Support and Resistance Breakout trading strategy
Support and Resistance Breakout trading strategy is designed for trading on the breakdown of levels support и resistance. The levels are determined by the technical indicator, and the entry signals are filtered through a channel of moving averages.
Input parameters
- Currency pairs: any, including cryptocurrencies, metals, indices
- Timeframe: M15 and older
- Bidding time: any
- Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
- EMA (13, high)
- EMA (13, low)
- Support and Resistance Breakout (default settings)
Setting up the price chart
- Unpack the archive
- Copy the template into the templates folder
- Copy the indicators to the folder MQL4 -> indicators
- Restarting the terminal
- Open the chart of the desired currency pair
- Set the template with the name SBR
The schedule should look like this:
Signals indicating the opening of a long position
- the candle closed above the moving averages channel;
- an up arrow is displayed under the candle.
Signals indicating the opening of a short position
- the candle closed below the moving average channel;
- a down arrow is displayed above the candle.
Setting Stop Loss and Take Profit Orders
- order size stop loss is equal to the length of the candle on which the arrow appeared, in points;
- Take Profit is set according to the trend, depending on the currency pair and timeframe with a minimum ratio of 1 to 1 stop loss.
The author of the strategy does not recommend opening a trade if the candle on which the arrow appeared is very large.
Support and Resistance Breakout trading strategy will suit not only experienced traders, but also beginners, because its rules are very simple and clear. Before using the strategy on a real deposit, be sure to test it on a demo account.
Download Support and Resistance Breakout trading strategy template and indicators