Jul
11
2009

New York Breakout Template

An article by Gus

Just uploaded a New York Breakout template which is a zip file with the New York Box Indicator and the template which adds four moving averages to just give a reassurance that the trend is going in a certain way.

Just go to the Indicator Box on the right side of the blog and click on the NewYork-Template.zip

1)Open the zip file and drag the indicator into the indicators folder.
2)Add the NewYorkBreakout.tpl to the templates folder in, Program Files, Metatrader, Templates Folder.

The moving averages I am using are a Hybrid of 5, 13, 26, 62, Exponential.

Tags: forex, market, News, support and resistance, update

About the Author: Gustavo Feliciano

7 Comments + Add Comment

Mike September 1, 2009 at 7:32 am

Hi Gus,

First let me congratulate you for all the hard work you’ve done . Your site has proved very helpful to me, I really appreciate it, thanks.

I like to trade the new york breakout sessions, overall I’ve not done too badly. The only problem I’ve had is getting the timing right for drawing the boxes for the 1100 to 1300 sessions. So, when I saw the breakout template I thought my problem was solved. I’ve downloaded it and set it up in mt4 but it doesn’t seem to be right. In the “new york” box itself, the tp levels are only about 4 pips away from the entry price. Consequently the lines drawn on the graph for the various tp levels are virtually unreadable because they are so close together. The only thing I can see that is different is that on your screenshots the price has only four decimal places whereas mine all have five. I use Alpari UK on a live account. Do you think that might be the problem and if so do you have any idea of how to fix it? If not, well never mind I will just continue drawing the boxes manually. Keep up the good work.
Mike
p.s. I would have included some screenshots but can’t see how to attach them

Reply
- Gus September 1, 2009 at 7:42 pm
  
  Hey Mike well I have heard that issue before it might be the 5 digits instead of 4, I haven’t tried it on a 5 decimal before. Try to re download it and see if that works.
  
  Also for screen shots you would have to host them on flickr and then add the link here, since I don’t have it set to host images.
  
  Reply
Mike September 2, 2009 at 4:18 am

Hi Gus,

Thanks for getting back to me. I have confirmed it was the five digits that was causing the problem. To solve it I went into metaeditor and added a zero to each of the levels, it seems to have worked, everything is displayed correctly now. Whilst I was at it I increased the stop loss to 50, I’ve been stopped out a few times over 30 before things went back in the right direction. All the best.

Mike

Reply
Peter September 17, 2009 at 2:22 pm

Hi Gus,
I was wondering if you know exactly how Mike managed to solve his problem on the decimal point as I am facing right now?
Perhaps you can help me out with a little more specific of the steps by going to Metaeditor.
I sure hope Mike is around too.

Thanking in advance.

Reply
Peter September 17, 2009 at 2:24 pm

Hi Gus,
I was wondering if you know exactly how Mike managed to solve his problem on the decimal point as I am facing right now?
I sure hope Mike is around too.

Thanking in advance.

Reply
MiG October 7, 2009 at 7:43 am

Hi Gus,

If we do not use MT4.

Do you have an other recommendation for SL and TP?

Thanks in advance for your clarifications.

MiG

Reply
- Gus October 8, 2009 at 5:55 am
  
  I normally recommend at least having a demo account with IBFX or a 0 GMT broker and trade on your real account with whoever else, but if you cannot normally the second level of Fibonacci numbers works out well. I would google a bit to learn how to use them.
  
  Reply