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BreakLevels MT5

MetaTrader5 version of the Pender automatic scalper EA.

Trading is performed using pending orders based on breakout of price levels, where the price had slowed down during the recent time periods.

It always places StopLoss.

Trading can be performed either with fixed lot or with automatic money-management system.


Broker and deposit

Any 5-digit broker with low spreads and fast execution is suitable for trading.

Type of MetaTrader 5 trading account - "any".

Minimum recommended deposit is $100.


Currency pairs and timeframe

Trading on EURUSD, GBPUSD, USDJPY, USDCAD or on any currency pair with small spread is recommended.

The used timeframe is H1.

Terminal - MetaTrader 5.


Parameters

  • EAMagic - magic number of the EA, which allows it to distinguish its orders.
  • AutoLot - can be set to true or false. If true, the EA selects the lot size for trading depending on the balance value.
  • Lots - lot size is set by a user, if the value of AutoLot is false.
  • Risk - parameter for automatic lot calculation, if AutoLot value is true.
  • DD - the maximum allowable drawdown, reaching which closes all positions.
  • TrailingStop - trailing stop in points.
  • StopLoss - stop loss in points.
  • Delta - indent from important price level.
  • CommissionFor1Lot - broker commission for 1 lot, in the deposit currency. If your account does not have a commission, set to "0".
  • StartHour - trading start time;
  • EndHour - trading end time. All current pending orders are deleted;
  • SummerAdjustment - adjustment for daylight saving time.

Recommended settings are set by default.

By default, the StartHour and EndHour parameters are set for the terminal time zone GMT+2. If necessary, set these parameters according to the time zone of your terminal.

I will be happy to answer any questions you may have.

Have a successful trading.

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Versión 2.7 2018.10.17
Strategy of price levels detection was updated.
Versión 2.2 2018.09.22
New parameters were added.
Versión 2.1 2018.09.11
Adaptivity of TrailingStop to floating spread was added.