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Discussion in 'Forex Market MQL5' started by James Goldman, Sep 8, 2020.

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James Goldman
  1. James Goldman

    James Goldman Moderator
    Staff Member Organizer

    Jun 15, 2020
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    This Expert Advisor is based on a very simple strategy: the break out strategy.

    You can choose the period in which the EA searches the highest and the lowest price, when the price breaks out of this range:

    • above the highest price a buy position is opened
    • below the lowest price a sell position is opened
    After each new candle the EA determines the new highest and lowest price and changes the stop loss.

    So this EA doesn't use a take profit, it just changes the stop loss to the lowest point of your choosen period after every new candle.

    There are two options for the money management:

    • if you choose "exponential" as false, every order is opened with the Size you type in "LOT"
    • if you choose "exponential" as true, the position size of the orders is handled like this: for every 100$ on your account the size of the order increases by the amount typed in "LOT".
    Example: "exponential" = true , "LOT"=0.01

    Account: 2499$ => order size is 0.24 lot

    Account: 2500$ => order size is 0.25 lot

    Remark: I would recommend the exponential mode with 0.01 Lot, on H1 timeframe, for the settings of the period I would recommend you to do first a backtest on the currency pair you wish to trade, because on different pairs different periods are profitable.

    As you can see in the pictures I backtested the EA only on H1 timeframe on EURJPY and USDJPY, but you can test it on every pair and timeframe you want, you just have to adjust the period. I optimezed the EA on USDJPY and EURJPY on the MetaQuotes Demo account, and the optimal period is 13, but perhaps on another broker it is slightly different, so I would recommend you again to do a optimization by yourself to get better results. In the near future there will be also a signal of this EA, where you can see how it works on real market.

    Further questions you can ask in the Comments area.

    breakout-screen-9350.JPG breakout-screen-1374.JPG breakout-screen-3867.JPG breakout-screen-8776.JPG


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