Hey Gang,
Added new settings...
Enable_BreakOutBox: Enables trading using breakout method using either horizontal or trend lines.
BarsClosedOutsideBox: How many bars need to close outside the lines before entering a trade?
DeleteChannelOnBreakOut: Obvious... Don't know why I typed it here.
Trade_Inside_Box: Play the range whilst waiting for a breakout?
The following settings are only applied to trades when we're trading inside the box...
Bob_StopLossTargetPips: Initial StopLoss of trades entered inside the box/channel (may be changed to a percentage entry).
BobBE_Percent: BreakOutBox/Channel BreakEven, as a percentage of BoxSize (50 = 50%)
BobBEProfit_Percent: BreakOutBox/Channel BreakEvenProfit, as a percentage of BoxSize (10 = 10%)
BobJumpStop_Percent: BreakOutBox/Channel JumpingStop, as a percentage of BoxSize (50 = 50%)
The standard trade management settings are applied once price moves outside the box/channel...
You will see the feedback change as price moves into and out of the breakout zone, but current trades' stoploss isn't moved until price moves the correct distance according to where the trade was entered (e.g. BE at 50 pips for a breakout trade, or 20 pips for a range trade).
A little bit about the Limit lines...
If Enable_BreakOutBox is false, then the Sell and Buy Limit orders work as normal, i.e. price moves up and hits the SellLimit line, and a sell market order is sent instantly, with the opposite for the BuyLimit line.
If, on the other hand, Enable_BreakOutBox is is true, and Trade_Inside_Box is also enabled, then the Limit lines are used a little differently... Price has to close above the SellLimit line, then hit it from above (exactly like a SellStop), with the opposite for the BuyLimit line.
Squalou has graciously allowed me to post my modded version of his DynamicBreakoutBox indicator, which will draw the Stop lines (and the Limit lines, if enabled), and move them when a new box is formed. Explanation of the settings
here.
Have fun!
Radar =8^)