Range Breakout Master User Guide

Range Breakout Master Set Up Guide and User Manual

It is a comprehensive Expert Advisor built around the classical range breakout strategy. Its high versatility and large number of customizable inputs make it adaptable to virtually any breakout scenario across any instrument, which is why finding the right settings for your setup is essential to getting good results.

1. Load Set File
   
1. Use the ready-made set files for the specific symbol from the link below (adjust the time settings to match your timezone)
2. Find your own best settings through backtesting and optimization
   
   
2. Adjust Risk Management
1. Select the risk amount and calculation type that suits your trading the most
2. Adjust the maximum daily drawdown and its calculation type
   
   
3. Start Trading - your EA is now ready to go

Input parameters:

-----GENERAL SETTINGS-----

• Magic number – Unique ID number for this EA
• Show dashboard – Show the info panel on the chart
• Fast backtest mode – Process only the first tick of each M1 bar to speed up backtests
  
• Time shift – Shift all times by this many hours to match your timezone
• Comment – Text added to every trade opened by the EA

-----STRATEGY SETTINGS-----

• Trading mode –
• Breakout: trade in the direction of the range break
• Fakeout: trade against the break, expecting price to come back
• Entry method –
• Market execution: enter trades immediately when price reaches the range boundary
• Pending orders: place orders at the range boundaries in advance and let the market trigger them
• Trade both sides – Allow the EA to trade both up and down from the same range
• Entry only on breakout candle – Only enter on the candle that first breaks the range, not on later candles (When using entry filters)
• Entry offset – How many points past the range boundary price must reach before entering

-----TRADING TIMES-----

• Range starting hour – Hour when the range starts forming
• Range starting minute – Minute when the range starts forming
• Range ending hour – Hour when the range stops forming
• Range ending minute – Minute when the range stops forming
• Stop trading after specific time – Stop opening new trades (delete pending orders) after a set time
• Trading end hour – Hour to stop trading
• Trading end minute – Minute to stop trading
• Close all orders at specific time – Close all open trades and orders at a set time
• Close orders hour – Hour to close all trades
• Close orders minute – Minute to close all trades

-----STOP LOSS SETTINGS-----

• Stop loss type – 
• Fixed: exact number of points
• Percentage: based on current price
• Range based: based on how big the range is
• ATR: based on recent market volatility
• None: no stop loss
• Fixed SL – Stop loss distance in points (fixed mode)
• Percentage based SL – Stop loss as a percentage of current price (percentage mode)
• Range based SL – Stop loss based on the size of the range; 1.0 means the full range size (range mode)
• ATR SL period – How many candles to use for the ATR stop loss calculation (ATR mode)
• ATR SL multiplier – How many times the ATR value to use as stop loss (ATR mode)
  

---Trailing stop loss settings---

• Use trailing SL – Move the stop loss automatically as the trade goes in your favor
• Trail SL type – Points: fixed number of points. Percent: percentage of price. SL factor: based on how big your original stop loss was
• Trail SL trigger – How many points of profit before the trailing stop turns on
• Trail SL step – How many points profit must improve before the stop moves again
• Trail SL distance – How many points behind price the stop loss stays
• Trail SL trigger percent – How much profit in percent before the trailing stop turns on
• Trail SL step percent – How much profit must improve in percent before the stop moves again
• Trail SL distance percent – How far behind price in percent the stop loss stays
• Trail SL trigger by SL factor – How much profit before trailing stop turns on, relative to your original stop loss size
• Trail SL step by SL factor – How much profit must improve before stop moves again, relative to your original stop loss size
• Trail SL distance by SL factor – How far behind price the stop stays, relative to your original stop loss size

---Breakeven stop loss settings---

• Use breakeven SL – Move stop loss to entry price once the trade is far enough in profit
• Breakeven SL type – 
• Points: fixed number of points
• Percent: percentage of price
• SL factor: based on your original stop loss size
• Point based BE trigger – How many points of profit before stop moves to breakeven
• Percent based BE trigger – How much profit in percent before stop moves to breakeven
• SL factor based BE trigger – How much profit relative to your original stop loss size before stop moves to breakeven

-----TAKE PROFIT SETTINGS-----

• Take profit type –
• Fixed: exact number of points
• Percentage: based on current price
• Risk-to-reward: based on your stop loss size
• None: no take profit
• Fixed TP – Take profit distance in points (fixed mode)
• Percentage based TP – Take profit as a percentage of current price (percentage mode)
• Risk-to-reward TP – Take profit set as a multiple of the stop loss size (RR mode)

-----RISK MANAGEMENT-----

• Lot size type – 
• Fixed: same lot size every trade
• Percentage: lot size based on a percentage of your account
• Money risk: lot size based on a fixed amount of money you are willing to lose
• Fixed lot size – Lot size used on every trade (fixed mode)
• Percentage lot size – How many percent of your account to risk per trade (percentage mode)
• Money risk – How much money to risk per trade (money risk mode)
• Max daily drawdown percentage – If your account drops this much in one day, all trades are closed and the EA stops until the next day. Use 0 to disable.
• Daily drawdown type – How the daily loss limit is measured
• Day-start balance: measured from balance at midnight
• Day-start equity: measured from the higher of balance or equity at midnight
• Equity trailing: same starting point as day-start equity, but the reference updates with every new equity high during the day

-----PLOTTING SETTINGS-----

• Range color – Color of the range box and lines on the chart
• Range color fill – Fill the range box with color
• Range line width – How thick the range lines are
• Range line style – Style of the range lines
• Close line color – Color of the line showing when all trades will be closed
• Close line width – How thick the close time line is
• Close line style – Style of the close time line
• Range in background – Draw the range box in the background behind the candles
  

-----FILTER SETTINGS-----
*Pending orders check filters when they are placed, not when they actually fill. To ensure your conditions are still valid at the moment of entry, it’s better to use market execution with entry filters.

---Day filter---
Disabling a day prevents new trades from opening. Any positions already open from an overnight session will continue to be managed normally.

• Trade on Monday – Allow the EA to open new trades on Monday
• Trade on Tuesday – Allow the EA to open new trades on Tuesday
• Trade on Wednesday – Allow the EA to open new trades on Wednesday
• Trade on Thursday – Allow the EA to open new trades on Thursday
• Trade on Friday – Allow the EA to open new trades on Friday 
• Trade on Saturday – Allow the EA to open new trades on Saturday
• Trade on Sunday – Allow the EA to open new trades on Sunday
  

---Range size filter---

• Use range filter – Only trade if the range is between a minimum and maximum size
• Range filter type – 
• Points: size in points
• Percent: size as a percentage of price
• Min point range – Smallest range size allowed in points
• Max point range – Biggest range size allowed in points
• Min percent range – Smallest range size allowed as a percentage of price
• Max percent range – Biggest range size allowed as a percentage of price

---RSI filter---

• Use RSI filter – Only trade if the RSI is in the right area
• RSI period – How many candles to use for RSI
• RSI timeframe – Which timeframe to use for RSI
• Only buy below RSI – Only allow buys if RSI is below this value
• Only sell above RSI – Only allow sells if RSI is above this value

---Moving average filter---

• Use MA filter – Only trade if price or MAs are in the right position
• MA filter type – 
• Single MA: only buy if price is above the MA, only sell if price is below it
• Dual MA: only buy if the fast MA is above the slow MA, only sell if it is below it
• MA mode – Type of moving average: EMA, SMA, SMMA, or LWMA
• Single MA period – How many candles to use for the single MA
• Slow MA period – How many candles to use for the slow MA
• Fast MA period – How many candles to use for the fast MA
• MA timeframe – Which timeframe to use for the MA

---ADX filter---

• Use ADX filter – Only trade if the trend strength is in the right range
• ADX period – How many candles to use for ADX
• ADX timeframe – Which timeframe to use for ADX
• ADX min value – Block trades if ADX is below this value
• ADX max value – Block trades if ADX is above this value

---MACD filter---

• Use MACD filter – Only trade if MACD conditions are met
• MACD filter type – 
• Baseline: MACD must be above/below zero
• Signal line: MACD must be above/below its signal line
• Both: both must be true at the same time
• MACD fast EMA period – Fast EMA period for MACD
• MACD slow EMA period – Slow EMA period for MACD
• MACD signal line period – Signal line period for MACD
• MACD timeframe – Which timeframe to use for MACD

---ATR filter---

• Use ATR filter – Only trade if volatility is in a normal range
• Fast ATR period – How many candles to use for the fast ATR
• Slow ATR period – How many candles to use for the slow ATR
• ATR timeframe – Which timeframe to use for ATR
• Minimal ATR ratio – Block trades if the fast ATR is below this ratio of the slow ATR
• Maximal ATR ratio – Block trades if the fast ATR is above this ratio of the slow ATR

---Stochastic filter---

• Use stochastic filter – Only trade if stochastic conditions are met
• Stochastic %K period – How many candles to use for the %K line
• Stochastic %D period – How many candles to smooth the %D line
• Stochastic slowing – Extra smoothing applied to the stochastic
• Stochastic timeframe – Which timeframe to use for stochastic
• Stochastic MA mode – MA type used inside the stochastic calculation
• Only buy below stochastic – Only allow buys if stochastic is below this value
• Only sell above stochastic – Only allow sells if stochastic is above this value

---Bollinger bands filter---

• Use bands filter – Only trade if price has moved outside the Bollinger Bands
• Bands period – How many candles to use for the Bollinger Bands
• Bands timeframe – Which timeframe to use for the Bollinger Bands

---ADR filter---

• Use ADR filter – Only trade if today's range is a reasonable portion of the average daily range
• ADR period – How many past days to use when calculating the average daily range
• Minimal ADR ratio – Block trades if today's range is below this ratio of the average daily range
• Maximal ADR ratio – Block trades if today's range is above this ratio of the average daily range