• Moving average convergence divergence (MACD 500,250). One of the more popular methods of trend visualization. Only histogram is considered.

• Envelopes (period 80, deviation 0,4): We will use this indicator to draw a simple tunnel consisting of average high and low price.
• Breakout candle (range 30 – 150 pips). Candle with defined body range surpassing the tunnel boundaries. Volume on the signal (breakout candle) must be larger than on previous candle. This is a basic breakout confirmation premise. Growing volume signalizes more interest in breakout (price continuing to move in breakout direction) as the candle approaches support/resistance of the tunnel.
• Advanced trailing stop (extra deviation for trail stop 20 pips). Once we enter the trade, we will be looking to ride the breakout for as long as possible. We will adjust our trailing stop with each candle close only in the direction of profitable trade.

Rules

SELL

1. MACD histogram trending below zero. Downtrend.
2. We will be looking for a breakout on bottom envelopes line (support).
3. Breakout candle: Bearish candle closing below the bottom envelopes line, while previous candle closed within the tunnel. Volumes Reading on the breakout candle is larger than on previous candle. Breakout candle must have defined body range (enough momentum) to be considered a valid breakout.
4. Trailing stop is placed above the high of breakout candle + extra distance above, to cover that unexpected moves. TS is the only way how to close the trade, in this breakout forex strategy.

BUY

1. MACD histogram trending above zero. Uptrend.
2. We will be looking for a breakout on upper envelopes line (resistance).
3. Breakout candle: Bullish candle closing above the upper envelopes line, while previous candle closed within the tunnel. Volumes reading on the breakout candle is larger than on previous candle. Breakout candle must fall within defined body range (enough momentum) to be considered a valid breakout.
4. Trailing stop is placed below the low of breakout candle - extra distance below, to cover that unexpected moves. TS is the only way how to close the trade, in this breakout forex strategy.

Expert advisor is based on transparent and fully tested forex strategy.

Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.

Main features of this expert advisor:

• Tested on high quality data: High accuracy testing on EURUSD data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
• All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
• Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
• Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
• Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
• Works on any currency pair
• Expert advisor will not draw any indicators in your chart.

Disclaimer and user agreement:

Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.