Watch the testing video here:
Dolly Breakout Strategy
The Dolly Breakout Strategy is a forex intraday trading system.
Dolly Breakout trading system (the famous sheep) is based on the original indicator called valasholic13 v2.5.mq4 and the original author is valasholic mods and stuff by Linuxser for Forex-TSD. The code formula of this version of the Dolly Breakout has been modified by joy22 to be used in the latest version of MetaTrader 4 trading platform.
How to trade with the Dolly Breakout Strategy?
To open buy and sell trades follow the instructions displayed on the charts (top left corner).
In this breakout strategy we have two areas:
- Buy area with two buy levels.
- Sell area with two sell levels.
We have also the upper and lower correction area for entry in direction of the trend on the retracement.
For example: if the trend is up, we entry buy on the lower correction area, if the trend is down we entry sell on the upper correction area.
How to install the Dolly Breakout Strategy on your Metatrader 4 trading platform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Dolly Breakout Strategy files into following folder of your Metatrader 4 (MT4) platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on dolly.mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
In the archives you will find following Metatrader 4 files included:
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