Breakout Trader Pro is an automatic trading tool (“Expert Advisor” or “Expert Advisor”) that uses set time periods to trade range breakouts (you set the time yourself).
With it, you can set any timeframe as the range period, as well as specify the maximum range size, the distance for trailing the stop loss level, and other parameters, which optimizes the FULLY AUTOMATIC long-term trading of range breakouts.
Specify the start and end time of the range that you want to check for breakouts, and the Expert Advisor will calculate the maximum and minimum of this range and place pending orders according to your parameters.
The Expert Advisor opens Buy and Sell orders above and below the range you set and automatically calculates the stop loss and take profit based on the percentages you set.
The time range can start and end at any time you specify. Breakout Trader Pro includes the end time of the range, the number of hours in the past, which indicates the beginning of the range, as well as the start time of the Expert Advisor. On our website, you can find recommended settings for different pairs. But they can be changed for a certain trading style.
The risk calculation option also allows the expert to manage the lot size by calculating the current available balance, and open trades with the size corresponding to the set risk%.
- The Expert Advisor is designed for the Metatrader 4 platform
- Two lines: the high level for the BUY signal and the low level for the SELL signal
- Trailing stop loss level and automatically adjustable take profit level
- Stop loss and / or take profit are set as a percentage of the range size
- The time is not limited to the period from 00: 00 to 23: 59
- You can set a fixed stop loss or use advanced money management
Below are the results of the testing on the history, which was conducted with a deposit of $ 5000 and a lot size of 1.0. The default settings are recommended for trading the EUR/USD pair.
- Lot Size — The size of each automatically placed pending order.
- Minimum TP-TP= “take profit”. Take profit is the price at which the active order will be closed if it is reached by the current price. The MinimumTP parameter specifies the level closest to the opening price, to which TP can be set according to the Expert’s calculations.
- Max TP — The maximum distance (in MT4 points or pips) to which the TP point (take profit) is set when the expert creates pending orders.
- Move TP? — (If the value is Y, TP will move to the Min TP level described above). If this parameter is set to Y at the current price in the Min TP range, then the TP level will constantly move to maintain at least this distance.
- Show Box? — (If the value is Y, the range will be indicated by a square. Up to 5 squares can be placed on the chart at the same time)
- Close open orders the next day? — (If set to Y, any open order will be closed when open orders are placed for the next range)
- Use Trailing Stop? — If the value is Y, the trailing stop loss level (TSL) will work for all open orders on the chart.
- Distance to maintain Trailing Stop — (Distance for price trailing when SL level trailing is enabled. If the value is 0, the distance will be the same as the SL activation level.)
- Place orders immediately on start up? — Set the value to Y if orders need to be placed immediately after the Expert Advisor is launched
- Risk % of account — (If the lot size is set to zero, this parameter will be used to calculate the appropriate lot size depending on your account balance and margin requirements. If the value is 0, the default value is 1%.)
- EOP — (End of the range period). The UTC time at which the period in question ends.
- NUMH — (The number of hours in the past, starting from the end of the range, which determines its beginning).
- ACTIME — (The time when the Expert Advisor is activated and pending orders are placed). The time when the pending orders were actually created.
- Distance — (The distance of placing pending orders from the maximum / minimum of the range in pips)
- SLAP — (Percentage of the range for setting the trailing SL level)
- SLDD — (The distance between opposite orders for placing SL). Placement of entry-level SL pending orders.
- MNSL — (Minimum stop loss in points). For example, if the chart shows prices up to 5 digits, then 1= 0.00001 (=1 pips on MT4)
- MXSL — (Maximum stop loss in points). For example, if the chart shows prices up to 5 digits, then 1= 0.00001 (=1 pips on MT4)
- TPPC — (Percentage of the range for setting the TP level). For example, a value of “150” will set the TP point to 150% of the range height.
- MXR — (The maximum size of the range for trading). Restricts trading to the maximum lot size for the timeframe in question.
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