M5 BB Breakout Strategy - MT4/MT5 Resources

BB Breakout Strategy

Timetable: M5
index:
Bollinger Bands: Period: 96 , Deviation: 2.0 , Suitable for closure
Relative Strength Index: Period 9 , for Close
roll

Conditions of purchase:
First, we need to wait for the price to break through the upper track, and the price can be greater than or equal to the upper track.
Second, we need to use RSI to check if there is momentum, RSI should be greater than or equal to 70.
Third, we need to check whether the breakthrough has trading volume. The volume should be greater than the average volume.

If these three conditions are met, we go long. R:R should be 1:3 and stop loss should be set below the latest swing low.

Conditions of sale
First, we need to wait for the price to break through the lower trajectory, and the price can be lower than or equal to the lower trajectory.
Second, we need to use RSI to check if there is momentum, RSI should be below or equal to 30.
Third, we need to check whether the breakthrough has trading volume. The volume should be greater than the average volume.

If these three conditions exist, we go short. R:R should be 1:3 and stop loss should be set above the latest swing high.

Side note: BicsOut indicator helps filter out most of the bad trades and comes with alerts and notifications, if you plan to use it on many currency pairs, please limit the bars to minimum as the functionality within the indicator always loops and causes issues or slows down your mt4, or use it only on your favorite currency pairs.

- You can find the latest version of EA here: *click me*
- Installation instructions are in this article: *click me*

Other resources used:



Sample entry:

Limitations during market consolidation