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Project 42

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 classic 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 takes place.

The breakout trading systems are considered to be the simplest, but their successfulness is usually limited to 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 the 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 to make profit from the powerful movements of the price with a small risk. The 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 Expert Advisor has been optimized for the pairs/timeframe EURUSD M30, GBPUSD M30.
  2. It is recommended to use a ECN-broker with low spread and VPS.
  3. Use only 5-digit accounts.


Settings

  • Trade Buy/Sell — Selection of the trading direction.
  • Magic — Identifier for trades.
  • Trade Comment — Comment to order.
  • Slippage — Allowed slippage before pending orders trigger.
  • Take_Profit — Take profit in points.
  • Stop_Loss — Stop loss in points.
  • Stop trade — Remove pending orders if spread exceeds the Maximum Spread.
  • Maximum Spread — Maximum Spread allowed before pending order triggers.
  • Fixed Lot — Fixed lot, if ( Fixed Lot > 0 ).
  • Risk Money Management — MM risk if ( Fixed Lot = 0 ).
  • Adaptive trading stop — Adaptive trailing.
  • Trailing_Stop — Trailing stop (-1 - disable, 0 - use SL).
  • Breakeven stop — If the price exceeds the value, breakeven triggers. (-1 - disable).
  • Breakeven_Step — Stop Loss is moved using this value to breakeven.
  • Protection_from_losses — Force close the positions.
  • 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).
  • Use time — If true trading will be performed by time.
  • GMT_mode — GMT offset of the broker server time; (0 - not used).
  • Start time — Operation start time (h:m).
  • Stop time — Operation end time (h:m).
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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.