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Project 42

Breakout of the trend lines and significant price levels indicates the appearance of participants with distinct preference towards buying or selling on the market. At such moments, the breakout strategies generate a trade signal and help in entering the market in the direction of large volumes. And then a part of the new trend's profit can be certainly taken. These are the standard trading systems tested by trading on any instruments over dozens of years. The main idea – if the price has been in a range for a long time, then there will certainly be a moment of powerful market decision and a breakout in a certain direction is to take place.

Breakout trading systems are considered to be the simplest, but their efficiency usually does not exceed standard statistics. The accuracy of determining the support/resistance levels is of utmost importance for them, as well as the filtering of so-called "false" breakouts. In order to catch a moment of a valid breakout, it is necessary to see the actual trend clearly, and preferably - on multiple timeframes. This is why breakout strategies are especially profitable when working on instruments with medium volatility.

When there is a support level breakdown or a resistance level breakout, a strong movement impulse occurs in the direction of the breakthrough, which allows you to make profit from the powerful movements of the price with a small risk. Support and resistance levels are formed on any timeframes.

The EA operation algorithm is quite complex, as it evaluates all breakout factors and uses them as the basis for making decisions on opening the corresponding deals.


Requirements and Recommendations

  1. The EA has been optimized for EURUSD M30 and GBPUSD M30;
  2. It is recommended to use a low spread ECN broker and a VPS;
  3. Use only with 5-digit quotes.


Settings

  • Trade Buy/Sell - choose the trading direction;
  • Magic - trades ID;
  • Trade Comment - order comment;
  • Slippage - allowable slippage before an order triggers;
  • Take_Profit - take profit in points;
  • Stop_Loss - stop loss in points;
  • Stop trade - delete pending orders if a spread exceeds Maximum Spread;
  • Maximum Spread - maximum Spread allowed before pending order triggers;
  • Fixed Lot - fixed lot if Fixed Lot > 0;
  • Risk Money Management - risk-based MM if Fixed Lot = 0;
  • Choice Trailing Stop - select one of the two modifications:
    • Modification 1 - standard trailing;
    • Modification 2 - modified trailing;
  • Trailing_Stop - trailing stop (-1 - disabled, 0 - use stop loss);
  • Trailing_Step - trailing step, when the position is in profit;
  • Breakeven stop - if the price exceeds the value, a breakeven triggers (-1 - disabled);
  • Breakeven_Step - stop Loss is moved to breakeven using this value;
  • Protection_from_losses - forced position closure;
  • Use time - if true, the EA trades by time;
  • GMT_mode - GMT offset of the broker server time (0 - disabled);
  • Start time - operation start time (h:m);
  • Stop time - operation end time (h:m);
  • Trade Monday - if true, the EA is allowed to trade on Monday;
  • Trade Tuesday - if true, the EA is allowed to trade on Tuesday;
  • Trade Wednesday - if true, the EA is allowed to trade on Wednesday;
  • Trade Thursday - if true, the EA is allowed to trade on Thursday;
  • Trade Friday - if true, the EA is allowed to trade on Friday;
  • Stop Friday - operation end time on Friday (h:m);
  • GMT_mode - GMT offset of the broker server time (0 - disabled);
  • Stop Friday - operation end time on Friday (h:m).
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Version 1.61 - 2017.04.10
Changed and added new types of order modification.
Version 1.59 - 2017.02.14
Improved adaptive position closing function.
Version 1.57 - 2017.01.13
Improved the trailing stop function.
Fixed minor bugs.
Version 1.56 - 2016.12.28
Fixed the trading by time function.