USOpen Break Out MT4
- Experts
- Zhong Jie Wang
- Version: 1.0
- Activations: 5
Note: "Buy Stop" and "Sell Stop" are forex-related terms used to describe pending orders that are placed to buy or sell a currency pair at a price above or below the current market price, respectively. "Momentum" refers to the rate of change in a currency pair's price over time, and "range box" refers to a trading range or price level within which a currency pair has been moving for a period of time.
MT5 Version: https://www.mql5.com/en/market/product/95551
MT5 Free Signal：https://www.mql5.com/en/signals/1978730
Profit
When the price breaks through a key resistance level, it triggers a buy/sell order, allowing participation in the upward/downward trend, and enabling quick entry at the price breakout for the potential to achieve higher profits.
- When the first trade reaches a profit of half its position, trigger a trailing stop-loss, and set a breakeven stop loss for the second trade.
- When the second trade reaches a profit level, trigger a trailing stop-loss.
Currency pairs & Timeframes
This strategy is trained to learn the historical market trends of USD-related currency pairs, with the main applied currency pairs being USDJPY, USDCAD, and EURUSD. However, you can test and experiment with other USD-related currency pairs at any time.
The strategy mainly seeks momentum breakout opportunities for trading during the US market opening session, with the primary applied time frame being M1. You can use charts of any time frame for testing and experimentation.
System Setting
- Filter_TimeFrame : Time frame for calculating range momentum
- Open_Hour : Order placement time - hours (-1: Automatic calculation of US market opening time, automatic adjustment for daylight saving time)
- Open_Min : Order placement time - mins
- SR_Priod : Period for calculating range momentum
- serverTimeZone : GMT (Broker)
- Delete_Order_Min : If the order is overdue, delete the pending order a few minutes after the opening time
- SR_Shift (point) : Offset of the range high and low points
Trade Setting
- Default_Balance : Setting the initial capital for calculating lot size
- Set_Auto_Balance : Enable dynamic capital (account balance)
- Default_lot_Size : Setting order lot size
- Set_Auto_Lot_Size : Enable dynamic lot size (automatically convert order lot size based on available capital)
- Loss_Percent : Maximum loss ratio of capital (Ex: 0.01 => 1%)
- Limit_Balance : Capital limit (placing orders, account balance must be greater than this amount)
- Profit_Mutiple : Profit multiplier
- Trailing_Stop_Unit : Trailing stop distance
- Locked_Minimum_Profit : Setting the first order to activate break-even stop loss
