How to use breakout for stopLoss
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I use verity of EA on live accounts.
At the learning stage. All my accounts are positive.
The outcome of all EA's are managed manually.
The greatest lost that I have endured is when there is a revers breakout against an existing trade(Buy or Sell).
I would like to apply an indicator that would provide some projection on strength of the breakout.
I know BB(bands) could be used but do not found it sufficient.
I though if there is a indicator that would show the Angle of breakout direction, it might also be used to project the strength.
So if the angle is greater then 75 for 15Minutes and breakout is also confirmed in 5M and 1H, to close the trade rather then wait for the main stoploss to be hit.
I know the angle has direct relationship with time also. The greater change in value in shorter time will create greater angle.
Your advise will be appreciated.