- September 1, 2021
- Posted by: Forex Wiki Team
- Categories: Free Forex EA, Free Forex Indicators
Hi forex Wiki Friends,
SRB PRO Description :
The Support and Resistance Breakout trading strategy is designed to trade the breakout of support and resistance levels . Levels are determined by a technical indicator, and entry signals are filtered through a moving average channel.
- Currency pairs: any, including cryptocurrencies, metals, indices
- Timeframe: M15 and older
- Trading time: any
- Risk management: after calculating the stop loss, choose such a lot size that the risk is no more than 2-5% of the deposit per trade
- EMA (13, high)
- EMA (13, low)
- Support and Resistance Breakout (default settings)
Setting up a price chart
- Unpack the archive
- Copy the template to the templates folder
- Copy the indicators to the MQL4 folder -> indicators
- Restart the terminal
- Opening the chart of the required currency pair
- Installing a template named SBR
The graph should look like this:
Signals indicating the opening of a long position
- the candlestick closed above the moving average channel;
- an up arrow is displayed under the candle.
Signals indicating a short position
- the candlestick closed below the moving average channel;
- A down arrow appears above the candle.
Placing a stop loss and take profit order
- the size of the stop loss order is equal to the length of the candlestick on which the arrow appears, in points;
- take profit is set according to the trend depending on the currency pair and timeframe with a minimum ratio of 1 to 1 to stop loss.
The author of the strategy does not recommend opening a trade if the candlestick on which the arrow appears is very large.
Breakout trading strategy Support and Resistance Breakout is suitable not only for experienced traders, but also for beginners, since its rules are very simple and straightforward. Before using the strategy on a real deposit, be sure to test it on a demo account.
Broker Requirement :
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|Register||2008||Cyprus||1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|Register||2006||Dublin, Ireland||1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|
|Register||2008||Port Vila||1: 1000||$10||VFSC|