Universal Breakout trader

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grandmaster1
148
grandmaster1  

Am making this suggestion because there are many breakout trading systems

doing well right and an ea such as this one will make it easier to trade breakouts by letting the ea set the pending orders while you may also manually cross-check the orders when the ea places them

The EA is a universal breakout EA which can be applied to any breakout with the following parameters

start time based on broker time

end time based in broker time

Entry buffer

TP1, TP2, TP3, TP4,

if there is only one TP then TP 1-4 can be set to the same value

SL is opposite order YES/NO if yes the SL is set to the opposite side of the tunnel

SL if the above is NO the SL value is set here by pips

OPTIONAL

MTF ATR to set the Timeframe of ATR

ATR TP for those who want to use ATR as the TP

Any other universally useful parameters

Tarpan
656
Tarpan  

Good idea, but...

How EA will manage to recognize different kind of breakouts?...There are breakouts based on trendlines, candles, levels, etc.... mmm... Maybe placing it manually drawing lines and letting EA recognize those lines?... dunow.

Elaborate, please ?

xx3xxx
1754
xx3xxx  

but those 3 to 10 min sudden breakout , then the trend move in --- towards another direction for the next few hours, how do you capture the profit or prevent yourself end up in losing-- for big time

Limstylz
198
Limstylz  

igm is referring to time breakouts

fxnewbie:
Good idea, but...

How EA will manage to recognize different kind of breakouts?...There are breakouts based on trendlines, candles, levels, etc.... mmm... Maybe placing it manually drawing lines and letting EA recognize those lines?... dunow.

Elaborate, please ?

From the description, it appears that internetgrandmaster is basing the breakouts on the highest and lowest points within a certain time period. e.g. the London ORB or Asian session. Having looked at the EA, it confirms this.

I think there needs to be more to these types of EA's as the conditions for entry do NOT take into account price action. That being said, if you were to babysit the EA then you would have the fear of 'pulling the trigger' eliminated and trade management only becomes your priority.

grandmaster1
148
grandmaster1  

i want to apologise for not making myself very clear

this EA is not meant to be a trading strategy by itself

but meant to be a general tool for trading TIME BASED

breakout systems.

these are systems that take advantage of asian open and close

such as asian breakout systems

london breakout systems etc you should understand what i mean now

so what am suggesting is an EA that can place this pending orders on

your behalf in order to eliminate or reduce indiscipline , fear , forgetfulness and speedy price movement

can anyone help in coding the EA ?

fxsydney
19
fxsydney  

hi

i can not see any EA?

thx

grandmaster1
148
grandmaster1  

sorry if you misunderstood me

i dont have the EA , i need somebody to code it

is anybody willing to create this EA

The EA is meant to be a general EA to trade time -based breakout systems

like the hans 123 trading system

( this is just an example as Hans 123 already has an EA)

grandmaster1
148
grandmaster1  

please can someone help me code a breakout EA as follows?

The EA is a universal breakout EA which can be applied to any breakout

system with the following parameters

start time (based on broker time)

end time (based on broker time)

NB start time and end time must include minute(not only hour)

buffer = ( the no of pips to add to the high and the number of pips to

subtract from the low )

add spread to buffer yes/no

SL 1 type= -% of ATR ( eg user can set sl as 50% of ATR

SL 2 type= opposite side of the tunnel

SL 3 type= particular number ( eg 50 pips)

SL type= ( here user determines which SL type he wants to use by

inputting 1, 2 or 3)

TP type1= -% of ATR ( e.g 25% of ATR

TP type2= opposite side of tunnel

TP type3= particular number e.g 20

TP type= 1,2 or 3( Here user determines which TP type he wants to use by

inputting 1, 2 or 3

Target 1= 20 ( this is the TP value for users using TP type3)

Target 2= 40 ( this is the 2nd TP value for users using TP type 3)

user can set the Target 1 and 2 to the same value if he wants only one target

Target 1 and 2 will be used if the TP type3 is true

please willing helpers should either send me a PM or reply through this thread

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