A simple breakout system - MT4/MT5 resources

I love breaking out of the system. It doesn't require much thinking and is the simplest indicator one can find for Forex trading.

The system has 3 trading sessions: Asia, Europe and America.

The system involves trading breakouts on the middle 3 one hour bars (not exactly the middle).

The idea behind this trading system is that traders (usually large fund managers) want to close trades before the end of their respective trading sessions, so large moves can occur.

Here's a summary of another simple system.

1. Open the 1 hour chart of EURUSD (I've only tried this on this currency pair, but I'm sure this may work on other currencies as well).

2. Download an indicator called i-sessions (found on the Internet. The original text is in Russian, so thanks and credit go entirely to the person who created the indicator)

3. Then click Edit to open the metric and change the start and end time of each session as shown below

Asian session: 4:00-6:00
European time: 11:00-13:00
American time: 18:00-20:00

Add 5 pips to the high/low of the box and place the trade.

Aim for whatever you like. I've been able to get an average of 20-30 points.

The stop loss will be at the other end of the box.

This is what the indicator and chart look like.