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REGISTER PARTICIPANTS Expert Break Out Mt4

Discussion in 'Forex Market MQL5' started by Emma McNeill, Oct 3, 2020.

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  1. Emma McNeill

    Emma McNeill Moderator
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    #breakout

    break-dance-logo-200x200-7505.png

    The Expert Advisor is based on breakout strategy using H4 bars.

    For each new H4 bar, new pending BUY_STOP and SELL_STOP orders are sent. If an order is executed, it is watched by trailing stop functions.

    Some special time and price filters are applied to eliminate critical times.

    Intro
    • Timeframe: H4
    • Pair: EURUSD, USDJPY
    • Trade Style: Breakout strategy on H4 bars using trailing stops
    Parameters
    • StopLoss: Stop loss value for each order. Default: 75 points
    • TakeProfit: Target points for each order. Default: 750 points
    • Risk: Defines leverage used for each order. Default: x50
    • UseTrailStop: Forces EA using trailing stops. Default: True
    • TrailStart: Trailing stops starts at this level. Default: 35 points
    • TrailGap: Trailing gap. Default: 10 points
    • TrailStep: Step of trailing stop. Default: 10 points
    • RuHourBack: If your MT4 terminal hour is back from original MetaQuotes MT4 hour, use this parameter. Example: if your MT4 terminal hour is back 1 hour from MQ MT4, you should set RuHourBack=1 (the EA avoids to trade at some critical hours).
    Technical Details
    • Broker Selection: Five-digit ECN brokers with minimal EURUSD spreads should be preferred. Since this EA exits using stop loss, you will need a fluent execution, better if your stop loss order exists in market depth.
    • Testing: You can test this EA using H4 every tick mode.
    Unique Properties
    • Awareness of critical times: Dynamically decides critical times and exits from the market.

    break--out-screen-2224.png break--out-screen-4195.png

     
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