Correlation Forex Breakout Strategy

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1973

Correlation Forex Breakout Strategy

This is a trend breakout trading system based on an indicator of correlation of currency pairs. This shows the correlation between 8 currencies.
This works on a 15 minute, 60 minute and 1 hour timeframe. This is applicable to the following pairs and instument: EUR,GBP, AUD, CHF, USD, NZD, CAD, JPY, XAU.

Forex Indicators:

  • S-B levels,
  • Exponetial moving average 50, low, close,
  • Exponetial moving average 50, high, close,
  • RSI (14, period, close),
  • Correlate (correlation between 8 currencies).

Rules:

Open 4 hour or daily chart and determine the trend direction. It must be trending up if you want to go long and down if you want to go short..

Buy Entry:

  • Trend up time Frame 4H or daily.
  • RSI is greater than 50;
  • Price above the 50 EMA high,
  • Correlate: Green line above royal blue line.

Sell Entry:

  • Trend up time Frame 4H or daily.
  • RSI is less than 50;
  • Price below the 50 EMA low,
  • Correlate: Green line below royal blue line.

Exit position

  • Place initial stop loss c 5-10 pips above/below the entry bar.
  • Exit at the levels of support or resistance.


Forex Trading Strategies Installation Instructions

Correlation Forex Breakout Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.

The essence of this forex strategy is to transform the accumulated history data and trading signals.

Correlation Forex Breakout Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust this strategy accordingly.

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How to install Correlation Forex Breakout Strategy?

  • Download Correlation Forex Breakout Strategy.zip
  • *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
  • Copy tpl file (Template) to your Metatrader Directory / templates /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your forex strategy
  • Right click on your trading chart and hover onTemplate
  • Move right to select Correlation Forex Breakout Strategy
  • You will see Correlation Forex Breakout Strategy is available on your Chart

*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.

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