The High Low Breakout ~ forex market hours mt4 indicator
The High/Low Breakout is a forex strategy intraday based on the break of the previous day high or low.
Time Frame H1
Currency pairs: majors.
Indicator:
ADX 14 period with 35 level.
Trading Rules The High/Low Breakout
Buy
1. Find a currency pair with ADX is less than 35 but above 25.
2. Wait for the price to break below the previous day’s low by at least
15 pips.
3. Place an pending order price to buy 10 pips above the previous day’s high.
4. After that order fill, place your initial stop no more than 25 pips below the entry point.
5. Profi target 30-40 pips or exit postition at end of the day.
Sell
1. Find a currency pair whose 14-period ADX is less than 35 but above 25.
2. Wait for the price to break above the previous day’s low by at least
15 pips.
3. Place an pending order to sell 10 pips below the previous day’s low.
4. After that order fill, place the initial stop no more than 25 pips above
the entry point.
5. Profi target 30-40 pips or exit postition at end of the day.
In the examples we have two trading on GBP/USD hourly charts, all conditions are agree.
ADX 14 is below 35 level at the previous day High/Low.
First Example
Previous day low 1,5835. We look for a break below the previous day low. - Pending order 1,5835 -10 pips= 1,5825. Place stop loss of 25 pips. Profit Target 30 pips.
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Second Example
Previous day high 1,6096. We look for a break below the previous day low. - Pending order 1,6096+10 pips= 1,6106. Place stop loss of 25 pips. Profit Target 30 pips.
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The High/Low Breakout |
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