Trading Robots for MetaTrader 5
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MetaTrader 5
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Overview
MT5 BreakOut Strategy EA is an EA suitable for forex pairs or assets with trending movements, such as USDJPY and XAUUSD. This EA operates by identifying price breakouts within a predefined frame. The frame is divided into four sections: two on the top side and two on the bottom. Each section is marked with a line and a label for easy identification.
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New Top Line (NTL): The NTL is created when the price breaks the previous top frame. Alternatively, the EA can identify a new top candle that is optimal for the current market conditions.
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Last Top Line (LTL): The LTL is established after the price breaks above the NTL. When this happens, the EA updates the NTL to become the LTL, and a new NTL is created based on the latest price breakout.
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New Bottom Line (NBL): The NBL is created when the price breaks the previous bottom frame. The EA may also identify a new bottom candle that best fits the current situation.
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Last Bottom Line (LBL): The LBL is established after the price breaks below the NBL. When this occurs, the EA updates the NBL to become the LBL, and a new NBL is created based on the latest price breakout
This EA has six parameters that you can adjust to enhance its efficiency and adapt it to current market conditions:
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point_between_top_and_bottom_trade_at_least: This sets the minimum point range required between the NTL and NBL, helping to filter out noise or fake top and bottom frames.
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point_collected_per_trade_at_least: This defines the minimum point range per trade.
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point_before_created_last_break_line: This sets the minimum point range needed to create the LBL or LTL after the price breaks over the current frame, aimed at filtering out false breakouts.
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point_max_before_use_RR: This is the maximum point range before the EA applies the Risk-Reward (RR) ratio. If the points in a trade exceed this parameter, the RR will automatically default to 1:1.
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Lots: The lot size per trade.
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RR: The risk-reward ratio per trade.
The stop-loss (SL) is automatically created based on the frame (NTL for the short side and NBL for the buy side), and the take-profit (TP) is also automatically generated, linked to the SL and the risk-reward (RR) parameters. Please do money management(MM) by following the parameter settings carefully, avoiding over-lotting and overtrading
Recommendations:
- Currency pair: USDJPY, XAUUSD
- Timeframe: M30 (For USDJPY), M5 (For XAUUSD)
- Minimum deposit: $1000
- Account type: Any (Free swap fees is preferred)
- Leverage: Any
Example for setting USD/JPY parameters and result:
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Minimum points between top and bottom trade: 533
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Minimum points collected per trade: 300
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Minimum points before creating the last break line: 220
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Maximum points before using RR: 2532
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Lot size: 0.06
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Risk-Reward ratio (RR): 2.5
Example for setting XAU/USD parameters and result:
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Minimum points between top and bottom trade: 1252
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Minimum points collected per trade: 458
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Minimum points before creating the last break line: 1095
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Maximum points before using RR: 100
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Lot size: 0.03
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Risk-Reward ratio (RR): 1.9
