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  • Reviews (1)
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Candle Breakout EA

Candle Breakout EA is a trading tool for the traders who use the strategy of the breakout of previous candlesticks' high and low. The Expert Advisor opens a buy order, if the high of the previous candlestick has been broken, and it opens a sell order if its low has been broken. The EA also provides many other options for tuning it for your specific strategy.

Be sure to check the Comments section and test the trial set files for the Expert Advisor.

Adjustable Parameters

  • MaxSlippage/MaxSpread - the maximum allowable slippage/spread.
  • Money Management Type - lot calculation type. "Fixed-Lot" - a fixed lot, "LotSize_Per_Balance" - lot per balance amount, "RiskPerTrade" - risk percentage per trade.
  • Fixed Lot Size, LotSizeStep or Risk Per Trade - value of a fixed lot, lot per balance or risk per trade.
  • BalanceSizeStep - amount of balance per lot (only for the "LotSize_Per_Balance" function).
  • Trade Period - if True, the EA will trade only during the specified time interval.
  • StartTime/EndTime - start/end of the trading period.
  • Trade breakouts only that occurs inside trading period - if True, the EA opens orders only if a breakout happens within the trading period.
  • Days of the week - the days the EA is allowed to trade.
  • Use MA Filter - if True, the trades will be filtered using the MA indicator.
  • MA Period - period of the МА indicator.
  • If price above/bellow MA line, allow to open - the type of orders the EA is allowed to open when the price is above/below the MA line.
  • If the high/low is broken, open an - the type of the order to be opened after a high/low of a candle is broken.
  • CandleMin/MaxSizePips - the minimum/maximum allowed size of the previous candle.
  • Add pips - the number of additional pips required for the EA to open an order after a High or Low breakout.
  • Same type bars - the number of previous candlesticks of the same type (bearish or bullish) required for the EA to open an order.
  • Trade only confirmed breakouts - open an order only when the current candle closes above/below the high/low of the previous candle.
  • Max trades per day - the maximum allowed number of trades per day.
  • Max open orders - the maximum allowed number of open orders on one currency pair.
  • Take-profit/Stop-Loss Size Is Based On - the type of stop loss/take profit calculation. Fixed_Pips - fixed take profit/stop loss. Atr_Value - the value is calculated using the ATR indicator.
  • Take-Profit/Stop-Loss: Fixed Size or ATR Period - fixed value in pips for take profit/stop loss or a period value for the ATR indicator.
  • Take-Profit/Stop-Loss ATR Multiplier - multiplier for the value received from ATR.
  • Trailing-Start/Trailing-Stop/Trailing-Step/Breakeven: Fixed Size - value of trailing start/trailing stop/trailing step/breakeven
  • Close orders of the opposite breakout - if true, when the price breaks the High of the previous candle, the EA closes all orders opened at the last breakout of the previous candle's Low. Conversely, when the price breaks the Low, the EA closes all the orders opened at the breakdown of the High.
  • Close all orders on a new candle - if "True", then all orders opened by the EA are closed once a new bar opens.
  • Open an order only after a candle is closed - if True, the EA will open new orders only after the current bar closes.
  • When an order is opened/When a critical error occurs, send - send push or email notifications whenever an order is opened or an error occurred.

The description of the other parameters can be found in this blog.

Mujeeb Abdul
2017.10.27 23:39 

After long time nice update works excellent worth of buying

Version 3.11 - 2018.01.30
- Fixed a minor error.
Version 3.0 - 2018.01.23
- Added the new option "Risk Per Trade" for the money management settings.
- Added the "Days of the week" option.
Version 2.9 - 2018.01.12
- Added the moving average filter.
- A stop-loss/take-profit can be calculated using the "Average True Range" indicator.
- Now the "TradeConfirmeBreakouts" function works with the "AddPips" parameter.
Version 2.8 - 2018.01.08
- Improved the possible errors processing function.
- Added two push notification options: Send notification when a new order is opened and when a critical error occurs.
Version 2.7 - 2017.12.26
- New input: TradeBreaksOnlyInTradePeriod
Version 2.6 - 2017.11.17
- Added new parameters: CandleMinSizePips and CandleMaxSizePips
Version 2.5 - 2017.11.10
-Fixed the critical error, when trailing-stop wouldn't work on a buy order after activation of breakeven. It's highly recommended to install this update.
Version 2.4 - 2017.11.01
- Added a new function called "MaxTradesPerDay".
- Added a new function called "CloseOrdersOnOppositeBreakout".
Version 2.3 - 2017.10.25
- Fixed the error where the "OpenAtCloseCandle" function did not take "MaxOpenOrders" into account.
- New function "TradeConfirmedBreakouts". The EA will open an order only after the current candle closes above/bellow of the high/low of the previous candle.
Version 2.2 - 2017.10.16
- Many function blocks were completely rewritten.
- Added two parameters: "If the high is broken, open an","If the low is broken, open an".
- The EA now prints more useful information in the journal.
Version 2.1 - 2017.07.05
- Fixed the "Order Modify" error when stop loss is less than the stop level.
Version 2.0 - 2015.09.10
Updated to version 2.0

- Code is completely rewritten.
- Added the "Trailing Start" setting.
- Added the "TradeReverse" setting.
Version 1.3 - 2015.06.25
- Fixed some minor bugs
Version 1.2 - 2015.06.25
- Added a new parameter - "SameBarsAmount" (How many previous candles of one color are required by the EA to open a new order).
- Added a parameter for slippage control. If slippage will be higher than you allowed in the setting, then the EA will not open an order.
Version 1.1 - 2014.09.23
- Added "CloseOrder" setting.