Breakthrough trend Forex strategy using indicator ToWaveIndicator

18 January 2015, 21:31
Vitaliy Zaporozhskiy
1
984

The principle of this strategy:

1) we build H1 and M15 trends using two last fractals of towave indicator
2) trade is opened when M15 trend is broken (crossed) through resistance point (+/- 3pips) in one case - with breakthrough H1-trend (situations 1,2,4) and in other case - in direction of H1-trend (sit.3,5)
3) stop-loss is set on the last fractal of M15-timeframe (+/-3 pips)
4) trade finished when M15-trend is crossed in reverse direction

 

Strategy uses two indicators: Trend_MA and ToWaveIndicator. The indicator TREND-MA draws support/resistance lines. The indicator ToWave uses Elliot theory base. Look on price changes, ToWave builds extremums('resistance points'), fractals (significant point of trend).


 

Indicator here https://www.mql5.com/en/market/product/5668 

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