V1N1 LONY Breakout 5.10

[Vinicius Pereira De Oliveira]

Automated trading system for breakouts in the London and New York sessions, which considers trading ranges formed during the Asian sessions.

This EA can be optimized to work with EUR, GBP and USD pairs, on the M15, M30 and H1 timeframes.

- Recommended minimum deposit is 1000;

- This EA requires constant optimization. I suggest optimizing every 1 to 3 months, considering the historical data for at least the last 2 to 5 years, depending on the timeframe. It can be optimized using the Open Prices Only model (fastest method);

- Attached examples of setting files for some pairs and timeframes, and also examples of files for optimization.

Some Input Parameters

• Opening Of The London Session: enter in this parameter the time of your broker that corresponds to the opening of the London Session when it is not in daylight saving time (EA automatically detects DST changes);
• Switch To DST - Time Zone: enter in this parameter the time zone that your broker follows in daylight saving time changes. If you do not have this information, please contact your broker's support.

[marrieche2000]

hi Sr, I am new in this I wonder which file do I have to copy tu run  the EA in my MT4, I ask this because you have one file with extencion mq4 and others with  SET extension.

I would like to test your EA qith the pair GBP/USD,

thanks

[Vinicius Pereira De Oliveira]

marrieche2000:

You must copy / compile / run the .mq4 file. The .set files are the EA setting files.

See this article: https://www.mql5.com/en/articles/1385.

Other articles on this topic: https://www.mql5.com/en/articles/mt4/strategy_tester.

[marrieche2000]

Hi Vinicius, Thanks for the information, I installed the EA in my MT4 station successfully according to the message in the journal tab. I did  some some test in tester area and run ok.  

Question for you, this EA is only for backtesting or can be used for automated trading.  I  ask this because  the EA is installed but nothing happen, the only thing new in my MT4 screen is the EA name and a small smile face on the top right corner. The automated trading is on and I set up all the parameters according to the link  posted.

Could you pls clarify this for me, thanks in advance

Miguel

[Vinicius Pereira De Oliveira]

Miguel, the EA trades from the opening of the London session and opens on average 3-5 positions per month for each pair.

Note that the default setting is a example only. The EA must be optimized before it runs, or you can test the setting files that I have made available.

[marrieche2000]

Thanks, I will test to get more pratice with this,  Another question how the lot size is considere in the EA, Do you have the meaning of each imput parameter, let say what does  (Maximum Trading Range) mean, I apolozise for those simple question but I am new on this, thanks again,

Miguel

[Vinicius Pereira De Oliveira]

The lot size can be defined in 2 ways:

• Fixed lot;
• Percentage (in this case, the lot size is automatically calculated by the EA, according to the Stop Loss position for, in case of loss, the loss is as close as possible to the Risk defined by the trader).

Some input parameters:

• Trading Range - Bars: number of bars preceding the opening of the London session and which form the trading range considered by EA to breakouts;
• Minimum Bars Up / Down - %: minimum percentage of up and down bars that the trading range must have to be considered valid for the EA open positions;
• Minimum Range - Points: minimum price variation to trading range be considered valid for the EA open positions, in points;
• Maximum Range - Points: maximum price variation to trading range be considered valid for the EA open positions, in points;
• Minimum Break Range - Points: minimum level that the price must break after the limits of the trading range for the EA open positions, in points;
• Maximum Break Range - Points: maximum level that the price must break after the limits of the trading range for the EA open positions, in points.

[marrieche2000]

Hi Vinicius, Thanks for the information, I testing with your EA, and I have a question,  the EA works with the stop loss that we put in the input parameters or there is another automated criteria for the Stop loss,  I mean calculated for the EA itself,

Thanks in advance

[Vinicius Pereira De Oliveira]

marrieche2000:

The EA sets the Stop Loss from the opposite limit of the trading range, ie if you enter 0 (zero) in this input parameter, the EA will set the SL exactly at the opposite limit of the trading range.

[Charles Michael Wheeler]

Hi

thanks for the ea, looks good I had an issue I wanted to set it to trade off the range of a single 1h bar but when I set the trading range bars to 1 it came up with an error message saying it was invalid

Cheers

[Vinicius Pereira De Oliveira]

twiggers:

To test considering the range of only one bar you will need:

- Find in the code, event handler OnInit(), the condition "if (iTradeRange <= 1)";

- Change to "if (iTradeRange <= 0)";

- Compile the file;

- In the input parameter Minimum Bars Up / Down -%, enter 0.0 (zero).