Breakout Strategy

[mfoste1]

Greetings ,

I have a request that could make this strategy better. It should be pretty easy to fix. Instead of having "allow multiple positions" as yes or no, have it "allow X number of positions", X being what ever number the user specifies. This would make a good strategy for traders that like to play larger swings in the market on higher TFs and they could essentially build a large position over the course of a couple days in the direction of the trend. Thanks

[Apprentice]

Your request is added to the development queue

[Xander Moss]

Hello traders!
I think breakout strategies are the only way to profitability.
I have a problem with it.It works fine with Currencies but it doesnt open positions with indices.
I want to use it in DAX and UK100 because they are less volatile.
If its easy, please tell me what to change in the .lua editor or something else.

Thanks for your time

[ignacio_mella]

I have the same problem as Xander Moss. I want to trade XAU/USD, but for some reason the BO strategy doesn't work here.

I've tried it on the EUR/USD with no problems.

I would greately appreaciate your help.

Thanks

[lucky777]

Hi Nikolay,
> Could you please be able to add or adjustment on the breakout
> indicator the price on the screen. For example I want to trade
> 17.00 EST to 18.00 EST time. Price 17.00EST is eur/usd 134.20 and
> finish 18.00 EST price is 134.45 That mean price is gone up by .25
> It shall indicate that .25 price is gone up. if the price is gone
> down to 134.05 that means it will show .15 down.
>
> -------134.45-----------
> --up .25----------------
>
>
> ____134.20_____
>
>
>
> Down.15
>
>
> ---134.05-----
>
> Your help will be very much appreciated.
> Thanks in advance
> Lucky 777

[Apprentice]

Thank you for reporting the problem.
Someone will test indicator, this should fix the problem.

Your request is added to the developmental queue.

[arindam89]

STRATEGY UPDATE REQUEST

This strategy is really quite good but could be improved further with minimal work.

FIRST IMPROVEMENT

The trailing stop limit is useful. What is needed now is the addition of a trailing profit limit. This would work in exactly the same way as the trailing stop limit but simply in reverse. It would be useful where a market doesn't breakout cleanly but instead oscilates around the breakout level. In essence, where a market is undecided about direction it is far better to have a mechanism that tightens both the stop and profit limits in order to improve chances of success.

The trailing profit will have no impact on the clean breakouts which will still max out.

This will improve the win ratio enormously.

Would you kindly add this to the strategy?

SECOND IMPROVEMENT

This strategy works very well for hard trending markets but very badly for rangebound markets that don't "breakout" very well. In fact, for such markets, this strategy consistently loses money, which presents a fantastic opportunity.

If you are able to introduce a user preference in the strategy that allows the strategy to be "reversed" then the strategy could be applied to range bound markets profitably.

So if the "reverse" preference is elected by the user, the strategy would enter a buy trade on the break of the lower channel (instead of a sell trade) and it would enter a sell trade on the break of the upper channel (instead of a buy trade). The profit and loss limits would also need to be reversed accordingly.

The trailing profit described above would then function exactly as the trailing stop now functions....but creating lots of small winners every time there is a failed breakout in a rangebound market.

Thank you for your help with this.

hi
does anything like trailing profit limit exits

[automan]

and if possible an option to optimize time

the time when the box should start and when it should end

[Apprentice]

Your request is added to the developmental queue.

[waelsaleem]

Hello,

I have a request to make this strategy even better: Breakout-GMMACD Strategy:
This would be identical to the breakout strategy. The only difference is that the trade is triggered only if it is confirmed by the GMMACD indicator histogram. if the histogram (GMMACD value) is in the same direction of the trade, then the trade is triggered. Exit strategies are identical to the original strategy. This will likely prevent many losing trades triggered against the overal trend. Let me know what you think.

Great job as always.