My CCI/Coral Breakout system

[travelkoen]

Prelude

let me start of with saying a few things I want do not want to see in this thread:

- Questions about account statements or live trade signals: I will not have it, the thread is supposed to be about the system. I've been trading for about 3 years, tried every single system, signal service and a huge number of gurus.

In total that has costed me about 20.000 euro, divine intervention gave me this system so I'm spreading the word (for those who wonder, yes it is a joke...).

I'm not gaining anything by sharing this system and will not offer to trade for you or to copy my trades. I've been in the dark quit a few times the last 3 years and am happy that I finally found something that works for me.

- Do not flood the thread with other indicators, templates or EA's, if you have a relevant one then please add the link to the thread about it. If there is no thread yet, then start one.

- I have my own ideas about Risk/Reward, this system will only give you 1:1 (sometimes less), but I found it to work 8/10 and that obviously helps these stats.

- Charts I use are hindsight since I want to have clear examples and while I'm trading I have no time to post or edit charts.

- Be respectfull

Indicators

It consists of two main indicators:

- coral: setting 28

- cci (included in all MT4): setting 21, levels 0,150 and -150

- optional you can add any support/resistance level, i use sr_KG_ Support_and_Resistantce_v101

The pairs

You can use it on just about every pair

I like using it on JPY pairs, they usually offer clean and quick breaks (EJ, AJ,GJ,...)

Time frame

I choose 5M timeframe, simply because that gives me multiple entries per day, I like to trade a lot, not sit back and check my charts every hour. It is a personal choice. It works on higher timeframes but you should adjust SL and TP accordingly.

The system

for buy

wait untill cci has moved below -150

Once it reverses up and touches CCI 0 and the coral line on your chart then buy

SL is at last low, your TP 25 pips (I personally try not to be greedy, but do feel free to leave it open)

Once CCI has moved above 150 then start looking for exit and the next move...

for sell

wait untill cci has moved above 150

Once it reverses down and touches CCI 0 and the coral line on your chart then sell

SL is at last high, your TP 25 pips (I personally try not to be greedy, but do feel free to leave it open)

Once CCI has moved below -150 then start looking for exit and the next move...

third option: the stop loss hunter

Obviously this does not always work (otherwise I would call it the holy grail): sometimes it reverses back before it reaches CCI -150 or 150. The beautifull thing is you can recover your lost pips immediately.

buy signal: SL hit

CCI was under -150, it crossed or touched both CCI and Coral and then it goes down again and hits your SL, then sell immediately and put your SL at the high you just got. TP 25 pips

sell signal: SL hit

CCI was above 150, it crossed or touched both CCI and Coral and then it goes up again and hits your SL, then buy immediately and put your SL at the high you just got. TP 25 pips

I will add some charts later today, my personal goal is to have +25 on all 6 pairs I trade (EURUSD, EURJPY, GBPJPY, AUDJPY, CHFJPY and CADJPY).

[travelkoen]

1. BUY reached target of 25 pips, had a 67 pip potential

2. failed trade, at least if you were looking for the 25 pip goal, 15 pips were possible. When CCI went below -150, put SL at Coral or breakeven.

so 0 pips or maximum 8 pips (if stop was at coral line (99.31)

Good thing is that it is the start of yet another trade:

3. another 25 pips, maximum of 47 pips

4. The move was clean and quick, 25 pip goal reached within 20 minutes

I got out at 25 pips, 36 pips was the maximum but technically the move is still ongoing as CCI didn't go below -150 yet or break the SL level @ 99.77

[MADMKIV]

How's it going? Are you still using this system? Have you made any modifications?