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Open London Market Breakout Strategy

This EA OLMBS (Open London Market Breakout Strategy) is based on a proved breakout strategy for the London session.

The strategy consists to trace a channel based on the last 4 candles in M15 chart just before the London opening (8:00 GMT) and then put a BuyStop at the top, or a SellStop at the bottom of the channel with meticulous Stop Loss and Take Profit (this one is based on a smart Risk/Reward). Some advanced features and filters give the ultimate edge for this EA, and in the long term it is very profitable with a contained DD. This EA will execute only one trade per day and it will be managed very well!

Here the general settings:

  • risk: risk in percentage based on the balance (for example, 1 means 1% risk).
  • compounding: improve the money management with the risk based on the compounding effect.
  • lots: option to open orders with a predefined lots, specified in the option lots. If is 0, this option is not used.
  • distSL: distance of the Stop Loss in Points.
  • RR: distance of the Take Profit target based between the distSL and the Risk-Reward Ratio.
  • numberCandlesEA: number of candles at M15 chart in order to calculate the channel.
  • StopProfitStrategy: number that define the Strategy of the Stop Loss management during the trade lifetime (leave the default number or put 0 to not use this option).
  • TrailingStopMovement: this option allows moving the SL dynamically (Point by Point) until it reaches the breakeven point. It is a Trailing Stop till breakeven Point.
  • partialRange and partialProfit: partial profits based on the distance of TP range (between 0 and 1) and the amount of partial profit (between 0 and 1). For instance, if partialRange is 0.3 and partialProfit is 0.333 that means when the price reaches 180 Point (distSL x RR x partialRange = 100 x 6 x 0.3 = 180) the EA closes one third of the position in profit (0.333 = 33% on the actual lots).
  • Time Daylight Savings: calculate automatically the daylight savings hour (last Sunday of March and October).
  • TimeGMTHourDelay: hour delay.
  • activateMoneyManagement: activate the money management based on the Anti-Martingale.
  • commentTrade: set the comment of the trade; leave blank for the default comment.

This EA runs on EURUSD M15.
The last version is 3.11 and was released on January 21st 2019

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Version 3.11 2019.01.21
- revision and improvement on the MQL4 source code
- fix some bugs about partial profits and ticket recognition
- fix bugs about lot size management
- auto-update about the daylight savings time !
- re-evaluation about EMA,RIS and MACD filters
- included an algorithm about Money Management system based on Anti-Martingale approach
- reviewing the Stop Loss and Take Profit distance (now the SL is fixed on 100 Point)
- activating option about partial profits in order to improve the performances and the DD