Autotrendline Breakout trading strategy for breakout and rebound trading
Autotrendline Breakout trading strategy - is a simple way to apply the method of trading on breakdown and the bounce of the price from the trend line with the filtering of trading signals by MACD indicator.
The feature of the strategy Autotrendline Breakout is that the trend line is applied by the indicator in automatic mode, which greatly facilitates the trade, especially for beginner traders.
Input parameters
- Currency pairs: any
- 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
- Trendlines indicator (defaul setting)
- MACD 2 Lines (12, 36, 9)
- Symblol Changer
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
- Install the template named Autotrendline Breakout
The schedule should look like this:
Signals indicating the opening of a long position
- the price rebounded from trend line up or broke the line from the bottom to the top;
- on the MACD indicator the blue line crossed the red line from the bottom up;
- MACD histogram bar is green.
Signals indicating the opening of a short position
- the price bounced from the trend line down or broke the line from the top down;
- On the MACD indicator, the blue line has crossed the red line from top to bottom;
- MACD histogram bar is red.
Setting Stop Loss and Take Profit Orders
- stop loss is set above/below the previous local maximum/minimum;
- Take Profit is set depending on the used timeframe and currency pair. In addition, it is possible to use the function trailing stop.
Before using Autotrendline Breakout trading strategy If you have a real deposit, be sure to test it on a demo account.
Download Autotrendline Breakout Strategy Template and Indicators