Sunrise Breakout Box Forex Trading Strategy

Traders are aware that price usually moves within ranges and spotting these zones is crucial for just about anyone who is willing to make profit.

A lot of market participants are constantly worried on how to lock on such moves without getting burnt.

The Sunrise Breakout Box forex trading strategy is designed to help traders spot profitable market moves (breakouts) from tight market ranges.

Chart Setup

MetaTrader4 Indicators: forex-breakout-box.ex4 (default setting), forex_sunrise_indicator.ex4 (default setting), Fisher_yur4ik.ex4 (Input Variable modified; period=33)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair

Download

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern gets displayed:

  1. If price closes above the box the forex-breakout-box custom indicator as shown on Fig. 1.0, it is an indication of upward price pressures, as such a buy signal is said to be in place.
  2. If the blue dotted line of the forex_sunrise.ex4_indicator aligns somewhat below the candlesticks as depicted on Fig. 1.0, it is an indication of bullish market sentiment, hence a trigger buy the designated currency pair.
  3. If the lime histograms of the Fisher_yur4ik.ex4 custom indicator aligns above the 0.00 signal level, it is an indication of upward price pressures, hence an indication to buy the asset of focus.

Stop Loss for Buy Entry: Place stop loss 1 pip below the breakout box (support).

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If price breaks below the box of the forex-breakout-box custom indicator during a buy signal, it is an indication of weaning bulls strength, hence a trigger to exit or take profit.
  2. If the dotted line of the forex_sunrise_indicator.ex4 turns deep pink during a buy signal, an exit or take profit is recommended.
  3. If the histograms of the Fisher_yur4ik custom indicator turns red, bullish pressures is said to be weaning, as such an exit or take profit will suffice.

Sell Entry Rules

Initiate a sell entry if the following holds true:

  1. If price closes below the box the forex-breakout-box custom indicator as shown on Fig. 1.1, it is an indication of downward price pressures, as such a sell signal is said to be in place.
  2. If the deep pink dotted line of the forex_sunrise.ex4_indicator aligns somewhat above the candlesticks as shown on Fig. 1.1, it is an indication of bearish market sentiment, hence a trigger sell the specified forex pair.
  3. If the red histograms of the Fisher_yur4ik custom indicator aligns below the 0.00 signal level, it is an indication of downward price pressures, hence an indication to sell the asset of interest.

Stop Loss for Sell Entry: Place stop loss 1 pip above the breakout box (resistance).

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following holds sway:

  1. If price breaks above the box of the forex-breakout-box custom indicator during a sell signal, it is an indication of weaning bears strength, hence a trigger to exit or take profit.
  2. If the dotted line of the forex_sunrise.ex4_indicator turns blue during a sell signal, an exit or take profit is advised.
  3. If the histograms of the Fisher_yur4ik custom indicator turns lime, it points to halting bears pressures, hence an exit or take profit will do.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The Forex-breakout-box.ex4 indicator acts like a zone that defines price direction, as such if price breaks out of the box downward or upward, then trend is said to be bearish or bullish respectively.

The forex_sunrise.ex4_indicator is an adaptable technical study that is based on the moving average and triggers buy/sell alerts in line calculations that are based on support and resistance.

The Fisher_Yur4ik.ex4 custom indicator is an oscillator that signals bullish or bearish price pressures when its colored histograms are aligned above or below the 0.00 signal level respectively.

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