breakout strategy with prop firm helper functions
Info
The breakout strategy with prop firm helper functions is a Expert Advisor for MetaTrader 5 that hello all,this is an update of the "". in this code, i have added some helper functions for prop firm challenges.
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 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 breakout strategy with prop firm helper functions
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
hello all,this is an update of the "".
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: Gold London Breakout EA - another powerful expert for MetaTrader 5 traders.
hello all,
this is an update of the "". in this code, i have added some helper functions for prop firm challenges.
Also recommended: EA Money Management Strategy - similar expert with strong performance on MetaTrader 5.
generally, to pass a prop firm challenge, you need to satisfied three main criterias:target profit
not violating maximum daily loss
not violating maximum loss
in this code, i have included two functions check for "target profit" and "almost violating maximum daily loss" to automatically exit all positions and delete all pending orders. for "maximum loss" it really depends on your strategy and risk management so it won't be mentioned in this mql5 script.
the parameters we need to specify are:
i hope you find values in this script.
You may also like: MA and Envelope Breakout Strategy - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property version "1.00"
#include <Trade/Trade.mqh>
input string aa = "------------------SETTINGS----------------------";
input string BOT_NAME = "Breakout Strategy with Prop Firm Challenge Helper";
input int EXPERT_MAGIC = 1;
input string bb = "-------------------ENTRY------------------------";
input int ENTRY_PERIOD = 20;
input int ENTRY_SHIFT = 1;
input string cc = "--------------------EXIT------------------------";.......
⚠ 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.