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Range Breakout Day Trader

Introducing the Range Breakout Day Trader. This Expert Advisor only trades during the day (European time) with a target of around 1 to 6% per day. This EA uses proven strategies and doesn't use high risk Grid, Hedge or Martingale recovery strategies. This EA shows that reliable and profitable automated trading systems don't need to cost that much.

Introduction price of only 129.00 USD ! 

Prop Firm Ready

Live Signal (low risk):  Click here 

Live Signal (medium risk): Click here 

Live Signal (high risk):  Click here 

This carefully crafted Expert Advisor opens one position every day after a range has been set between 1:00 and 6:50 AM (GMT+2) on the USDJPY currency pair.

Because it only opens one position with a stop loss and closes automatically at the end of the day (so you  also avoid swap costs), it's a very safe EA. You can even set up an extra safeguard by setting up the maximum allowed equity drawdown.

After the breakout of the range (which will happen after 6:50 AM) a carefully optimized trailing stop will start after approximately 1% of profit has been reached.

Backtests of the USDJPY currency pair has shown that the best results are obtained when a profit percentage of approximately 6% is targeted for the day (with the medium risk settings). After the 6% the price tends to reverse.

At 19:55 PM the position will be closed which will result in a profit between 1 to 6% if the range has been opened in the right direction of the trend.

An integrated trend filter will increase the probability of opening the position in the right direction of the range breakout.

There will be also situations that the profit can increase further than 6%. For those situations the EA has a build-in alert option (by notification or email) to send a warning if the price reaches the take profit of 6% early, so that you can temporarily switch of the take profit level and let the profits increase further. This can be done in situations when for example the profit already increases quickly after opening a position and trend indicators on a higher time frame show that the trend will probably continue.

If done right the profits can get even more than what this EA already can achieve with the default settings. But be aware that these situations where profits continue to rise beyond the 6% in one day don't happen a lot. And switching off the default settings of the EA and combining manual trading can involve extra risks.

Prop Firm Ready

The LOW RISK and EXTRA LOW RISK settings of this EA are suitable for prop firm challenges. Make sure that the max. equity drawdown percentage is lower than the daily allowed drawdown for the challenge. And importantly avoid days with news events like interest rate decisions, because the volatility during these news events cause slippage which can result in bigger equity drawdowns than what is set as maximum in the EA. Also it's recommended to start with the EXTRA LOW RISK settings and switch to the LOW RISK once the balance has grown enough.


Recommendations:

  • Currency pair: USDJPY
  • Timeframe: M5
  • Minimum deposit : $100
  • Account type: ECN, Raw or Razor with very low spreads
  • It is important to use low spread accounts for best results
  • Use VPS to keep EA running 24/7
  • Leverage 1:500 (if using high risk settings)
Specifications:
  • No Grid or Martingale system
  • Every trade is protected with a Stop Loss
  • Extra protection possible by setting up the max. equity drawdown
  • Entry strategy incorporates a daily range breakout with a trend filter
  • Exit strategy incorporates a trailing stop using ATR values
  • Option to choose risk based lot size or fixed lot size
  • Option to send notification/email alert at predefined profit percentage
  • Default settings are already fine for most brokers that use a GMT+2 with DST server time. If your broker has a different server time, time setting adjustments need to be done

PARAMETERS DESCRIPTION

Time settings:

  • Set start hour and minutes of the range
  • Set end hour and minutes of the range
  • Close position at predefined time  (on/off)
  • Set hour and minutes at which the position will be closed
  • Allowed trading days: turn on/off the days where trading is allowed by the EA

Trade settings:

  • Magic number: EA identification number
  • Maximum spread size: If the current spread is higher than the predefined spread size the position or order will not be opened
  • Lot mode: choose to set lot size according to the risk percentage or a fixed lot size
  • Risk percentage: The risk percentage at which the lot size will be calculated
  • Fixed lot size: The value of the lot size if a fixed lot size is set in the lot mode
  • Stop loss: Set the stop loss in points or if you fill in 0, it uses the range distance as your stop loss distance
  • Amount of points above/below the range to place pending orders
  • *Maximum equity drawdown (on/off)
  • Loss percentage (equity drawdown) at which the position will automatically be closed
  • Close at predefined take profit percentage: predefined profit percentage at which the position will automatically be closed (on/off)
  • Profit percentage at which a notification/email is send: predefined percentage at which the EA sends a notification or email
  • Set hour or minutes after which the notification/email will not be send
  • Send notification when predefined profit percentage is reached (on/off)
  • Send email when predefined profit percentage is reached (on/off)
Trailing stop settings:
  • Turn on trailing stop (on/off) 
  • Profit percentage at which the trailing stop starts
  • ATR multiplier: Value which will be multiplied with the ATR value (to set the trailing stop distance)
  • ATR period: The period used for calculating the ATR (average true range)
Trend filter settings:
  • Turn on trend filter (on/off) If turned on the trend filter will only place buy stop or sell stop orders in the direction of the trend
  • Time frame used for trend filter
  • Signal period used for trend filter
**News filter settings:
  • Turn on moderate impact news filter (on/off) If turned on the news filter will close any open position or pending order before the first release of moderate impact news
  • Turn on high impact news filter (on/off) If turned on the news filter will close any open position or pending order before the first release of high impact news
  • Amount of minutes to close before news release

*Note: If you use the maximum equity drawdown, it needs to be checked with the stop loss setting. If the percentage max. equity drawdown is too low, your positions might get closed before it reaches the stop loss order and might increase your losses.

**Note: If you want to use the news filter in back testing, you have to save the MT5 economic calendar as a CSV-file in the Common/Files directory for the time period you want to test. Here you can find the script for creating the CSV-file: MT5 Economic Calendar CSV exporter.


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Quantum Wizard is an advanced Expert Advisor for trading the S&P500 (US500), using an sophisticated grid system and advanced money management that's designed for peak performance . It has been in development for more than 2 years, with the latest update coming this year. You can now finally diversify your portfolio with indices trading. Quantum Wizard is very simple to install, it just needs to be installed on US500 with the default settings, on any timeframe. Live signal :   CLICK Quantum
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Profalgo Limited
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Gregory Hay
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Welcome to   GoldExcel EA , an effective trader for the XAUUSD pair (GOLD). Developed by our team to work in normal accounts, funded prop accounts and prop challenges! Does not use HFT! See all products here:   https://www.mql5.com/en/users/fxmanagedforexltd/seller Current Special PROMO: Get 1 EA for free (for 2 trade accounts) -> contact me after purchase  (either indexlord or goldenergy) Trading PERFORMANCE Accounts (over 6+ months verified live trading) Live $1K Start Now $18.5K (Risk Setup
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Lo Thi Mai Loan
5 (2)
Launch promo: SALE 50% OFF! Only a few copies left at $693! Next price: $993 Get 1 EA for free (for 2 trade accounts) -> contact me after purchase Live signal:  https://www.mql5.com/en/signals/2220190?source=Site+Profile+Seller Prop Signal:  https://www.mql5.com/en/signals/2223219?source=Site+Signals+Profile+From+Author MT4:  https://www.mql5.com/en/market/product/116012?source=Site+Market+Product+Page Passed Prop Challenge Trade History:  https://www.mql5.com/en/blogs/post/757093 FAQ:  https
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Antonio Simon Del Vecchio
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Introducing Scalper Deriv: Elevating Your Scalping Experience. Get 1 EA free (for 2 trading accounts) -> contact me after purchase. Setfiles and more   here Are you one of those traders who find their passion in scalping and want to make the most of your capital? Whether you have a balance of $20, $200, $2000, $20000, or even $200000 in your account, we have the perfect solution for you! Introducing Scalper Deriv , the Expert Advisor (EA) designed to enhance your trading strategy and capitali
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Thi Thu Ha Hoang
4.62 (21)
Have you ever wondered why most expert advisors are not effective in live trading, despite their perfect backtest performance? The most likely answer is   Over-fitting . Many EAs are created to ‘learn’ and adapt perfectly to the available historical data, but they fail to predict the future due to a lack of generalizability in the constructed model. Some developers simply don't know about the existence of over-fitting, or they know but don't have a way to prevent it. Others exploit it as a tool
Quantum Trade EA MT5
Bogdan Ion Puscasu
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Introducing   Quantum Trade EA , the groundbreaking MQL5 expert advisor that's transforming the way you trade the prestigious GBPUSD pair! Developed by a team of experienced traders with trading experience of over 13 years, Quantum Trade   EA is designed to propel your trading journey to new heights with its innovative and dynamic breakout zone strategy. IMPORTANT! After the purchase please send me a private message to receive the installation manual and the setup instructions. ***Buy Quan
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Guillaume Duportal
4.92 (38)
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Denis Kurnev
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AI NeuroX EA is an innovative trading advisor based on advanced artificial intelligence technologies, including neural networks and the Perplexity and GPT-4 platforms. This advisor has a unique ability to analyze and predict the dynamics of financial markets using deep learning and advanced algorithms. Thanks to the intuition that even the most experienced traders would envy, AI NeuroX EA is capable of developing unprecedented trading strategies, ensuring excellent performance. This advisor oper
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Introducing the Range Breakout Day Trader. This Expert Advisor only trades during the day (European time) with a target of around 1 to 6% per day (medium risk). This EA uses proven strategies and doesn't use high risk Grid, Hedge or Martingale recovery strategies. This EA shows that reliable and profitable automated trading systems don't need to cost that much. Introduction price of only  129.00 USD !   Prop Firm Ready Live Signal (low risk):     Click here   Live Signal (medium risk):   Click
This script exports the economic calendar from MT5 as a .csv-file into the common directory of the terminal (...\Terminal\Common\Files). The generated file news.csv is necessary for using the news filter in back testing the Range Breakout Day Trader EA. Input parameters: Country 1: First country from which the news will be exported Country 2: Second country from which the news will be exported Date from: Start date from which the calendar data will be exported Date to: End date to which the
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Version 1.7 2024.04.29
fixed SQL database request error
Version 1.6 2024.04.28
Improved speed of back testing using the news filter
Version 1.5 2024.04.27
Fixed issue
Version 1.4 2024.04.27
Trendfilter can be used now in back testing (first run the script "Economic Calendar CSV exporter" which is available on the product page).
Version 1.3 2024.04.16
Fixed issue with trendfilter indicator reference
Version 1.2 2024.04.15
Added news filter
Version 1.1 2024.04.02
Fixed issue for risked based lot size calculation.