Support and Resistance Breakout


Arinad

Постоялец
Support and Resistance Breakout is a strategy based on the famous indicator developped by Barry Stander in the 2004 for Metatrader 4. The version that i shows here is developped by Lennoi Anderson, 2015. This is an free but great indicator for analisys of the market anf for support at the trading with very good results.

I think that this type of breakout is better for trading with Indices, Stocks Commodities and Cryptocurrency.

This styrategy is simple and easy and do not repaint.

Options:
  • Time frame 5 min or higher, for Major forex 15 min or higher.
  • Financial Markets: ndices, Stocks Commodities, Cryptocurrency and Forex.
Metatrader 4 Indicators:
  • MA Channel 13 periods, EMA high, Ema low.
  • Support and Resistance Breakout defaul setting.
Support and Resistance Breakout trading rules

Buy
  • The price candle is above the channel of moving averages Support and Resistance Breakout buy arrow below the candle.
  • The stop loss is nuber of the pips of the signal candle.
  • Profit target ratio 1:1 stop loss or above.
Sell
  • The price candle is below the channel of moving averages Support and Resistance Breakout sell arrow above the candle.
  • The stop loss is nuber of the pips of the signal candle.
  • Profit target ratio 1:1 stop loss or above.
Do not trade if the signal is on a long candle.

This is a winning strategy.

In the pictures Support and Resistance Breakout in action









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