break out15
Info
The break out15 is a Expert Advisor for MetaTrader 5 that idea by:. mql5 code by:.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install 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.
What this tool does
idea by:.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - another powerful expert for MetaTrader 5 traders.
Also recommended: Gold London Breakout EA - similar expert with strong performance on MetaTrader 5.
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.
You may also like: MA and Envelope Breakout Strategy - excellent alternative for expert users on MetaTrader 5.
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.