Daily Breakout EA 3.7(MT4/MT5)
Overview
This EA trades daily breakouts placing bidirectional pending orders using the last day’s trading range, provided these price levels have not been yet tested. It offers many trading behaviors and flexible position management settings, plus a martingale and inverse martingale mode.
Easy to use and supervise
Customizable break-even, SL, TP and trailing-stop
Works for ECN/Non-ECN brokers
Works for 2-3-4-5 digit symbols
Implements a martingale and inverse martingale features
Trading is NFA/FIFO Compliant
Built-in money management
Four different trading behaviors are available in the EA inputs:
Regular: The EA will buy at yesterday’s high and sell at yesterday’s low
Inverse: The EA will buy at yesterday’s low and sell at yesterday’s high
Only Buy: The EA will buy at both price levels
Only Sell: The EA will sell at both price levels
Additionally, it implements four different money management modes:
Trade manual lotsize: The EA will trade a fixed lotsize on each trade
Auto-calculation of lotsizes: The EA will risk % of the account on each trade
Martingale: The EA will double the lotsize after a losing trade
Inverse Martingale: The EA will double the lotsize after a winning trade
Overview
Input parameters
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
Trading Settings
Select trading behavior: regular, inverse, only buy or only sell.
Position Management
This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, break-even behavior, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips. Closing pending orders when a trade is taken is optional.
Money Management
In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale and inverse martingale behavior. Trading can be NFA/FIFO compliant if selected.
EA Settings
You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
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