AW BREAKOUT CATCHER EA INSTRUCTIONS AND DESCRIPTION TO THE ADVISOR.
AW Breakout Catcher EA - an Expert Advisor that trades by indicator signals AW Breakout Catcher. The advisor works by strategy breakout of dynamic support and resistance levels. Orders have a fixed StopLoss and TakeProfit. Optionally, it can use averaging. Has the ability to work on a selected period of time and three types of notifications.
Attention! Indicator elements are visible only if the indicator is running. Because AW Breakout Catcher EA it is an advisor and not an indicator, then the product does not display indicator marks. If you want to see the indicator marks, then you need to launch the indicator in the window at the same time as the Expert Advisor. The Expert Advisor uses trading functions and refers to the indicator built into the Expert Advisor when receiving data for trading, however, the Expert Advisor does not display the indicator data.
"AW Breakout Catcher" indicator:
MT4 version
👉 https://www.mql5.com/en/market/product/25582
MT5 version
👉 https://www.mql5.com/en/market/product/28263
1 Success rating
A buy signal was received with a signal success rate of more than or equal to 70%. If the indicator is less than you specify, the advisor will not open an order. (You can specify any percentage of the rating for opening orders, however, we recommend using a percentage of at least 70 in order to avoid a large number of false signals).
The variable "Success Rate" is located in the input settings in the section "MAIN SETTINGS"
2 TakeProfit and StopLoss
This EA has different options for TakeProfit and StopLoss.
1) Setting up the TakeProfit strategy. You can choose your strategy from the ones below:
- Close position on TP1 - Close the entire position when TP1 is reached.
- Close position on TP2 - Close the entire position upon reaching TP2.
- Use TP in Points - Use a fixed TakeProfit for each order. If you select this option, you must specify the TakeProfit size in the "TakeProfit in Points (if used)" variable.
If you are not using a grid strategy, then the level TakeProfit calculated for each order separately from the opening price last order:
- When using "Use TP in Points", the TakeProfit size for each order will be the same, equal to the volume that you specify in the "TakeProfit in Points (if used)" variable.
- When using "Close position on TP1" or "Close position on TP2" the TakeProfit size for each order will change in accordance with the market volatility. TP1 and TP2 for each order will be visible on the "AW Trend Predictor" indicator panel (if connected) .
TakeProfit when using order baskets, the from the breakeven price of the entire basket, and not for each individual order:
- When using "Close position on TP1" or "Close position on TP2", then the TP level for the basket will be equal to the last signal.
- When using "Use TP in Points", the TakeProfit size for each basket of orders of the same direction (separately BUY separately SELL) will be the same, equal to the volume that you specify in the "TakeProfit in Points (if used)" variable.
- When using a grid strategy, virtual TakeProfit is used all order baskets from the breakeven price.
The variable "TakeProfit Mode" is located in the input settings in the section "STOP LOSS TAKE PROFIT SETTINGS"
2) Setting up the StopLoss strategy. You can choose your strategy from the ones below:
- Exit on opposite signal - Exit in case of a trend reversal or in case of an opposite signal.
- Use Fixed StopLoss - Use a fixed StopLoss for each order. When choosing this option, you must specify the size StopLoss in the "StopLoss in Points (if used)" variable.
- Use SL from Indicator - Use StopLoss based on the signals of the Trend Predictor indicator.
- Without StopLoss - Operation mode without use StopLoss.
- When using "Use SL from Indicator", then the size StopLoss will be equal to the one you specified when setting the "StopLoss target" variable in the "TREND PREDICTOR SETTINGS" section of the settings.
- When using "Use SL in Points" the size StopLoss for each order will be the same, equal to the volume that you specify in the "StopLoss in Points (if used)".
- When using "Exit on opposite signal", the entire position will be closed when the trend reverses.
The "StopLoss Mode" variable is located in the input settings in the "STOP LOSS TAKE PROFIT SETTINGS" section
3 Working with order baskets
- This product has the ability to open using a grid strategy.
In order to enable this feature, you need to set the "Use grids" variable to "True" mode; this variable is located in the input settings in the "GRIDS SETTINGS" section
- You can adjust the step between orders. The step is measured in points. This allows you to make your grid strategy more or less aggressive. The smaller the step, the more often the advisor's orders will be opened.
The "Step between orders" variable is located in the input settings in the "GRIDS SETTINGS" section.
- A basket of orders can be opened with orders of the same volume, and it is also possible to use a multiplier for orders in the grid.
If "Multiplier" = 1.00 do not use Martingale strategy. If "Multiplier" > 1.00, use the Martingale strategy, that is, increase the volume of each subsequent order in the basket.
Using a multiplier will increase the volume of each subsequent order by the coefficient that you specify in the input variables. This variable allows you to adjust the volumes of opened orders.
The "Multiplier" variable is located in the input settings under the "GRIDS SETTINGS" section.
- The EA has the ability to adjust the number of orders in the basket in one direction. You can set the maximum number of orders in the basket.
The variable "Orders Number Limit" located in the input settings in the "GRIDS SETTINGS"section.
Attention! If you work on highly volatile instruments, then do not set a small step and a large multiplier between orders in the grid, as this can lead to significant losses on your deposit.
4 Examples of signal settings for the AW Breakout Catcher indicator
Classic setting option:
- Range Filter = 1.0
- Amplitude = 5
- TakeProfits target - 1.0 - 1.5
- StopLoss Mode = SL at opposite signal
Scalping setup option:
- Range Filter = 1.5 - 2.0
- Amplitude = 5
- TakeProfits target - 1.5
- StopLoss Mode = Any Option
Daily setting option:
- Range Filtering = 1.0
- Amplitude = 10
- TakeProfits target - 2.0 - 2.5
- StopLoss Mode = Any Option
5 Features of setting the signals of the AW Breakout Catcher indicator
- Range Filtering and Amplitude
For different instruments it is necessary to use different "Range filtering" and "Amplitude" values. It depends on the volatility of the instrument used.
Variables "Range Filtering" and "Amplitude" located in the input settings under "BREAKOUT CATCHER SETTINGS"
The image below shows an example of a highly ranked graph. In this regard, this chart contains a large number of low-quality signals and, accordingly, a low signal success rating.
In order to improve the quality of signals, it is necessary to increase the value of the variable "Range filtering" and "Amplitude" .
The greater the value of the "Range filtering" variables and "Amplitude", the higher the accuracy of the signals, but their number is less.
However, the smaller the value of the "Range filtering" variables and "Amplitude" the greater the number of signals, but the lower the accuracy.
- TakeProfits target
Adjust the value of the variable in order to increase or decrease TakeProfit.
The smaller the value in the variable "TakeProfits target" the closer TakeProfit to the position opening price, the higher the value in this variable, the further TakeProfit from the opening price.
Variable "TakeProfits target" located in the input settings under "BREAKOUT CATCHER SETTINGS"
Buy an advisor right now:
MT4 version
👉 https://www.mql5.com/en/market/product/63457
MT5 version
👉 https://www.mql5.com/en/market/product/63462
6 Timed work
The EA has the ability to limit the working time. This means that new orders will be opened only in the time range you specified. If you work with baskets of orders, then the opening of new orders in the basket of the existing basket will be terminated if the period for work has expired.
During the pause, the EA will only close the current open positions. Closing will be carried out according to the TakeProfit and StopLoss settings you specified.
The setting of work by time is carried out in the input setting in the section "WORKING TIME SETTINGS"
7 Advisor Panels
The advisor panels consist of three parts:
1) Main Panel - Located at the bottom left of the screen. This arrangement is most convenient if you have the "AW Breakout Catcher" indicator, since the indicator panel will be located above the advisor panel.
- On the top right side of this panel, there is a button to minimize the panel. By clicking on it, you will minimize the panel as shown in the image above.
- The top part of the panel displays data on the last breakdown of resistance or support.
- Also, this panel contains information about current positions, swaps, spread and drawdown in percent.
- At the bottom there are buttons for closing Sell and Buy orders. Their work is shown in the image above.
- If trading is not allowed or the markets are closed, the panel frame will turn red and the inscription "Trades are not allowed" will appear at the bottom.
2) In the upper right corner of the screen, information about the current balance and equity is displayed. When testing the product, this section will also display information about the starting balance.
3) In the lower right corner of the screen, there is a panel for opening additional orders. When opening orders using this panel, the magic number of these orders will be the same as the orders of the advisor. That is, orders opened by this panel will be perceived as their own. On this panel, you can adjust the volume of these orders.
In order for the advisor to work with your manual orders, change the magic number to 0.
List of input settings with comments
MAIN SETTINGS - the main settings of the advisor
- Success Rate - The success rate for opening an order. If the indicator is less than you specify, the advisor will not open an order.
- Order lots - Order volume to open.
- Enable Autolot calculation - Use automatic lot calculation. This function allows you to save the risk settings when changing the deposit.
- Autolot deposit per 0.01 lots - The amount of the deposit for every 0.01 when using an autolot.
STOP LOSS TAKE PROFIT SETTINGS
- TakeProfit Mode - Select a take profit strategy:
- Close position on TP1 - Close the entire position when TP1 is reached.
- Close position on TP2 - Close the entire position when TP2 is reached.
- Use TP in Points - Use a fixed TakeProfit for each order.
- TakeProfit in Points (if used) - Fixed StopLoss for each individual order.
- StopLoss Mode - Select a StopLoss strategy.
- Exit on opposite signal - Exit in case of a trend reversal or in case of an opposite signal.
- Use Fixed StopLoss - Use a fixed StopLoss for each order.
- Use SL from Indicator - Use StopLoss based on indicator signals Breakout Catcher .
- Without StopLoss - Mode of operation without use StopLoss.
- StopLoss in Points (if used) - Fixed StopLoss for each individual order.
GRIDS SETTINGS
- Use grids - Use the opening of order baskets.
- Step between orders - A variable that regulates the step between orders, measured in points.
- Multiplier - Multiplier for orders. Each subsequent order opened by the Expert Advisor in the order grid will be larger than the previous one by this coefficient.
- Orders Number Limit - The maximum number of orders of one direction in the basket.
BREAKOUT CATCHER SETTINGS
- Range filtering - Coefficient for filtering market ranges . The more, the less the sensitivity of the indicator signals.
- Value 1.0 - For classic day trading.
- Value 1.5 - 2.0 - For more aggressive scalping trading.
- Amplitude - The number of bars used to calculate the algorithm , the more, the less sensitivity of the indicator signals. The more, the less the sensitivity of the indicator signals, the less, the greater the sensitivity of the indicator signals.
- Values 4 - 9 - For scalping.
- Values 10-15 - For a more classic one. day trading.
- TakeProfits target - Coefficient for goals TakeProfit 1 and TakeProfit 2 . The higher the multiplier, the more profit from one trade, but the lower the percentage of signal success.
- The higher the value, the greater the profit from the trade, but the lower the percentage of signal success
- The lower the value, the lower the profit from the trade, but the higher the percentage of signal success
- Value 2.0 - 2.5 - For classic day trading.
- Value 1.5 - For more aggressive scalping trading.
- StopLoss Mode - Variable defining strategy StopLoss .
- Dynamic StopLoss - The smaller the value in the variable, the closer StopLoss to the position opening price, the higher the value in this variable, the further StopLoss from the opening price. You need to set a value in a variable "StopLoss target"
- SL at opposite signal - StopLoss with a trend reversal or with an opposite signal.
- StopLoss target - Multiplier for StopLoss. The higher the value of the variable, the further from the opening price will be located StopLoss .
- Maximum bars - The number of bars for calculating statistics.
- Work on Time - Enable or disable work on time.
- Start Time - The start time of the advisor, used if timed work is enabled.
- End Time - The time at which the Expert Advisor ends, used if timed work is enabled. After the completion of the work, new orders will not be opened, but closing will continue to be performed in accordance with the SL and TP settings.
NOTIFICATIONS SETTINGS
- Send push notifications when close orders - Allow sending notifications to the mobile version of the terminal. Emails are sent when orders are closed.
- Send mails when close orders - Allow sending letters to the user's email address. Emails are sent when orders are closed.
- Send alerts when close orders - Allow sending pop-up notifications on the user's terminal. Alerts are sent when orders are closed.
ADVISOR SETTINGS
- Orders Magic number - The main identifier of the advisor's orders. Used primarily to identify orders.
- Comments for orders - Commentary on orders of the advisor.
- Slippage Limit - Maximum allowable slippage in points.
- Spread Limit - The maximum allowable spread for opening orders.
- Maximum size of orders - The maximum volume of all open orders.
- Allow to open OP_BUY orders - Allow sending orders of the OP_BUY type.
- Allow to open OP_SELL orders - Allow sending orders of the OP_SELL type.
- Allow to open new orders after close - Allow new orders to be sent after all orders are closed.
- Font size in panels - Change the font size in the panel.
- Show panel - Show or hide the advisor panel.
Buy an advisor right now:
MT4 version
👉 https://www.mql5.com/en/market/product/63457
MT5 version
👉 https://www.mql5.com/en/market/product/63462
AW Trading Software
Support: https://www.mql5.com/ru/users/nechaevrealle
