76# Levels Breakout
Dynamic support and resistance
Levelsc 8 and 12
Submit Pattrader
Levels Breakout is a breakout strategy based on the dynamic support and resistance lines Levelsc 8 and 12. This strategy is for metatrader 4. The trading system is very simple with clear entries. Levels Breakout is suitable at volatile pairs. The main feature is that generates signals when the pairs is in trend with entries levels. the system behaves well in the lateral phases, avoiding many phases typical of a breakout system.
Time frame 60 min.
Currency pairs majors.
Apply this template to multiple currencies at the same time.
Metatrader Indicators
LevelsSC 8 default setting.
LevelsSC 12 default setting.
Moving average 13 period, close.
Trading Rules Levels Breakout
Buy
When appears an yellow or white buy arrow place an pending order at the level of the red cross, if the price does not reach the level within the yellow circle cancel the order.
Place initial stop loss below the red, after move stop loss.
Profit target is discretionary but an good is option ratio stop loss 1:1.
Sell
When appears an yellow or white sell arrow place an pending order at the level of the red cross, if the price does not reach the level within the yellow circle cancel the order.
Place initial stop loss above the red, after move stop loss.
Profit target is discretionary but an good is option ratio stop loss 1:1.
In the pictures Levels Breakout in action.
Share your opinion, can help everyone to understand the forex strategy.
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