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- 8 Jul 2008
Eagle’s Breakout System
Eagle’s Breakout Strategy is simple but powerful. This strategy calculates highest and lowest price in specific period and then open position following which trend breaks those prices. This system comes with an indicator that automatically calculate the highest and lowest prices and then draw a box based at those prices. This is very easy to follow.
We can use this system for breakout strategy of a specific market, i.e. european market. Just set the start and end time of a period and then set a filter price too for filtering false breakout. The default setting is interesting when this indicator is placed for broker which support GMT+1. You can check it at the picture above.
Instruction For Using Eagle’s Breakout System
Note : Please wait until the end time of the setting time period is ended. Make sure the running tick price is already outside of the white box. (see at the picture above)
Buy Condition
- Open BUY order as soon as price breaks out the upper side of box
Sell Condition
- Open SELL order as soon as price breaks out the lower side of box
Place SL at the other side of box or calculate it depends at Money Management
