Robust Range Breakout
- Experts
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Bernard Kimani Mugwe
Welcome! I am a dedicated MQL5/MQL4 programmer with 2+ years of experience, passionate about helping traders bring their ideas to life. I understand that a great trading tool starts with a clear vision, and I am here to help you build it, every step of the way. - Version: 1.0
- Activations: 10
The Robust Range Breakout EA is a powerful and fully automated trading tool for MetaTrader 5, designed to trade one of the most proven strategies in the market: session breakouts. This expert advisor precisely identifies the high and low of a specific time window and strategically places trades when the price breaks out of this range.
Built for serious traders, this EA avoids all dangerous strategies. It does not use grid, martingale, averaging down, or any other high-risk money management techniques. Each trade is executed with a calculated risk profile and a clear Stop Loss.
Strategy & Key Features
The EA's logic is straightforward, robust, and highly customizable:
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Define the Range: You specify a start time and duration. The EA monitors the market during this period and records the highest high and lowest low.
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Wait for the Breakout: Once the time range is over, the EA waits for the price to break decisively above the range's high (for a buy) or below the range's low (for a sell).
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Trade Management: Positions are managed with an intelligent Stop Loss and Take Profit system that adapts to market volatility, along with an optional trailing stop to secure profits.
Key Features:
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No Grid, No Martingale: 100% safe trading logic. The EA opens one trade per signal with a predefined Stop Loss.
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Automatic DST Adjustment: A powerful built-in feature automatically adjusts for New York Daylight Saving Time changes. You set your times once, and the EA handles the seasonal adjustments, preventing missed trades or off-schedule entries.
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Advanced Money Management: Three distinct lot sizing modes:
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Fixed Lot: Use a constant lot size for every trade.
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Fixed Money: Risk a specific dollar amount per trade (e.g., $50).
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Percent of Account: Risk a percentage of your account balance per trade (e.g., 2%).
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Adaptive SL & TP: Stop Loss and Take Profit are not set in fixed points. Instead, they are calculated as a percentage of the identified range's size, making the EA automatically adapt to volatile or quiet market days.
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Flexible Trade Triggers: Choose between two modes for trade entry:
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Candle Close: A more conservative entry, waiting for a candle to close outside the range.
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Immediate Breakout: A more aggressive entry, trading the instant the price touches the range high or low.
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Powerful Filters: Avoid unfavorable conditions with a Max Range Filter (to skip overly volatile days) and a full Day-of-the-Week Filter.
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Trailing Stop Loss: Secure your profits with a highly configurable trailing stop that can move your SL to breakeven and beyond.
Input Parameters
The EA gives you full control over every aspect of the strategy.
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InpMagicNumber : A unique number to identify the EA's trades.
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InpLotMode : Choose the lot sizing method: LOT_MODE_FIXED , LOT_MODE_MONEY , or LOT_MODE_PCT_ACCOUNT .
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InpLots : The value used for the selected lot mode (e.g., 0.01 lots, $50 risk, or 2% risk).
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InpStopLoss : Stop Loss as a percentage of the range size (e.g., 150 means 1.5x the range height).
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InpStoplossTrailing : Set to true to enable the trailing stop.
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InpTrailingStartPoints : Profit in points required to activate the trailing stop.
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InpTakeProfit : Take Profit as a percentage of the range size (e.g., 200 means 2x the range height).
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InpUseTakeProfit : Enable or disable the Take Profit function.
Range Inputs
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InpUseDSTAdjustment : Highly Recommended. Set to true to automatically adjust for NY Daylight Saving Time.
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InpRangeStart : The start time of the range in minutes from midnight (based on Nairobi time, UTC+3). (e.g., 990 for 16:30).
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InpRangeDuration : The duration of the range in minutes (e.g., 30).
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InpRangeClose : Time of day in minutes to close all open trades (-1 to disable).
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InpBreakoutMode : Choose ONE_SIGNAL (trades only the first breakout) or TWO_SIGNALS (allows trading in both directions if the first is stopped out).
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InpTradeTrigger : Choose CANDLE_CLOSE or IMMEDIATE_BREAKOUT .
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InpMaxRangePoints : The maximum allowed size of the range in points. If the range is larger, no trades will be taken (0 to disable).
Day of Week Filter
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InpMonday through InpFriday : Set to true or false to enable or disable trading on specific days.
Important Note on Time Settings 🕒
The default time settings in this EA (such as InpRangeStart ) are based on the UTC+3 timezone.
To achieve the intended results of the strategy, you must adjust the time inputs to align with your location time.
N/B: Backtesting was done on XAUUSD M5.
