Time Range Breakout EA MT5
- Experts
- Version: 1.0
- Activations: 10
Time Range Breakout EA
**Key Features:**
1. ** High Low Price Range:** TRB records price ranges by measuring high and low prices within a user-defined time period(preferably first few opening hours), providing valuable insights into market volatility.
2 . **Maximum and Minimum Price Range Limit:** TRB allows users to se
t both maximum and minimum price range limits, preventing the EA from executing trades if the recorded price range does not meet the value set by the users. This feature helps avoid entering trades during excessive price momentum or over-tight price ranges, reducing the risk of facing price reversals and significant losses.
3 . **Breakout Strategy:** Once the price range is recorded, TRB identifies trading opportunities when the current price breaks through the recorded high and low prices, executing trades with precision.
4 . ** Daily Customizable Duration:** Users can set the duration of trades based on their preferences within a day from Monday-Friday , allowing flexibility and hassle-free for day traders. It is very suitable to be placed on VPS as long as the users wish.
5 . ** Adjustable TP & SL based on % of Price Range :** TRB incorporates robust risk management features, including stop-loss (SL) and take-profit (TP) levels, which are calculated as percentage of the recorded price range and can be adjusted by users.
<Settings>
<General Inputs>
InpMagicNumber: Users-defined magic number
InpLot Mode: Choose mode of lot sizes based on fixed lots, money per trade, or % of account per trade
fixed lots/fixed money/ account% : Input value for chosen mode
stop loss by % of the range : size of stop loss based on recorded price range
take profit by % of the range: size of take profit based on recorded price range
<Range Inputs>
Range Start Time by Minutes : Start time to calculate range
Range End Time by Minutes: End time to calculate range
Range Close Time by Minutes : Close time for all positions to close if sl and tp not reached.
<Filter Inputs>
Min Range Size to execute trades in points: Position will not be opened if recorded range is smaller than min range size.
Max Range Size to execute trades in points: Position will not be opened if recorded range is larger than max range size.
InpBreakoutMode :
One breakout per range - if breakout position open on buy order, EA will not open sell order even when price breaks lower range. Vice versa on sell order.
High and low breakout - Buy and sell order can open whenever current price breaks recorded price ranges.
* Remarks
This strategy is suitable for traders who prefer to trade by waiting price to consolidate after market opening hours. Historically the EA performs better with Japanese paris, such as USD/JPY, EU/JPY and GBP/JPY. For GBP/USD and EU/USD pairs, where volatility in terms of price range may vary a lot, the users are recommended to use min & max range size filter as well as selecting one breakout per trade for reducing noise.
