Breakout Strategy

1789 January 4, 2024

Breakout Block

Overview

List of Indicators

  • Candle
  • Zik Zak
  • Factal
  • Pivot
  • Time Zone Breakout

List of Strategies

  1. Daily Candle Breakout
  2. Zik Zak Breakout
  3. Factal Breakout
  4. Insider Bar Candle Breakout
  5. Candle Breakout
  6. Pivot Breakout
  7. London Breakout

 

– 1. Daily Candle Breakout –

BUY SIGNAL = When the price breakout from the previous daily candle’s high price.

SELL SIGNAL = When the price breakout from the previous daily candle’s low price.

 

– 2. Zik Zak Breakout –

BUY SIGNAL = When the price touches the Upper ZikZak line’s price.

SELL SIGNAL = When the price touches the Lower ZikZak line’s price.

– 3. Factal Breakout –

BUY SIGNAL = When the price touches the Upper Factal line’s price.

SELL SIGNAL = When the price touches the Lower Factal line’s price.

Note – If the current price is already above or below the current factal price then EA will look for the nearest upper or lower factal price for the breakout signal.

 

– 4. Insider Bar Candle Breakout –

BUY SIGNAL = When an open price breakout signals a candle’s high price.

SELL SIGNAL = When an open price breakout signals a candle’s low price.

– 5. Candle Breakout –

BUY SIGNAL = When the highest high price breakout from the number of candles you select from EA’s input.

SELL SIGNAL = When the lowest low price breakout from the number of candles you select from EA’s input.

 

– 6. Pivot Breakout –

BUY SIGNAL = When the price break on your selected above Pivot level.

SELL SIGNAL = When the price break on your selected lowest Pivot level.

Note – Adjust input value when your Breakout Strategy = Pivot Breakout.

– 7. London Breakout –

BUY SIGNAL = When the price cross above the height high from Start Time and End Time.

SELL SIGNAL = When the price cross above the lowest low from Start Time and End Time.

Note – Adjust input this value when your Breakout Strategy = London Breakout.

Indicator Inputs

  • Breakout Indicator – Select Breakout Indicator. 7 Indicators are available in this section. You can choose any of them for your Breakout Indicator.
  • Minimum Distance To Open Trade – You can set a minimum distance in points to a valid breakout for a new signal.
  • Extra Padding – You can set padding with your original breakout level.  Example – You set Extra Padding = 10 points and your buy pivot level is 1.2000, EA will open buy trade at this level because your set Padddint 10 points so your buy level will be 1.2010 (Your original breakout level + padding value). You can set the negative value as padding like set Extra Paddind = -10 then your buy level will be 1.1990. 0-mean EA will open trade on the original breakout level.
  • InDepth (ZigZag BK) – Set in depth ZigZag Breakout Value.
  • InDeviation (ZigZag BK) – Set in deviation ZigZag Breakout Value.
  • InBackstep (ZigZag BK) – Set in backstep ZigZag Breakout Value.
    Note – If the current price is already above or below the current ZikZak price then EA will look for the nearest upper or lower ZikZak line for a breakout signal ZigZag indicator value. Adjust this value when your  Breakout Strategy = Zik Zak Breakout.
  • Number of Candle (Candle BK) – You have to set how many candles EA looking for the highest and lowest price to open trade.
  • Mini. GAP for Valid BK (Candle BK) – You have to set a minimum range (in points) of High – Low of the signal candle for a valid breakout signal. Zero value means disabling this filter, EA will open trade any GAP.
  • Min. Bar In (Inside Bars) – You have to set how many candles you need inside one candle so Ea will consider that candle as a valid signal candle.
  • Min. Candle Range for (Inside Bars) – You have to set a minimum range of High – Low of the signal candle for a valid signal candle. 0 mean disable.
    Note – When some candle is fully inside a candle then it calls an inside bar candle. That is our signal candle. So when a price breakout signals candle high or low price EA will open trade.
  • Pivot Level – Select which pivot level EA will consider as breakout level.
  • Start Time {HH:MM} (London BK) – Breakout zone start time.
  • End Time {HH:MM} (London BK) – Breakout zone end time.
  • Valid Time {HH:MM} (London BK) – Breakout end time. Between end time price not breakout high price or low price then EA will ignore that day to open trade.
  • Min. GAP High/Low (London BK) – This value is points. If you set 100 then minimum gap between High price and Low price must be 100 points. Zero value mean disable.

 

How to Active

#Step 1 –

First, you have to active BREAKOUT SECTION to Set from EA’s Input.
Active Breakout = On

#Step 2 –

Select your Breakout Trading Indicator from EA’s Input. It should be any one you like from the list. You have 7 indicators to choose from.

#Step 3 –

After your indicator selection is done then configure your indicator. Like Deviation, Range, and Validation.

NOTE: Not all indicators require that you configure all the inputs.