BO an Expert Advisor based on Breakout Price

BO FEATURES

 (User Manual, Guide and Set File)

- BO is based on the symbol’s price actions after a defined period of time and making a BreakOut.

- It trades ANY Forex symbol, ANY metal symbol. We recommend major ones: combinations of USD,GBP,JPY,EUR,AUD,CAD,XAU.

- User may run any number of symbols in parallel by running an instance of this robot on each symbol.

- It does not use grid, martingale, or hedging strategies.

- Account type: Netting or Hedging. It always use Netting rules.

- User level required: from beginner to expert traders. It requires user to know the MetaTrader 5 Optimization tools as we recommend to optimize parameters before running live.

- All time frames are available. 

- All trades are opened with a Stop Loss automatically. Never lose more of what you risk in a given trade.

- User may select which days of the week to trade.

- User may select a time window for trades (start/end hours).

- Multiple methods for opening Take Profit (TP) calculation.

- Multiple methods for the opening and trailing Stop Loss (SL) calculation.

- Multiple methods to handle large changes in price (positive or negative).

RISK MANAGEMENT

- Multiple ways to calculate your money at risk, and lot sizes.

- Proprietary Firm friendly: at every tick, it checks max daily loss and max account loss limits.

- It closes positions and suspends trading until next day if daily loss limit is approaching.

- It closes positions and stops trading if account loss limit is approaching.

- It stops trading when Prop. Firm target is achieved (optional).

HANDLING NEWS and WEEKENDS

- It handles high importance news (it ignores low and medium priority news).

- It handles open positions and pending orders before and after the news.

- It handles open positions and pending orders before weekend starts.

OPTIMIZATION

- We recommend to run the MT5 optimization tool every one or two weeks on the symbol of your interest.

- We recommend to optimize with the Generic Optimization Formulation (GOF) explained in this article: https://www.mql5.com/en/articles/14365

YOUR COMMITMENT IS REQUIRED

The more time you spend learning this EA, and the more often you optimize parameters, then the more likely the EA will perform well. BO has lots of parameters, each with multiple levels, hence the need to optimize them. In one hand, this “feature” may seem a disadvantage compared to other simpler EAs, on the other hand, you have in your hands the power to improve the EA as weeks and months pass. Other simpler EAs (some of them that only work for one symbol and cannot be optimized) will work well for a while, but eventually will under perform due to changing market conditions. BO can be optimized as the market changes. We recommend to optimize parameters weekly or bi-weekly, but you can do it less or more often.

THE TRADER’S ENVIRONMENT: A CRITICAL FACTOR IN BACKTESTING

Every trader operates within a unique environment, defined by three key components:

1. Broker : Prices, spreads, leverage, fees, and commissions vary across brokers, impacting trading outcomes.

2. Network : Local internet connection speeds influence execution speeds, affecting entry and exit prices.

3. Computer : Processing power and internet connection speed combine to determine delays and slippage.

These environmental differences mean that two traders using the same:

- Expert Advisor (EA)

- Input set file

- Symbol

- Time frame

- Dates

will never achieve identical backtest results. While results may be similar, variations in environment ensure that outcomes will always differ. Therefore, running optimization of the input parameters before you start trading in your environment is critical. This step helps ensure that your trading strategy is tailored to your unique environment, maximizing its potential for success.

Risk Warning

• Before purchasing this (or any) EA, be aware of the risks involved.

• Past performance is not a guarantee of future profitability (EA could also incur losses).

• Back-tests shown (e.g., in screenshots) are optimized for the training data, and the performance cannot be directly applied to live trading.

• There is a probability (although small) when using any EA that you may lose money in all your trades.

• Hence, risk the amount of money you are comfortable losing.