ATR Channel Forex Breakout Strategy

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ATR Channel Forex Breakout Strategy

This system is a breakout method that works on a 4 hour timeframe and works on ane currency pairs.

Forex INDICATORS AND SETTINGS:

  • ATR periods 20
  • MA 50;
  • Multifactor 1: 2
  • Multifactor 2:2
  • Multifactor3:0
  • ADX WMA histo setting:
  • ADX VMA (10.0 period);
  • ADX VMA (4, price);
  • ADX VMA trend true.

For Buy Entry:

  • Take trade at the opening of the next open bar, if on previous bar closed.
  • Price must close above the entry level, that is above the top of the channel.
  • ADX VMA bars are deep sky blue.

For Sell Entry:

  • The opposite entry of LONG but with ADX VMA bars are orange Red.

Exit with stop loss 50-60 pips and profit target with ratio 1:2 but after 70 -80 pips in gain move stop loss at the entry price.

For day time frame exit position setting:

  • stop loss 130-160 pips profit target with ratio 1:2 180-300 pips.

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