2 Days Breakout
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. 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 2 Days Breakout
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
This EA compare last 2 days High and Low values in order to find a breakout on the current day. It place a pending order on the High of yesterday (if H/L of yesterday is higher than H/L of the day before) or on the Low of yesterday (if H/L of yesterday is lower than H/L of the day before).
If order is not triggered on the end of day it will canceled.
It works well only on currencies against JPY:
USDJPY, EURJPY, GBPJPY.
Works with only open prices but I suggest to test it in control points mode or every tick and on
D1
timeframe because the trigger for the order (after successfull breakout condition) refers to ASK/BID prices.
No parameters to be optimized: this is a clear sign of robustness of the system that, in every way, need to be optimized in order to get more smoothed equities.
I will be very happy if you can share with me some good ideas to improve performance of the system!
