A systematic breakout strategy designed to capture short-term trends with an average holding period of 6 days.
Place Buy Stop at 12097, If done place Stop Loss at 11250. If orders are not filled, cancel orders at the end of the trading session at 24:00 UTC+0. ----------------------------------------------------------------------------------------------------------------------------------------------- Legend: DC(10) Up := Donchian Channels upper band (10 length). DC(4) Low := Donchian Channels lower band (4 length). IntStp(7%) := Initial Stop Loss set at 7% below entry price. PFZone := Exit/profit taking indicator (green diamond).
Entry Rules: 1. Place a Buy Stop at the DC(10) Up Price. 2. If buy stop is filled, place the IntStp(7%). 3. However, if orders are not filled, cancel orders at the end of the trading session at 24:00 UTC+0.
Exit Rules: 1. At 00:00 UTC+0, if the DC(4) Low is higher then the IntStp(7%), than adjust stop loss to the DC(4) Low price. 2. However, If IntStp(7%) is above the DC(4) Low, then use the IntStp(7%). 3. If the PFZone has been triggered then exit at open on market at 00:00 UTC+0.
Notes: The Profit Zone is a proprietary indicator designed to improve the performance as an alternative exit rule. However, the strategy is a stand-alone system and does not require the profit zone indicator.