Dynamicbreakoutbox Review

As some of you may already know, i have been involved in several Breakout strategies in the past year on the “London Breakout” and “3 Tier” threads from mer’s system, where i wrote indicators and EAs to trade those systems. As dynamicbreakoutbox is pointing out, “Time-based breakout systems (London, NY, Tokyo) are self-limiting.” This was the cause for many losses, and the reason for introducing martingaling mechanisms in the EA to try to turn the odds, with the known risks of the “death trade” if price carries on traversing the box area without hitting our TP.

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Since then I have been searching for a way to make these Boxes “dynamic” rather than rigid-time-based, so that the Box would form only based on PA and eliminate the time as much as we can.
Ddynamicbreakoutbox showed us here how to do that in a very simple way, and that picked my attention again on this topic.So I went back to my MetaEditor and started to play around with those Boxes that i had been manipulating for so long…He came up with the following indicator, which I think does now quite a good job at picking the “Dynamic Boxes”.

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