Simple Combined Breakout System for EUR/USD and GBP/USD * Determine the 06.00 CET â 10.00 CET High Low on EUR/USD and GBP/USD * Determine the 10.00 CET â 14.00 CET High Low on EUR/USD and GBP/USD * Set BuyStop at High + 5 pips and SellStop at Low - 5 pips for both timeframes and both currencies * Set Target Price at entry + 80 pips for EUR/USD and entry + 120 pips for GBP/USD * Set StopLoss at entry - 50 pips for EUR/USD and entry - 70 pips for GBP/USD. If the other side of the breakout is within 50 pips for EUR/USD or within 70 pips for GBP/USD then the StopLoss will be that level (Longtrade: SL = Low range - 5 pips = SellStop; Shorttrade: SL = High range + 5 pips = BuyStop) * Move the SL to breakeven after a gain of 30 pips for EUR/USD and a gain of 40 pips for GBP/USD * If a certain position is taken and price turns agains you and it breaks the other side of the breakout channel then turn. If the breakout channel is broader then the stoploss first the stoploss will be hit. If the breakout channel is narrower then the stoploss then hitting the other side means that you have to turn your position. There is only one turn per time frame possible. This rule is a result of all previous rules. You can skip this rule if you want. * At 23.00 CET all orders expiring and close all trades at market. On Friday we do the same manually at 20.00 CET. This link displays the time in every major city in the world: www.qlock.com. I am using CET time (Amsterdam, Frankfurt). Backtests and expert advisors expiry dates 31/08/2009 are attached Expert advisors copyrights The copyright belongs to mqlservice. You will not receive the source code; however the code is copyrighted by MQL Service. It means that you cannot distribute the source code, and you are not allowed to distribute a compiled version.Your private usage is allowed. This expert advisor is used on live accounts with real money .It is set with autolot and Alpari U K times OILFXPRO Risk disclosure No advice or encouragement is given to trade any system ,instruments or markets.Trading carries a great risk of loss to capital. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Currency risk In respect of any foreign exchange transactions and transactions in securities and derivatives that are denominated in a currency other than that in which your account is denominated, a movement in exchange rates may have a favorable or an unfavorable effect on the gain or loss achieved on such transactions. Currency valuations are linked to a host of economic, social and political factors and can fluctuate greatly, even during intra day trading. Some countries have foreign exchange controls which may include the suspension of the ability to exchange or transfer currency, or the devaluation of the currency Read about buying trading systems this before using any system