Inside Day Breakout Strategy Forex Expert Advisor ~ forex trading sms tips
Here is a Expert Advisor (EA) based on the Inside Day Breakout Play Strategy adopted from Kathy Liens book, "Day Trading the Currency Market."
Again, due to copyright issues, I will not explicitly list out the rules for this strategy. You can purchase your own copy of her book to read in depth more about this strategy. And yes, this strategy works
The strategy is based on volatility. Essentially, after two quiet days of little price movement, we expect a huge breakout. The EA will ride on this break out trend. We check for two days consecutively where each day is an inside day. This means that the days low and high are inside the previous days low and high.
Heres an example. Click to expand.
Here are the results.
Pair: EUR/GBP
Lot size: 1
Chart: Daily
Initial Balance: 10,000 USD
2010, 77.3% yield
2009, 44.8% yield
2008, 51.9% yield
2007, -4.65% yield
Additional currency pairs which would work well for this strategy would be USD/CAD, EUR/CHF, EUR/CAD and AUD/CAD for they are tighter range pairs and thus result in less false breakouts.
Get the Inside Day Breakout Strategy Expert Advisor Here.
You can optimize the source code in anyway you want!
Disclaimer: Do know that forex trading involves extremely high risks. While there are profits, there are times of losses too. I do not guarantee success using this EA and absolutely will not bear any responsibility for any losses that you make. You should be doing lots of back and forward testing on your own before trading with real money!
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