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Breakout Envelopes MT5

The Expert Advisor identifies extreme overbought and oversold conditions in a market. Opening positions on extreme overbought conditions or extreme oversold conditions allows for getting the highest profit. If the starting position is in a loss, then the second or third position has the probability to gain big profit value. The built-in spread filter manages slippages and spread extension.

The EA does NOT use hedging, martingale, grid strategies, arbitration, etc.

The Expert Advisor works with Stop loss, The Larry Williams Percent Range indicator, The Envelopes indicator and Trailing Stop.

The Expert Advisor is optimized for trading on the GBPUSD, GBPJPY, EURJPY and USDJPY pair. The EA can also work on other currency pairs.


Advantages

  • Advanced Technology;
  • Good testing results with 99.9% of simulation quality.
  • No need to close the robot during news releases.
  • Money management system;
  • No martingale, no grid, no arbitrage;
  • The system can run with the brokers providing floating spread.
  • Easy to set up.


Recommendations

  • Needed 1:100 leverage as a minimum.
  • Platform: MT5;
  • Broker with fast execution.
  • VPS is recommended.
  • Five-digit accounts.


Parameters

  • TrailingStar - distance between open price and current price to start trailing.
  • TrailingStop - trailing stop.
  • TrailingStep - trailing step.
  • Stoploss - order stop loss.
  • Envelopes_Period - averaging period for calculation of the main line.
  • Envelopes_Deviation - percent deviation from the main line.
  • WPR_Period - averaging period for calculation.
  • Risk - ratio of Account Balance to trade with position sizing.
  • Magic - order magic number.
  • Slippage - permissible slippage.
  • MaxSpread - maximum value of the current spread.
  • Min_Margin_level - minimal account margin level in percentage for no transactions
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5 (1)
Go Here for MetaTrader 4 Version I'm a professional trader, and Algorithm developer.  For several years I have only used my algorithms privately, and made available only sometimes to a select small group of traders.  I will make my algorithms available for a limited time basis on the MQL store.  What we have here is a very specific algorithm tuned specifically to scalp the Gold Markets.   The default settings are for EURUSD as the MQL Store Validates against EURUSD.  With certain aggressive sett
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Version 1.70 2021.06.23
looping endlessly repair
Version 1.60 2021.04.16
Check 3x before open an order.
Version 1.50 2020.08.03
- Fixed a bug with the lot with position sizing .
Version 1.40 2020.06.09
transaction system improvements
Version 1.30 2020.03.17
system improvement