breakdown
Info
The breakdown is a Expert Advisor for MetaTrader 5 that the ea works with pending buy stop and sell stop orders. at the start of the day, pending orders from the previous day are deleted.
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 breakdown
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
the ea works with pending buy stop and sell stop orders.
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: breakout trading strategy: vr breakdown level - another powerful expert for MetaTrader 5 traders.
the ea works with pending buy stop and sell stop orders. at the start of the day, pending orders from the previous day are deleted. new buy stop and sell stop orders are placed at
Also recommended: breakdown level day - similar expert with strong performance on MetaTrader 5.
minimum distanceabove high and below low.
if a pending order is triggered and the position becomes profitable, trailing is applied to it.
when any of pending orders is triggered, the remaining pending order is removed. this is done in : deal_entry_in (market entry) is searched for.
inputs
stop loss
- stop loss;
take profit
- take profit;
trailing stop
- trailing;
trailing step
- trailing step;
minimum distance
- minimum indent from high and low of the previous day;
risk in percent for a deal from a free margin
- risk per trade;
magic number
- unique ea identifier.
eurusd,m15:
You may also like: breakdown signaling - 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.