Trading Robots for MetaTrader 5
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MetaTrader 5
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Overview
Introducing the USDJPY Morning Breakout EA. This Expert Advisor only trades during the morning (European time). This EA uses proven strategies and doesn't use high risk Grid, Hedge or Martingale recovery strategies. This EA shows that safe and reliable automated trading systems don't need to cost that much.
This carefully crafted Expert Advisor opens one position every day after a range has been set on the USDJPY currency pair.
Because it only opens one position with a stop loss and closes automatically at the end of the day (so you also avoid swap costs), it's a very safe EA.
After the breakout of the range a carefully optimized trailing stop will start after a certain amount of profit has been reached.
At 22:00 Server time the position will be closed which will then also avoid any swap costs for open positions during the night.
An integrated trend filter will increase the probability of opening the position in the right direction of the range breakout.
Backtest has been done with 0.1 lotsize on ICMarkets.
Prop Firm Ready
The LOW RISK settings of this EA are suitable for prop firm challenges.
Recommendations:
- Currency pair: USDJPY
- Timeframe: M5
- Minimum deposit : $500
- Account type: ECN, Raw or Razor with very low spreads
- It is important to use low spread accounts for best results
- Use VPS to keep EA running 24/7
- Leverage 1:30
Specifications:
- No Grid or Martingale system
- Every trade is protected with a Stop Loss
- Entry strategy incorporates a daily range breakout with a trend filter
- Exit strategy incorporates a trailing stop using ATR values
- Default settings are already fine for most brokers that use a GMT/UTC+2 with DST server time. If your broker has a different server time, time setting adjustments need to be done
