Best Intraday Breakout is a real intraday strategy that find the direction of the price. What's the direction of the price today? This is the question.
Best Intraday Breakout is a good trading system that answers this question.
Time Frame 15 min.
Financial Markets: Forex, Indicies.
MA Parabolic st 2.1 ( MA 14, Parbolic 0.1 – step 0.11);
Price action channel ( EMA 3 high – EMA 3 Low);
Breakout Box, (Start 03:00 – End 18:00);
Breakout Daily Targets;
ITM Signal (14, Cycle 5);
Flat Indicator (default setting).
When the price break up the box wait that the price is into the price action channel and Buy if ITM Signal is green, Flat indicator is green and the price is above the MA parabolic indicator.
When the price break down the box wait that the price is into the price action channel and Sell if ITM Signal is red, Flat indicator is red and the price is below the MA parabolic indicator.
Re-Entry (optional) with the same conditions.
Exit on the daily targets.
Place stop loss on the previous high/low swing and move stop loss at the break even with 15 pips in gain.