London & New York Breakout EA for MT4/MT5
Info
The London & New York Breakout EA for MT4/MT5 is a Expert Advisor for MetaTrader 4 that automated trading system designed for breakout trading during the london and new york sessions. This EA also considers trading ranges established during the Sydney and Tokyo sessions.
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 London & New York Breakout EA for MT4/MT5
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
Automated trading system designed for breakout trading during the London and New York sessions.
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: basic check-up of experts for mq l4 - another powerful expert for MetaTrader 4 traders.
Automated trading system designed for breakout trading during the London and New York sessions. This EA also considers trading ranges established during the Sydney and Tokyo sessions. Default Settings: Symbol: GBPJPY Timeframe: H1 Input Parameters: Start of Trading Time: Enter the broker time that corresponds to the opening of the London session during standard time (non-daylight saving). The EA automatically detects and adjusts for daylight saving time changes. Daylight Saving Time Zone Switch: Select the time zone your broker observes for daylight saving time changes. Options include United States (USA), European countries, or no switch. If unsure, please contact your broker's support for this information.Also recommended: History Downloader - similar expert with strong performance on MetaTrader 4.
You may also like: Simultaneous Buy and Sell Trading Strategy - 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.