SQ Dynamic Breakout Box Indicator
Squalou default settings (4,60,30)
+ Breakout candle should be wholly in one half of the CZ (top half for long, bottom for short)
+ Candle should move 5 pips beyond the CZ before entry (to minimise impact of fake breakouts)
+ Enter when market moves 5 pips beyond CZ (inital stop loss = middle of the CZ zone, so on a 30pip CZ box SL=5+15=20 pips — this also means if you follow entry rule 1 it is below the low of the candle).
Trading Pattern: (gradually sizing out)
+ First TP at +10 pips (+15 from CZ), close half of your position, move SL to the edge of the CZ (at this point you will have locked in +5 pips profit)
+ Second TP (close your remaining position) at +20 pips (+25 from CZ) OR when a second CZ forms
You’re out within 25 pips of the CZ which based on the average Buy/Sells from Squallou’s indicator looks just inside the average… so you can probably squeeze out more profit if you’re game.