Lower band Bollinger Bands, 10EMA<50EMA RSI<40 and MACD <0.

 

Exit:

When the Parabolic Sar change direction: for buy is bottom, for sell is top or Profit targetEUR/USD 7 pips, GBP/USD 9 pips (recommendend Profit Target).


 

see pictures below: 5 min Breakout in action,

 

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