Daily Break Point
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Daily Break Point
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
Breakout of the daily bar at the distance of "Daily Break" points.
Input Parameters
Lots manual
- enable/disable manual setting of lot value;
Lots
- position volume (manual input);
Risk
- position volume as percent of free margin;
Stop Loss
Take Profit
Close by signal
- reversing position opening direction;
"Daily Break" Break point
- the size of the breakout;
"Daily Break" Last bar size min
- the minimum bar size;
"Daily Break" Last bar size max
- the maximum bar size;
"Daily Break" Trailing stop
- trailing value;
"Daily Break" Trailing step
- trailing step value.
The strategy works well on the H1 timeframe:
