4H Breakout – Back to Basics

An article by Gus    No Comments

So it has been a while since I have talked about the 4H Breakout strategy which was one of the first strategies and trading methods I followed when I first got into Forex. While I have been testing and trying out new methods of trading the 4H method still is a very successful strategy.

I do not solely use the 4H Breakout and do use a lot of support and resistance lines to enter and exit trades, which I will talk about on a later date. I have been back testing the breakout strategy and it keeps getting pips month after month.

If you look at the picture below you will notice how while there are some times you lose the winners are just massive winners. As I states before I enter a trade when it breaks the short or long line and then break even at the first level and let it run then rest to see how it goes.

It is a very basic method that most people can understand and succeed with. I am trying to see if someone can code this for me later to automate most of the trades since it follows very basic guidelines. I am also looking at adding support and resistance lines into the system to get rid of the false breaks which retrace fast, this should increase the profits two fold.

I will keep everyone updated on this as it progresses; I am still learning MQL4 coding so I will probably not be able to do this by myself. As always good luck and go get some pips.

Thanks,
Gus