Hans Breakout Indicator!

[scorpion]

This is the first indicator for Hans Simple Combined Breakout System ever coded. It features configurable sessions, breakout pips, and exit time.

This indicator is a must have if you want to follow Hans Breakout System. It gives all the visuals you ever needed.

How to read signals:

• Buy when price crosses up red dot (resistance). There can be two trades in a single day, because there're two string of red dots.
• Sell when price crosses down blue dot (support).
• Set stop loss 50 pips away (EURUSD) or 70 pips (GBPUSD). If the other end of breakout is closer, then set SL to the breakout.
• Close all orders and trades when the dots end.

Enjoys!

[gazuz]

Correct me if I'm wrong but isnt this the type of expert that looks good in the past but in live the indicators adjust themselves to look profitable? I remember with the support and resistance i used the dots appeared and dissapeared moving as time went on...

let me know if this another good-looking but bad-trading expert

[scorpion]

Heh i know what you're refering to, the Support and Resistance by Barry. The indicator is notorious, because it lies. Fortunately, i found a way to make it static forever, no more repainting the past. I created new indicator to substitute Barry's S/R. Check it out: Super S/R.

Indicator in this thread is totally different. It's based on Simple Combined EURUSD and GBPUSD breakout by Hans123 (a member of strategybuilderfx). Curious to see the profit visually, I gave it a shot to make this indicator. It doesn't look good at all on chart.

[sajioommen2]

Hello,

If any of the forum members has coded the Hans Breakout System for use in AMIBROKER could you kindly post it. I am finding very difficult to convert the published Hans Breakout System(MT4) to Amibroker Formula Language(AFL).Looks like it is beyond my programming capability.The Hans Breakout System looks very interesting.

Thanks

Saji

[et_phonehome_2]

Originally Posted by scorpion

Heh i know what you're refering to, the Support and Resistance by Barry. The indicator is notorious, because it lies. Fortunately, i found a way to make it static forever, no more repainting the past. I created new indicator to substitute Barry's S/R. Check it out: Super S/R.

Indicator in this thread is totally different. It's based on Simple Combined EURUSD and GBPUSD breakout by Hans123 (a member of strategybuilderfx). Curious to see the profit visually, I gave it a shot to make this indicator. It doesn't look good at all on chart.

What do you mean "It doesn't look good at all on chart"? Are you saying its not good for trading the breakouts?

[scorpion]

No significant profit seen on chart is what i meant. Yup not recommend it for trading. I suspect that Hans is lying for months, but only several guys catch that. Experts that exactly implement his rules fail, while he's bragging his positive 1000+ pips profit every month from manual trading.

I don't get it... Maybe you download the indicator, and see if you can help us replicating Hans's amazing result.

[et_phonehome_2]

I had also attempted to replicate his results, as far I can tell you, its not possible, and to take much high risk as far as I am concerned. The only reason I had questioned it to see if maybe others have had different results or if there is maybe another method out there that can help in breakouts...

[sorrells97]

I have downloaded the HANSBreakout & Hans123MV22 MT4 files and have loaded them into Strategy Builder. I have a couple questions:

1. The HAns123MV22 doesn't actually show anything at all. Is there something I am not doing correctly?
2. THe Hansbreakout does show the Blue and Red dots. Do I have to do anything else (ie. change my clock. etc.) to understand this indicator properly)?
3. I think I know to enter a postion when price crosses up through red lines(long), and down through blue lines (short). But what is the exit strategy? When do I take profits? Do I just use a trailing stop or what?

Any help would be appreciated.

[Foxford]

Thanks for making this as an indicator. Looks really nice.
In general, with breakout systems, you must devise trailing stops around your entries in order to retain profits. Very important !
Start with a break-even stop after for example 15 or 20 pips. Leave it at that and wait and see what the day brings. So you close out at the end of the day.
Alternatively, trail your stop further with further progress into your direction.

[yaron45]

Originally Posted by scorpion

This is the first indicator for Hans Simple Combined Breakout System ever coded. It features configurable sessions, breakout pips, and exit time.

This indicator is a must have if you want to follow Hans Breakout System. It gives all the visuals you ever needed.

How to read signals:

• Buy when price crosses up red dot (resistance). There can be two trades in a single day, because there're two string of red dots.
• Sell when price crosses down blue dot (support).
• Set stop loss 50 pips away (EURUSD) or 70 pips (GBPUSD). If the other end of breakout is closer, then set SL to the breakout.
• Close all orders and trades when the dots end.

Enjoys!

I didn't understand how it works, so many dots blue and red ? Can you help with examples ?