London Breakout Indicator & Strategy is a complete London breakout forex system that is quite popular among currency traders named the London Forex Rush indicator system. It only gives one signal a day at 3:00 am EST or 8:00 am London Time. since, how the London breakout works.
The indicator is based on the previous Tokyo trading range together with a secret trading ingredient. At the opening of the London trading session, the indicator will indicate whether to go long, short, or stay aside.
Moreover, the London Forex Rush indicator system will give you the exact entry level, stop loss (aggressive and conservative) and take profit level (aggressive and conservative). All details are visible on the trading chart.
London Breakout Indicator system can give you trading signals you can take as they are or add your additional chart analysis to filter the signals further, which is recommended. While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
It’s recommended to use London Forex Rush on 6 pairs including the GBP currency. Use it on the GBPUSD, GBPJPY, GBPCAD, GBPAUD, GBPCHF, and GBPNZD currency pairs for best results. From my own experience, it’s easy to use in M15 but works same on any time frame below H4.
London Breakout Indicator Strategy
Signals from the London Forex Rush MT4 forex indicator are easy to interpret and go as follows:
- Open your charts a little before the London market opens at 3:00 am EST. Make sure the six GBP crosses(GBPUSD, GBPJPY, GBPCAD, GBPAUD, GBPCHF, and GBPNZD ) are set to the H1 time frame and everything working fine.
- Edit Tokyo start/end and London start time according to your broker time
- At 3:01 am EST, right as the London market opens, the indicator will come alive. It will call one of three things: a “Long Trade” opportunity, a “Short Trade” opportunity, or a “No Trade”. If there is a trading opportunity, it will also point out the entry point, stop loss, profit target, and lot size levels.
- Before taking a trade, check the Market Trend indicator to verify whether the chart is up trending (green color), down trending (red color), or not trending at all (grey color).
- If the indicator calls a trading opportunity, we will only take that trade if two conditions are met,
- If the breakout takes place before the countdown expires
- If the breakout occurs in the direction of the Market Trend indicator. If both these conditions are not met, will pass on the signal given by the London Forex Rush indicator.
- Finally, If we do make a trade, we will exit it as soon as either the stop loss or the profit target level is hit. Again, I recommend using the aggressive stop loss and the conservative profit target, but that choice is up to you.
Please refer to the manual for a more in-depth explanation and advanced Strategy.
- Read More London Breakout Forex Trading Strategy