2 days breakout
Info
The 2 days breakout is a Expert Advisor for MetaTrader 4 that this ea compare last 2 days high and low values in order to find a breakout on the current day. it place a pending order on the high of yesterday (if h/l of yesterday is higher than h/l of the day before) or on the low of yesterday (if h/l of yesterday is lower than h/l of the day before).
Usage
This tool is typically used for breakout trading when price moves beyond key support/resistance levels.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use 2 days breakout
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
this ea compare last 2 days high and low values in order to find a breakout on the current day.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: multibreakout expert advisor - another powerful expert for MetaTrader 4 traders.
this ea compare last 2 days high and low values in order to find a breakout on the current day. it place a pending order on the high of yesterday (if h/l of yesterday is higher than h/l of the day before) or on the low of yesterday (if h/l of yesterday is lower than h/l of the day before).
Also recommended: eur usd breakout expert advisor - similar expert with strong performance on MetaTrader 4.
if order is not triggered on the end of day it will canceled.it works well only on currencies against jpy:
usdjpy, eurjpy, gbpjpy.
works with only open prices but i suggest to test it in control points mode or every tick and on
d1
timeframe because the trigger for the order (after successfull breakout condition) refers to ask/bid prices.
no parameters to be optimized: this is a clear sign of robustness of the system that, in every way, need to be optimized in order to get more smoothed equities.
i will be very happy if you can share with me some good ideas to improve performance of the system!
You may also like: breakout trading strategy: vr breakdown level - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.