A Volatilty Breakout Idea - MT4/MT5 Resources
I have been studying the concept of volatility breakouts since reading about the success of Larry Williams and a very interesting article written by Linda Bradford Ratchke a few years ago.
I have always been a discretionary trader and avoided using EAs, but I thought it might be time to try something new.
These are my thoughts on simple volatility breakouts and I'd love to get other people's productive, constructive input. If someone can code the EA, that would be great!
General idea: Learn from intraday trends.
Timeframe: 15 minute chart,
Currency: EUR/USD
Go long at the opening of the next bar if the following conditions are met:
- The closing price of the current bar is at least 5 points higher than the high of the previous bar, and
- The closing price of the current bar is higher than the high of the previous 5 bars, and
- The closing price of the current bar is higher than the previous high of 12 bars.
Take Profit = 15 pips, Stop Loss = 15 pips. Only 1 transaction is open at a time.
Contrary to the admission criteria for shorts mentioned above.
Money management is discretionary. It would be great if the EA could enter the account type (standard, mini) and lot size, or even the account balance percentage for each trade.
Possible adjustments could include limiting the sessions or times during which trades are found.
If this approach does show some potential, I'd like to try to align the general idea with the metrics.
I have always been a discretionary trader and avoided using EAs, but I thought it might be time to try something new.
These are my thoughts on simple volatility breakouts and I'd love to get other people's productive, constructive input. If someone can code the EA, that would be great!
General idea: Learn from intraday trends.
Timeframe: 15 minute chart,
Currency: EUR/USD
Go long at the opening of the next bar if the following conditions are met:
- The closing price of the current bar is at least 5 points higher than the high of the previous bar, and
- The closing price of the current bar is higher than the high of the previous 5 bars, and
- The closing price of the current bar is higher than the previous high of 12 bars.
Take Profit = 15 pips, Stop Loss = 15 pips. Only 1 transaction is open at a time.
Contrary to the admission criteria for shorts mentioned above.
Money management is discretionary. It would be great if the EA could enter the account type (standard, mini) and lot size, or even the account balance percentage for each trade.
Possible adjustments could include limiting the sessions or times during which trades are found.
If this approach does show some potential, I'd like to try to align the general idea with the metrics.
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