51# 5min Breakout Trading System
Submit by Forexstrategiesresources
Time frame 5min.
Pairs: EUR/USD, GBP/USD,AUD/USD
Forex Indicators:
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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Otobong Udoh (Wednesday, 03 February 2021 00:04)
Is it only that that 3 pairs it works for or all the currency