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REGISTER PARTICIPANTS Expert Breakout Trader Lite Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Sep 11, 2020.

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James Goldman
  1. James Goldman

    James Goldman Moderator
    Staff Member Organizer

    Jun 15, 2020
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    Breakout Trader Lite is a simpler
    version of our Breakout Trader pro EA.

    It allows you to specify any time
    frame you wish as the range period, and allows you to specify fixed TP distance
    and trailing stop loss distances.

    You specify the start and end times
    of the range you want to check for breakouts, and the EA calculates the high
    and low of that range and places pending orders according to your parameters.

    The EA opens Buy and Sell orders
    above and below the range you set and automatically sets the Stop Loss and Take
    Profit based on parameters set by you.

    A time range can start and end at
    any time you wish. Breakout Trader Pro has an end time to the range, number of
    hours back to specify the start of range and also the trigger time to start the
    The risk calculation feature also
    lets the EA manage your lot sizes by calculating your current available balance
    and open trades at lot sizes in accordance with your set % risk setting.

    • EA is designed for MetaTrader 4 platform
    • Can handle two lines: high level for BUY signal and low
      level for SELL signal
    • Fixed Trailing Stop Loss and TP levels available
    • Time period not restricted to 00:00 to 23:59
    • Lot size can be fixed or EA can use Advanced Money
    Available Settings:
    • Lot Size: This
      is the size of each pending order that will automatically be placed.
    • TP: Fixed TP level in pips from the order price.
    • Show Box? (If "Y" then a box will be drawn around range. Max 5 boxes on
      the chart at a time)
    • Close open orders the next day? (If "Y" any open order will be closed when
      the pending orders are placed for the next range)
    • Use Trailing Stop? If set to “Y: then trailing stop loss (TSL) will be enacted for all open
      orders on the chart.
    • Distance to maintain Trailing Stop: (This sets the distance to trail the price once
      trailing SL is activated. If "0" then distance will be the same
      as the SL activation level)
    • Risk % of account: (If the lot size is set to zero, then this will be used to calculate the
      appropriate lot size depending on your account balance and margin
      requirements. if "0" default is 1%.)
    • End
      of Period:
      This is the Hour that
      designates the end of the period being examined. This is set to the users
      broker time.
    • Number of Hours in Period: How many hours to look back from the end to find the
      start of the range.
    • Activation Time:
      Time to activate the EA and place the pending orders. This is the time it
      actually creates pending orders.
    • Distance:
      Distance to place the pending orders from the High/Low of the range in
    • SLDD: (Distance between opposite side order to place the fixed SL) Positioning
      of initial SL of pending orders.

    breakout-trader-lite-screen-5792.png breakout-trader-lite-screen-1465.png breakout-trader-lite-screen-3025.png


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