Discussing the article: "Automating Trading Strategies in MQL5 (Part 16): Midnight Range Breakout with Break of Structure (BoS) Price Action"
Przeczytaj nowy artykuł: Automatyzacja strategii w MQL5 (część 16): Przełamanie o szerokości z przełamaniem struktury (BoS) – akcja cenowa .
Autor: Allan Munene Mutiiria
SUPER !-> OK
Hi Allan.
I'm going to download your system and begin testing. Interestingly the strategy testers report does not identify either the trading pair nor the time frame. As you illustrated the AUUSD M15, I am assuming it is what you used and I will begin testing with. Do you have any feeling for using other pairs or time frames. I suspect that this ea may work better on Asian trading pairs, am I correct?
Cheers, CapeCoddah
The testing was a bust. I tried AUDUSD, AUDJPY, & USDJPY and all produced losses with the Sharpe Ratios of -3.00 to -5.00. All except USDJPY went negative immediately and never recovered. USDJPY had 2 periods of positive gains but eventually turned negative and never returned.
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Check out the new article: Automating Trading Strategies in MQL5 (Part 16): Midnight Range Breakout with Break of Structure (BoS) Price Action.
In this article, we automate the Midnight Range Breakout with Break of Structure strategy in MQL5, detailing code for breakout detection and trade execution. We define precise risk parameters for entries, stops, and profits. Backtesting and optimization are included for practical trading.
The Midnight Range Breakout with Break of Structure strategy capitalizes on the low-volatility price range formed between midnight and 6 AM, using the highest and lowest prices as breakout levels, while requiring Break of Structure confirmation to validate trade signals. Break of Structure identifies trend shifts by detecting when the price surpasses a swing high (bullish) or falls below a swing low (bearish), filtering out false breakouts and aligning trades with market momentum. This approach suits markets during session transitions, such as London’s opening, or any other of your liking. Still, it requires timezone alignment and caution during high-impact news events to avoid whipsaws.
Our implementation plan will involve creating an MQL5 Expert Advisor to automate the strategy by calculating the midnight to 6 AM range, monitoring for breakouts within a set time window, and confirming them with Break of Structure on a specified timeframe, usually 5, 10, or 15 minutes, so we will have this in input so the user can choose dynamically. The system will execute trades with stop-loss and take-profit levels derived from the range, visualize key levels on the chart for clarity, and ensure robust risk management to maintain consistent performance across market conditions.
Author: Allan Munene Mutiiria