Trading utilities for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
"Step Ahead" is the ultimate breakout expert advisor
The basic strategy is trading breakouts from a time range. It takes a start time and an end time as inputs. The EA sets breakout trades at the end of the ranges and manages the trades via breakeven and trailing stops mechanisms. The trades will be closed if SL or TP hits, and you can configure to close all open trades and orders at a specific time as part of the range settings.
The strategy requires an SL for each trade. It is not a risky strategy and doesn’t use martingale, grid, or averaging!
This expert advisor has many features that would certainly fit the needs of any trader trading breakout strategies. When running multiple instances of “Step Ahead” you can activate the daily drawdown check. This will allow the different instances of different symbols to communicate and stop trading if a maximum drawdown is reached. Ideal for prop firm accounts.
What do you need to run it?
The EA suits all levels of traders, beginners, intermediate, or experts.
You can run it on a small account of 500$ with a risk of 1% to 2% per trade. It can also work on a 100$ account but be aware that with a minimum standard volume 0.01, your risk is higher.
It can be used to trade any range breakout strategy. The major ones are:
- USDJPY breakout from Asian Range.
- EURUSD London Session opening breakout.
- US100 New York session opening breakout.
The default provided settings are optimized to trade USDJPY on the Asian Range breakout.
Once you purchase the EA, reach us to share with you the set files that we have optimized
The EA features
The EA is quite flexible with a large number of parameters. You can check the details on the following USER GUIDE
- Range Settings: It allows setting the range’s start, end, and close time. It also allows taking a buffer from the extremum using the current spread or a fixed value.
- Order closure: You can specify the expiry time and the possibility of deleting pending order if the opposite order is triggered.
- Order Size: You can choose a fixed lot size or a percentage to risk from your account balance.
- Take Profit: Take profit can be fixed in points or a percentage of the range. In addition, a partial take profit can be activated to scale up at a specified time.
- Stop Loss: Stop Loss can be fixed in points or a percentage of the range.
- Break Even: Break even is configurable and can be set in points or the percentage of the range, a buffer is available to cover the commission.
- Trailing Stop: Trigger and trailing are configurable and can be set in points or the percentage of the range.
- Volatility Filter: A volatility filter is introduced to prevent taking any trades based on ATR daily value
- Trend Filter: it allows you to force trading direction, trade with previous day momentum, or use a multi timeframe moving average for the direction
- Day Trading Filter: this feature allows you to limit trading during specific days during the week
- And finally, Daily Draw Down Control allows you to activate the drawdown monitoring on one or multiple instances of Step Ahead.
Please make sure you don't change inputs on the fly, better to remove and reload the EA if needed
