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BreakOut Harvester MT5

This Expert Adviser follow the traditional way of technical analysis. It enters the trade when there is a price breakout from resistance or support levels, which are determined based on the selected indicator. This system offers money management, with Take Profit, Stop Loss and Trailing Stop. This system will not enter the position when the spread is higher than usual spread or user desired. This system is designed for the M5, M15 and H1 timeframe for XAUUSD, EURUSD, GBPUSD and USDJPY. But can be used with other currencies and other time frames.


Recommendations

  • Back-test the system first before make a purchase
  • Preferred to use with ECN account type with minimal spread (0.2-0.8 pips)
  • Able to run against high-impact news
  • Minimal latency VPS or Hosting server


Parameters

  • MoneyManagement – Select between auto lot calculate by maximum loss per trade or manual lot determine by user.
  • PositionSize - if MoneyManagement is auto lot, please specific the risk of maximum loss per trade as percentage. Else if MoneyManagement is manual lot, user can fill-in size as desired lot size.
  • TakeProfit – Distance to take profit in point.
  • StopLoss – Distance to stop loss in point.
  • TrailingStop – Distance to trailing the profit in point between highest/lowest market price and current stop loss.
  • Channels – Maximum Highest/Lowest price in the period to determine resistance and support.
  • RollBack – After it make new high or new low, it need to fall/rise in specific amount before placing new pending order
  • MaxSpread – Use to filter the spread for placing pending order, will delete pending if spread exceed the limit
  • Slippage – Maximum price can be slipped from pending price
  • MagicNumber – Use to determine the EA id
  • TimeFilter – If true, it will start trading base on StartHour and stop trading on StopHour
  • StartHour – Start trading hour base on terminal time
  • StopHour – Stop trading hour base on terminal time


Note

  • If you wish to increase stop loss, it will be less sensitivity but it generate less profit (if PositionSize does not increase)
  • Maximum risk is 20%
  • Minimum Take Profit, Stop Loss, Trailing Stop is at Broker Stop level
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