Strategy Trendline Breakout Trading Strategy With Awesome Oscillator

[mk4tx]

This is a Trendline Breakout Trading Strategy With Awesome Oscillator. In this case, the awesome oscillator is used for trad entry confirmation.
Timeframes required: Any

Currency Pairs: Any

Forex Indicators: Awesome Oscillator with default settings.

For the buying and selling rules, refer to this chart below showing you the buy and sell setups:

BUYING RULES

1. Draw a downward trendline and wait for price to break it, which means a candlestick closes above the trendline.
2. When that happens, next thing you do is check to see if you see the awesome oscillator bar is green and if so you got to step 3.
3. Place a buy stop order at least 2 pips above the high of that candlestick that is above the trendline.
4. Place your stop at least 2 pips below the low of the nearest swing low.
5. For take profit, use previous swing high point or if that does not exits, then use 1:2 or 3 risk to reward ratio to calculate your profit target.

SELLING RULES

1. Draw an upward trendline and wait for price to break it, which means a candlestick closes below the trendline.
2. When that happens, next thing you do is check to see if you see the awesome oscillator bar is red and if so you got to step 3.
3. Place a sell stop order at least 2 pips below the low of that candlestick that is below the trendline.
4. Place your stop loss order at least 2 pips above the high of the nearest swing high point.
5. For take profit, use previous swing low point or if that does not exits, then use 1:2 or 3 risk to reward ratio to calculate your profit target.

 

[angelpub15]

thanks for sharing definitely going to try worth trying

 

[daveand]

Thanks for sharing. Do you mind telling what is other indicator on the chart you are using?

 

[xerosystem]

Wow good one thank you for taking the time to share!

 

[Tolu234]

This is a really good strategy. I have always loved trendline breakout but combining it with Awesome Oscillator adds an extra confirmation. thanks for sharing

 

[Islam.Osg]

This is a really good strategy >>> thanks for sharing

 

[successnvt]

This is a Trendline Breakout Trading Strategy With Awesome Oscillator. In this case, the awesome oscillator is used for trad entry confirmation.
Timeframes required: Any

Currency Pairs: Any

Forex Indicators: Awesome Oscillator with default settings.

For the buying and selling rules, refer to this chart below showing you the buy and sell setups:
View attachment 3814
BUYING RULES

1. Draw a downward trendline and wait for price to break it, which means a candlestick closes above the trendline.
2. When that happens, next thing you do is check to see if you see the awesome oscillator bar is green and if so you got to step 3.
3. Place a buy stop order at least 2 pips above the high of that candlestick that is above the trendline.
4. Place your stop at least 2 pips below the low of the nearest swing low.
5. For take profit, use previous swing high point or if that does not exits, then use 1:2 or 3 risk to reward ratio to calculate your profit target.

SELLING RULES

1. Draw an upward trendline and wait for price to break it, which means a candlestick closes below the trendline.
2. When that happens, next thing you do is check to see if you see the awesome oscillator bar is red and if so you got to step 3.
3. Place a sell stop order at least 2 pips below the low of that candlestick that is below the trendline.
4. Place your stop loss order at least 2 pips above the high of the nearest swing high point.
5. For take profit, use previous swing low point or if that does not exits, then use 1:2 or 3 risk to reward ratio to calculate your profit target.

Thanks for sharing. It can be better if you make and EA and do backtest.