Trendline Break Trading Strategy (FREE EA)
Link to download EA: https://bit.ly/3jSnwhH
*Update: v1.1 - EA has been updated to calculate current bar’s high/low for stoploss placement.
Trendlines and trendline breakout strategies are one of my favorite tools of technical analysis. There are diagonal and horizontal trendlines.
For diagonal trendlines, pay attention to the steepness of a trendline - it shows how prominent the momentum is (the strength of a trend).
For horizontal trendlines, they’re basically support and resistance zones. Prices may not respect the line to the T, keep that in mind as it is rather an area.
Trendline breaks are the best after a subsequent amount of ranging period and is a good confirmation of a successful breakout. We’d want to see price breaking past highs or lows, or a shift in direction.
We use the trendline breakout strategy for 2 things, to trade a breakout and to fade a breakout (fakeout). Depending on the direction bias of the higher timeframes we usually choose to trade only in the same direction.
The video shows how to operate with the EA and implement it or such situations. The EA is able to calculate the SL placement and the optimal lot size to risk a set amount of the capital (1% is the default). It’s also able to calculate the TP level based on risk to reward ratio on the distance between the entry point and the stoploss.
Get the EA (Expert Advisor) on my website for free!
00:00 - Trendline break introduction
04:24 - EA settings
06:28 - Fakeout 1
07:10 - Fakeout 2
07:40 - Sell trade example, uptrend line
08:38 - Example 1
11:05 - Example 2
#trendlinebreakoutstrategy
#trendlinebreakouttradingstrategy
#trendlinebreakoutconfirmation
#trendlinebreakandreteststrategy
#trendlinebreakoutentry
#trendlinebreakoutforextradingstrategy
Subscribe to Our Channel
Youtube: https://www.youtube.com/c/ForexJames
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
Video URL: https://youtu.be/JUsvXfXn-0U
*Update: v1.1 - EA has been updated to calculate current bar’s high/low for stoploss placement.
Trendlines and trendline breakout strategies are one of my favorite tools of technical analysis. There are diagonal and horizontal trendlines.
For diagonal trendlines, pay attention to the steepness of a trendline - it shows how prominent the momentum is (the strength of a trend).
For horizontal trendlines, they’re basically support and resistance zones. Prices may not respect the line to the T, keep that in mind as it is rather an area.
Trendline breaks are the best after a subsequent amount of ranging period and is a good confirmation of a successful breakout. We’d want to see price breaking past highs or lows, or a shift in direction.
We use the trendline breakout strategy for 2 things, to trade a breakout and to fade a breakout (fakeout). Depending on the direction bias of the higher timeframes we usually choose to trade only in the same direction.
The video shows how to operate with the EA and implement it or such situations. The EA is able to calculate the SL placement and the optimal lot size to risk a set amount of the capital (1% is the default). It’s also able to calculate the TP level based on risk to reward ratio on the distance between the entry point and the stoploss.
Get the EA (Expert Advisor) on my website for free!
00:00 - Trendline break introduction
04:24 - EA settings
06:28 - Fakeout 1
07:10 - Fakeout 2
07:40 - Sell trade example, uptrend line
08:38 - Example 1
11:05 - Example 2
#trendlinebreakoutstrategy
#trendlinebreakouttradingstrategy
#trendlinebreakoutconfirmation
#trendlinebreakandreteststrategy
#trendlinebreakoutentry
#trendlinebreakoutforextradingstrategy
Subscribe to Our Channel
Youtube: https://www.youtube.com/c/ForexJames
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
Video URL: https://youtu.be/JUsvXfXn-0U
