Breakout strategy EURUSD Break for the EUR/USD currency pair with Expert Advisor
Breakout trading strategy EURUSD Break is designed to trade the currency pair EUR/USD with additional filtering of the signal by the moving average.
Input parameters
- Currency pairs: EUR/USD.
- Timeframe: H1.
- Bidding time: London, New York.
- Risk Management: After calculating the stop loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.
Setting up the price chart
- Unpack the archive.
- Copy the template into the templates folder.
- Copy the indicators to the folder MQL4 -> indicators.
- Open the chart of the desired currency pair.
- Set the template with the name EURUSD_Break.
The schedule should look like this:
Signals indicating the opening of a long position (buying)
Prerequisite: The sixth hour candle of the current day is above moving average.
Option #1. If this signal candlestick is completely above the moving average, we look for the maximum of the current day and place a pending Buy Stop order one pip above that maximum.
- Take Profit is equal to the value of the ADX indicator *1.5.
- Stop Loss is equal to the value of the indicator ADX * 1.0.
Option #2. If this candle touches a moving average (lower shadow or lower half of the body), then put pending Buy Stop order at the nearest zero level, which is higher than the maximum of the signal candle.
- Take Profit is equal to 10 points.
- Stop Loss is equal to the value of the indicator ADX * 1.0.
Signals indicating the opening of a short position (sale)
Prerequisite: The sixth hour candle of the current day is below the moving average.
Option #1. If this signal candlestick is completely below the moving average, look for the minimum of the current day and put pending Sell Stop order one point below that minimum.
- Take Profit is equal to the value of the ADX indicator *1.5.
- Stop Loss is equal to the value of the indicator ADX * 1.0.
Option #2. If this candle touches the moving average (the upper shadow or the upper half of the body), then we put a pending Sell Stop order at the nearest zero level, which is below the minimum of the signal candle.
- Take Profit is equal to 10 points.
- Stop Loss is equal to the value of the indicator ADX * 1.0.
According to our experts, the breakout strategy EURUSD Break for the currency pair EUR / USD can be used to trade other currency pairs. This requires the selection of indicator settings, which will cause difficulties for novice traders. In addition, the EURUSD Break strategy is the basis of the trading robot, which can be found in the archive.
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