Forex trading system “Trendline Breakout and Fibonacci Trading System”

 This system is based on the idea of breaking the trend line. It is applicable to all currency pairs. “Trendline Breakout works more precisely on timeframes 1 hour and above. We don’t predict movement, we follow the trend and wait for the signal to enter. The system uses trend lines and Fibonacci levels. In an uptrend, the line is drawn below the price by combining two lows. With a downward trend, the line connects the falling highs. The cooler this line, the stronger the signal.There are two kinds of trend lines that we are going to use in this system. This is the main trend and the junior trend. The junior trend line goes in the opposite direction inside the main trend. The Breakout Trendline indicator is used to simplify the work in the system.This indicator draws both trend lines, and in the upper left corner of the chart shows their parameters and breakdown level.A set of conditions for entering purchases. The main trend is upward. Junior trend downwards. After breaking the junior trend line, we open a position to buy. After that, pull the Fibonacci grid from the senior trend line to the entry point. The stop-loss is set to zero and the take-profit is set to 161.8.When selling, the main trend should be directed downwards, and the junior trend should be upwards. We open a position for sale at the break-down point of the internal trend. Stop-loss and Take Profit are set similarly to purchases.Other Fibonacci levels of 261.8 and 423.8 can also serve as levels of profit achievement. It is also possible to apply a tactic of partial closing of positions at these levels and pulling stops to the previous level.The Trendline Breakout and Fibonacci system can be considered as a medium term one, as depending on the timeframe one transaction can last from 2-3 days to several weeks.Download indicator