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Home Trading Systems Magic Breakout Plus

Magic Breakout Plus

Magic Entry Rule
The rules are similar to the MagicBreakout strategy rules. First, we will discuss long entries. Have an eye to the changes.
● Be sure that the market is trending up.
We have defined the perfect trend in Chapter III: Perfect trend.
● Price was above the Wave for some time.
(above the Wave-top)
● Price entered the Wave. Price was above the Wave and then crossed the Wave-top downward.
● ColorCCI was yellow for at least five bars.
● CorolCCI changed the color from yellow to green; A POSSIBLE LONG ENTRY SIGNAL
on the next candle open.
This is a good signal to go long on the next candle open. But be careful…
● Check that all candle bodies were above the UpperWave. This important rule filters those swing patterns that plung too deeply.
● Check that the Wave was above the UpperWave at all candles. Again, this rule filters some other ugly swing patterns that plung too deeply.
● Buy now!

If all above is filled, buy as new candle opens.

Practical implementation
Practically, you must follow the written rules backwards:
● ColorCCI changed to green.
Was it yellow for at least five bars? Is it green now? If yes, continue to the next step.
Remember, the signal is valid only when the candle has already closed.
● Is price trending up perfectly?
Is price above the Wave-bottom? Is price above the UpperWave-bottom? Is Wave above the UpperWave? Stick with our definition! If yes, go to the next step.
● Do you see a valid swing pattern?
Train your eyes on the first few trades and you will see the swing pattern subconsciously without reviewing the rules. Review: price was above the Wave and then entered the Wave (in other words, price crossed the Wave-top downward).
There are two additional filters to throw away bad trades (ugly swing patterns):
1. Check that all candle bodies are above the UpperWave;
2. Check that the Wave is above the UpperWave (especially at the swing-low).
OK?
● Buy now!
And prepare your exit targets…

This is only a small part of User’s Manual. Download files to read whole ebook.

In the package you will receive following files:
ColorCCI.ex4
MagicEntry.ex4
UpperWave.ex4
Wave.ex4
MagicBreakoutPlus.pdf (User’s manual)

Magic BreakoutPlus free download:

LINK

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