Entry with The Break Out Box

One of the most widely trading strategy used by traders around the world is the technique of break out. Break out the technique is done with daily range based on a specific currency. For example on the currency pair GBP/USD, the average daily movements were more than 1000 pips (for the 5-digit brokers) or 100 pips (for 4 digit brokers) every day. On this break out techniques we await daily range forwarding by looking at the range on the Asian session. Because usually at Asian session a moving average of less than 50 points (less than 500 pips). Therefore, this technique is often used when will face London session open. We just need to wait for the right moment when the price will continue or reverses direction.

However, we need not bother to draw the highest and lowest points on the session before Europe, because there are indicators that can draw automatically break out box. Our job is just to wait until the price movement is above or below the box to break out of it. If the price of the top of the box over the limit then the prices will continue to rise. If the price of the lower part of the box over the limit then the prices will continue to fall. So just how trading using break out box, very simple. This way is very suitable if price movements are trending, as prices will continue up to hundreds of pips. Whereas if the State of the market is sideways then this method is not suitable.

By default the indicator box break out is as follows:

However, we can replace it according to the time the broker. If the time brokers, European session opens at 10.00 then we can change the time settings on the indicator.

How to change the time settings on this indicator with the following steps:

1. after we open the dialog box then select the tab "Inputs", then it would seem time settings by default.

2. then we change in the column "Period Begin", "Period End" and "Box End". Consider the following image:

3. If you've managed to turn it so the display indicator the break out box  as follows:

Then, how do I use the indicator box break out?

Consider the following image:

Entry Buy

• Entrance to the market when the London sessions are open
• Wait until the price past the top of the box with a distance of 50 pips (5 points) from the top price.
• We can directly buy, or pending orders (buy stop).
• So if the price continues rising we will benefit.
• Don't forget the stop loss with set it up under the break out box.

Entry Sell

• Entrance to the market when the London sessions are open
• Wait until the price past the bottom of the box with a distance of 50 pips (5 points) of the lowest price.
• We can sell direct, or pending orders (sell stop).
• So if the price continues down we will benefit.
• Don't forget the stop loss by installing it on top of the break out box.

Note:
Trending price movements should not happen every day, but every week there's high volatility to hundreds of pips. Therefore, the trading techniques with the break out are very effective, and will definitely get the profit in one weekend, although there are days we suffered a loss. However, the accumulation of the trading results during the weekend will profit (positive).

To download this indicator, please clik the link below:

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