Break Out15
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Break Out15
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.
Description & Settings
Idea by
: .
MQL5 code by
: .
The EA only operates when a new bar appears on timeframe
Working timeframe
. Indicators are also taken from timeframe
Working timeframe
. The EA itself must only be used on timeframe
M1
!
As soon as a signal appears to open BUY or SELL, a price level will be defined. As soon as the price crosses this price level, a new position will be opened.
Signal to open BUY
: MA Fast on bar #0 > MA Slow on bar #0;
Signal to open SELL
: MA Fast on bar #0 < MA Slow on bar #0.
When defining a signal, the working time range is re-checked (if only
Start Hour
and
Stop Hour
are not equal to "-1").
Positions are closed by the opposite signal. If parameter
Friday Close Hour
is not equal to "-1", your positions will be closed forcedly at
Friday Close Hour
on Friday.
Inputs
Working timeframe
- timeframe to calculate the indicators;
Stop Loss
- stop loss ("0" disables the parameter);
Take Profit
- take profit ("0" disables the parameter);
Trailing Stop
- trailing ("0" disables the parameter);
Trailing Step
- trailing step.
Start Hour
- starting the time range (hours); "-1" disables BOTH parameters:
Start Hour
and
Stop Hour
;
Stop Hour
- ending the time range (hours), "-1" disables BOTH parameters:
Start Hour
and
Stop Hour
;
Friday Close Hour
- closing on Friday (hours), "-1" disables the parameter;
BreakOut Level
- break-out level;
Lots
- lot size is constant, parameter
Risk
having to be equal to "0";
Risk
- lot size is dynamic, in risk percents per trade, parameter
Lots
having to be equal to "0";
magic number
- unique identifier for the EA.
