​Fakeouts are much more common that breakouts. Expert advisor is using one of the best entries coupled with fakeout together with advanced profit protection with trailing stop (behind low/high of last bar). Expert can bring amazing results and has much more settings and variations that can be traded profitably and applied across all timeframes and currency pairs.
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Indicators
Bollinger bands (25). Strategy considers price closing above/below BB boundaries to be a fakeout. Fakeout is validated by the trend.
Moving averages 500 and 250. MA crossover identifies trend and validates entry that can be only done in the direction of trend.
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Trailing stop: Profit protection is trailed behind last candle high for sell positions and behind last low for buy position.
This expert advisor was tested with following settings on 1H EURUSD. Test period: from 01.01.2013 to 01.01.2016.
Get 30 USD no deposit BONUS from XM. Test this expert advisor live. All profits withdrawable.
Notes to inputs:
Take Profit points: Predetermined take profit in points.
LotsPer1000 : Automatic money management, capital used for postion per 1000 USD of account equity.
Lots: False setting for UseMM will only allow stable lot size (Lots).
Stop Loss: Stop loss settings. It will be overwritten by trailing stop if used.
Use MM: True setting will enable automatic money management
Trailing stop points: How far behind last candle high/low will be trailing stop placed.
BB period: Calculation period for Bollinger bands indicator
Fast major period: Calculation period for faster of two moving averages determining the trend.
Slow major period: Calculation period for slower of two moving averages determining the trend.
Fakeout ZONE - Expert advisor
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
