Easy Fractal Breakout Strategy - MT4/MT5 Resources
Over the past month I have been demoing and live trading fractal channel breakouts. The results were pretty good, so I thought I'd start a thread about the method and see if anyone was interested.
The method is very simple, all you have to do is buy when the price breaks through the upper channel line and sell when the price breaks through the lower channel line. I have attached a chart of what I mean along with the fractal channel indicator I used and another indicator that only shows the last fractal.
Currently I only trade EUR/USD within 5 minutes. chart but I hope if anyone follows this we can work on trading different currency pairs and different time frames. As well as tweaking some things to make it a little more casual than mechanical.
The next article will show the entry and stop loss rules I use now. Again any suggestions or questions are encouraged and let's see if we can build a good system here.
Thanks,
Trubulu
The method is very simple, all you have to do is buy when the price breaks through the upper channel line and sell when the price breaks through the lower channel line. I have attached a chart of what I mean along with the fractal channel indicator I used and another indicator that only shows the last fractal.
Currently I only trade EUR/USD within 5 minutes. chart but I hope if anyone follows this we can work on trading different currency pairs and different time frames. As well as tweaking some things to make it a little more casual than mechanical.
The next article will show the entry and stop loss rules I use now. Again any suggestions or questions are encouraged and let's see if we can build a good system here.
Thanks,
Trubulu
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