Best Breakout MT5
- Experts
-
Alice Nampanya
TradelyLabs is a software company focused on developing professional Expert Advisors, indicators, and automation tools for MetaTrader 5 .
Our mission is simple: build transparent, reliable, and well engineered trading software that helps traders automate their strategies with confidence. - Version: 1.0
- Activations: 12
Best Breakout MT5 by TradelyLabs is an automated range-breakout Expert Advisor for MetaTrader 5. It measures a defined intraday price range, places breakout orders around its boundaries and manages the resulting position with a stop loss and a scheduled close. Its on-chart dashboard brings the range, position plan and strategy statistics together in one place.
HOW THE STRATEGY WORKS
1. The EA measures the highest high and lowest low of completed chart candles during the configured range window. By default this is 00:00 to 07:00 broker server time.
2. During the trading window, it places a Buy Stop at the range high and a Sell Stop at the range low, subject to the broker's order rules. If price is already beyond a boundary when the orders are prepared, the EA may enter at market instead.
3. After an entry, the EA attempts to cancel the opposite pending order. It is designed to take one entry per broker day. On startup, it can skip the current day if an earlier completed candle has already broken the range.
4. The position is protected by a percentage stop or the opposite range boundary. There is no take profit or trailing stop. Any remaining position is scheduled to close at the configured close hour, 20:00 by default.
RISK AND POSITION MANAGEMENT
Choose risk-based sizing or a fixed lot size. In risk mode, the EA estimates loss to the planned stop in account currency and calculates a position size based on the selected percentage of equity. The result is rounded down and subject to the maximum leverage setting, broker volume rules and available margin. Fixed lots are also subject to these limits.
The optional daily equity guard monitors account equity and attempts to close this EA's position and cancel its pending orders when the configured drawdown from the observed daily equity peak is reached. It is disabled by default. Account equity includes other activity on the account, and the observed peak resets when the EA is restarted. The guard is not a guarantee against exceeding a loss limit.
ON-CHART DASHBOARD
The dashboard displays the current range, trend relative to that range, trading status, open P&L and daily drawdown, together with a long/short position plan. Optional strategy statistics include trade counts, win rate, profit factor, payoff, expectancy, closed-trade drawdown and the last trade. An optional closed-P&L chart, range lines, entry and stop levels, trade markers and watermark are available. The panel can be moved and minimised. Statistics use the EA's matching symbol and magic-number deal history over the last 365 days; partial exits count separately and R values are estimates.
SUGGESTED SETUP
• Platform: MetaTrader 5.
• Chart: a standard 15-minute chart. The EA was designed around gold (XAUUSD); broker symbol names and contract specifications differ.
• Time: all session hours use the broker server clock. Adjust them to match the intended trading session and check daylight-saving changes.
• Use a broker and account that support the required pending orders, stop losses and position sizes. Check the broker's contract size, volume step, minimum stop distance, spread and margin requirements.
• Keep the terminal or a suitable VPS connected while the EA manages orders. If the broker does not support the specified order expiry, pending orders may be placed without that expiry and require the terminal to cancel them at the close hour.
• Test the settings in Strategy Tester and on a demo account with your broker before considering live use.
INPUT PARAMETERS
Main settings
• RangeStartHour: start of the range-building window, in broker server time. Default 0.
• RangeEndHour: end of the range and start of the trading window. Default 7.
• CloseHour: scheduled hour to close the position and cancel pending orders. Default 20.
• MagicNumber: identifier used to distinguish the EA's orders and positions.
• DeviationPoints: allowed price deviation for applicable trade requests, in broker points.
Risk management
• StopMode: percentage of entry or opposite range boundary.
• StopPercent: stop distance as a percentage of entry, when percentage mode is selected. Default 1%.
• SizeMode: risk percentage or fixed lots.
• RiskPercent: target percentage of equity used to estimate position size. Default 1%.
• FixedLots: requested volume when fixed lot mode is selected.
• MaxLeverage: maximum planned position notional relative to equity. Default 10.
• VolumeStepOverride: optional lot-size rounding step; 0 uses the broker's step.
• DailyEquityGuard: enables or disables the optional equity guard.
• MaxDailyDrawdownPercent: guard threshold from the observed daily equity peak.
Display and notifications
• ShowRange, ShowLevels and ShowTradeMarkers: control the range, position levels and trade markers.
• ShowDashboard, ShowStrategyMath, ShowPerformance and ShowWatermark: control the chart panels and watermark.
• PanelRightMargin, PanelTopMargin and PanelStartMinimized: set the dashboard's initial position and state.
• BullColor, BearColor and RangeColor: customise the main chart colours.
• PopupAlerts and PushNotifications: control MT5 alerts and mobile push notifications; push notifications require terminal configuration.
IMPORTANT EXECUTION INFORMATION
The opposite pending order is cancelled by the terminal after it receives an entry event; cancellation is not an atomic broker-side OCO. Fast markets, disconnection, rejected requests, spread, slippage and gaps can produce different fills or losses greater than the planned risk. Pending orders may be skipped if the requested volume or price does not meet broker requirements. The leverage estimate is based on symbol contract notional and may require particular care when account and quote currencies differ.
Trading involves risk, including the risk of losing capital. Historical or simulated results do not guarantee future performance. This product automates the rules described above and does not guarantee profitable trades or compliance with any prop firm's rules.
