Trading Robots for MetaTrader 5
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MetaTrader 5
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Overview
Range Trading
Range trading is a strategy that focuses on identifying periods when the market is consolidating rather than trending. During consolidation, the price moves within a defined range, bouncing between a "range low" and a "range high". The EA will look to trade on these price movements by buying near the range high level and selling near the range low level.
Range Break Out Strategy
Now based on these established range highs and lows, we want to trade on strong impulse break outs. The trades aren't taken right at the range highs or lows to avoid fake outs, instead they are taken once a candle closes above or below the ranges and by making sure that the candle that is breaking out meets a certain size criteria for the break out.
This expert advisor trades strong impulse and range break outs. It's also designed as a long term investment EA, meaning this EA is not for day trading, scalping or "getting rich quick". The EA is also created for asset preservation and risk management.
- Timeframe: 4 hour (H4)
- Risk: "0.01" (Default). Remember to never risk more than 1% of your account balance.
- Currency Pair: GBPJPY or USDJPY
