522# Trend line Breakout with XPV7 XPMA
Trend line Breakout
Submit by JanusTrader 12/12/2013
Trend line Breakout with XPV7 XPMA is an Intrady forex strategy price action based on Trend line indicator filtered by XPV7 XPMA indicator (written by by Xard777).
Markets any, Currency pair: EUR/USD, GBP/USD,AUD/USD, USD/CHF,
NZ/USD,AUD/JPY, GBP/JPY, USD/JPY, GBP/JPY, Gold, Silver, Oil,
Time Frame:30 Minutes
Metatrader Indicators:
I_TDTL_v2 Trend line Indicator-Trend line setting: Bars: 200, LevDP: 2, qSteps: 1, Back step: 0, Start Bar: 0, Trend Line: true);
SpudFibo_v2 is the an option for profit target;
Xpv7 XPMA is a leader trend indicator;
Relative Strngth Index (RSI period 14).
Rules Trend line Breakout with XPV7 XPMA
Trades only in direction of the trend indicator XPV7 XPMA (grren=uptrend red=down trend).
Long Position
Wait for the bar to close above the green trend line.
Price has to be above the green XPV7 XPMA line.
RSI (14) > 50 level optional.
Short Position
Wait for the bar to close below the red trend line.
Price has to be below the red XPV7 XPMA line.
RSI (14) < 50 level optional.
Exit Position
Profit target ratio 1.3 stop loss or make profit on the levels of the spud fib indicator.
Initial stop loss 5 pips above or below the entry bar.
Trend line Breakout trading
