Breakouts With Timefilter Strategy [LuciTech] by TradesLuci
By TradesLuci
Performance Metrics
- Author: TradesLuci
- Symbol: FOREXCOM:GBPUSD
- Timeframe: 5 minutes
- Net P&L: +1,773.68 USD (+17.74%)
- Win Rate: 38.7%
- Profit Factor: 1.837
- Max Drawdown: 805.77 USD (6.96%)
- Total Trades: 31
- Sharpe Ratio: 0.216
Description
This strategy captures breakout opportunities using pivot high/low breakouts while managing risk through dynamic stop-loss placement and position sizing. It includes a time filter to limit trades to specific sessions.How It WorksA long trade is triggered when price closes above a pivot high, and a short trade when price closes below a pivot low.Stop-loss can be set using ATR, prior candle high/low, or a fixed point value. Take-profit is based on a risk-reward multiplier.Position size adjusts based on the percentage of equity risked.Breakout signals are marked with triangles, and entry, stop-loss, and take-profit levels are plotted. moving average filter: Bullish breakouts only trigger above the MA, bearish breakouts below.The time filter shades the background during active trading hours.Customization:Adjustable pivot length for breakout sensitivity.Risk settings: percentage risked, risk-reward ratio, and stop-loss type.ATR settings: length, smoothing method (RMA, SMA, EMA, WMA).Moving average filter (SMA, EMA, WMA, VWMA, HMA) to confirm breakouts.