Simple breakout system

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Simple breakout system

Postby Avshar » Tue Nov 06, 2012 6:03 am

Hello there,

I ve been reading this boards for quite a while and I decided to contribute with a simple trading system, which i am researching right now.

I found it working on EURJPY cross, cause this tends to trend and has around 1 big figure daily ATR (10 days average). I ve read about so many asia/london breakout systems, but usually they dont work in todays conditions. There are so many false breakouts that its not worth trading. Well maybe.. I wanted to try it anyway.

So I decided to try this system. It takes the first 4h candle of the day, i am using a London Broker, which offers me a GMT timing, so for me its 00.00-04.00 GMT, or 01.00-05.00 CET. We then make a simple count and add a little buffer, 10 points to maximum and 10 points to minimum of this candle. So for example, if we have the first candle in a range H: 103.864 and L: 103.50 we put two orders, one for sell at 103.40 and for buy at 103.964 (plus spreads), then we wait.
I spent so many hours on how to "filter" and not trade the choppy days and i realized that its not possible. You cant use any lagging indicator, or MA, cause it doesnt help at all. So i decided to keep it that way and focus on the RRR of these trades. So far, i ve been manually testing with a 5 pip SL and a 40 pip TP. This allows us to "offset" the bad days, when we can end up with 2x Sls. So far this setup has been very powerful for me, this RRR is just great.

Here I am asking very kindly, can anyone please make an EA for this system? I ve been doing some similar setups with my friend, but unfortunately we are not speaking to each other right now, this system shouldnt take too long to create. I need there to be 3 variables, which can be edited, and that would be the buffer (the 10 pips we use right now, to be changed to 5, 12, 15 etc), the SL and the TP. So its possible to automatically backtest this with changed parameters (In MT4). Manually it takes hours, switching from 4h to 5min chart and counting everything. (I ve tested the whole 2012 year).

Thank you in advance,
Peter
Avshar
 
Posts: 1
Joined: Tue Nov 06, 2012 5:43 am

Re: Simple breakout system

Postby FXmike » Thu Nov 22, 2012 5:30 am

hi peter,

what results did you get for 2012?

mike
FXmike
 
Posts: 5
Joined: Tue Sep 25, 2012 10:55 am


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