Eur/usd "Kakusei" (Eur/usd "Kakusei") | Forex Indicator Download - MT4/MT5 Resources
Hello! I've always liked breakout systems, simple and low maintenance. This was a perfect system when I started trading because they required very little input from me. I have used several but they don't work in certain market conditions and then people tend to put them aside. I've used various London breakouts that people may know of but it doesn't seem to be working lately. So I went looking for something else.
I call it the EUR/USD "Kakusei". "Kakusei" means awakening in Japanese.
The system trades on the EURUSD currency pair and is very simple with no fancy MM rules or indicators.
Here's the thing:
-Load the 5 minute chart of "phiber"
- Draw a horizontal line at the top of the 00.00 gmt+2 candle and another horizontal line at the bottom of the same candle.
- Adds 7 points of buffer to each.
- Place two pending orders at the top and two at the bottom, the first one has a take profit level of 3 times the box size (including buffer). The take profit of the second order should be only 1 bar. At this point we should close half of the position and raise the stop loss level by 3 pips. Both orders should have a stop loss on the other side of the box. Then, if the price pulls back, we should get a breakeven trade. The reason SL is up 3 points is that I don't like breakeven and I prefer to capture these points. I like it.
-If the first transaction reaches the last goal (3 boxes), we are good. If not, the reverse order still works.
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As for previous results, from January 4th to yesterday I had 52 wins, 62 losses and 41 breakevens.
------------------
An accompanying metric can draw the line for you.
For people with "gmt problems" http://www.timeanddate.com/worldclock/
That's it. I wish you earn more! Happy trading!
I call it the EUR/USD "Kakusei". "Kakusei" means awakening in Japanese.
The system trades on the EURUSD currency pair and is very simple with no fancy MM rules or indicators.
Here's the thing:
-Load the 5 minute chart of "phiber"
- Draw a horizontal line at the top of the 00.00 gmt+2 candle and another horizontal line at the bottom of the same candle.
- Adds 7 points of buffer to each.
- Place two pending orders at the top and two at the bottom, the first one has a take profit level of 3 times the box size (including buffer). The take profit of the second order should be only 1 bar. At this point we should close half of the position and raise the stop loss level by 3 pips. Both orders should have a stop loss on the other side of the box. Then, if the price pulls back, we should get a breakeven trade. The reason SL is up 3 points is that I don't like breakeven and I prefer to capture these points. I like it.
-If the first transaction reaches the last goal (3 boxes), we are good. If not, the reverse order still works.
------------------
As for previous results, from January 4th to yesterday I had 52 wins, 62 losses and 41 breakevens.
------------------
An accompanying metric can draw the line for you.
For people with "gmt problems" http://www.timeanddate.com/worldclock/
That's it. I wish you earn more! Happy trading!
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