MD Fake Breakout EA

Fake Breakout Retest EA is a counter-trend Expert Advisor for MetaTrader 4.

It finds breakouts that are likely to fail and trades against them, instead of following them.

How it works:

1. Neckline: a strong ATR impulse creates a swing high or swing low. That level becomes the neckline.
2. Breakout: price closes beyond the neckline for the number of confirm bars you set.
3. Retest: price returns to the neckline zone and prints a bounce candle.
4. Entry: the EA trades against the breakout.
   • A bullish breakout and retest opens a SELL.
   • A bearish breakout and retest opens a BUY.
     

Check our Gold Miner pro Manul system.

Features:

• ATR-based stop loss and take profit, set separately for each side
• Fixed lot, or auto lot based on risk % per trade
• Reversal exit that closes a trade on engulfing candles, three-bar reversals, EMA momentum flips, or consecutive reversal bars with an ATR move
• SMA trend filter and session filter (server time)
• Max open positions, slippage and magic number settings
• On-chart dashboard showing account, market bias, setup phase, neckline level, open positions and last signal
• Neckline boxes and BUY/SELL signal arrows with SL/TP labels
• Clean white chart theme, which can be switched off

Settings:

• Buy settings: control the bullish breakout setup, which opens SELL trades.
• Sell settings: control the bearish breakout setup, which opens BUY trades.
• Each side: swing length, impulse ATR multiplier, break confirm bars, retest zone, max retest bars, SL multiplier and TP multiplier.

Recommendations:

• The EA works on any symbol and timeframe. The screenshots show XAUUSD on M5.
• Test it in the Strategy Tester and on a demo account first.
• Use sensible risk, such as 1% or less per trade, and check spread and slippage on your broker.