Breakout strategy needed

[Dewey McG]

Hello all,

The first EA's using ALR look promising and are performing well in back tests. However, I think it's best potential may be with a breakout strategy. With a breakout, we look for price to explode out of consolidation for a nice profit. When we are wrong, it turns out to be a false breakout and often shoots back down the other way. This is perfect for ALR since a strong move either way will result in either a TP or break even plus small profit.

I don't have as much experience trading breakouts except for one I used on 15m charts that might not be suitable. I am asking for suggestions based on EXPERIENCE, not just one that looks pretty on a chart at FF. Ideally the win rate would be high, even if the SL's were large since ALR would take care of that. It should be simple enough to code so we can test it with ALR.

Any recommendations?

[tienbanker]

hello,
In this forum have the topic named kill zone breakout, you can try it.
In my opinion, breakout just happen and confirm by large volume only. The market maker have enough the goods to run the way. the more longer consolidation zone the more price goes.
And i post here with my bad trade, eu when no stoploss, breakout with large volume and dead.

[JellyBaby]

I look for breakouts using a Bollinger Band Squeeze. In my experience, the longer the squeeze the more volatile the breakout.