Breakout momentum based expert advisor. Bollinger bands are used to draw the price tunnel. Signal – price breaking (closing) on of the tunnel boundaries. Advanced trailing stop places stop loss above/below breakout candle opposing end. SL can be trailed for higher profits or we can choose to pick more narrow take profit and use this expert as scalping forex strategy.
Used forex indicators
Bollinger bands forex indicator. As standard, used with many breakout trading system, BB are used to determine and visualize price tunnel. Breakout has proven to be profitable entry, although not as good as high/low price entry.
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Parameters of expert for this indicator are fully adjustable, which makes it possible to use this expert across many currency pairs and timeframes.
Notes to input:
Expert advisor is provided freely as it is.
For your own benefit, test is both on historical data and forward demo data.
Live use only on your own risk.
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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.