MyFxBots

If the market holds large volumes and a strong trend is moving, the price may pass through an existing support or resistance line, and not rebound from it. Breakout trend expert advisors can beneficially exploit this price behavior.

  • If the price line breaks through a resistance level from below it up, it'll then returns to it during the correction but is not always able to break through it back again from the other side and keeps bouncing up from the level of the broken resistance line, so an upward trend is formed turning the broken resistance line into a support line after the breakout ends.
  • If the price line breaks through a support level from above it down, when returns to it, the price isn't always able to break through it back again from the opposite side now, but ricochets off that level and continues slopping downwards forming a downtrend and turning the support line into a resistance line after the breakout.
  • The price also can cross a support/resistance level back from the opposite side during the correction of a previous breaking through it, in this case, it returns to the previous price range, what is called a false breakout.

This Forex trading strategy was transformed by expert Forex programmers into automated Forex systems, and below are reviews of some of them that proved to be profitable:

As the name suggests, Forex Combo System is a collection of several subsystems, four to be clear. The most accurate description that fits it is "four different EAs joined together". The result of such an EA could be considered "Pleasant" as you will discover this yourself after some further reading, It's an easy-to-use EA and is one of the most solid automated trading systems that I've ever seen.
 

Currency Pairs: EURUSD, GBPUSD, EURAUD and EURCAD
TimeFrame: M15
Updated On: Tue Sep 25th, 2018
4.5/5
462 total votes.

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