Universal Breakout Trader
- Experts
- Version: 1.31
IMPORTANT
For MQL5 market validation purposes, there is a specific function included that is only meant for validation. Users must disable this function in order to properly run the EA on live, demo and backtesting.
Make sure to review the settings carefully and switch off the validation function once you download the EA.
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The Universal Breakout Trader is a simple yet effective expert designed for a wide range of assets, including stocks, indices, commodities, forex, and more. It employs a straightforward breakout strategy that identifies key high or low points across multiple sessions and places pending orders accordingly. Despite its simplicity, this approach has proven to be one of the most effective methods for capitalizing on market momentum for decades.
This EA is designed to work on any timeframe starting from H1—from intraday trading to weekly or daily setups. The strategy is based on three customizable trading sessions defined by the user, making it adaptable to different markets and trading styles. Whether you prefer short-term intraday trades or long-term setups, Universal Breakout Trader can be adjusted to fit your needs.
How the Strategy Works
The core of this strategy focuses on breakout points that occur across three sessions:
- Session 1 and Session 2 are defined by the user, and the EA looks for significant highs or lows during these periods.
- Session 3 serves as a retracement period, where the price moves back from its high or low point.
- The EA places a stop order at the breakout level of Session 2, ensuring you catch momentum trades as price breaks through significant levels.
This structure is basic yet powerful, designed for traders who understand that the most effective strategies often lie in simplicity. Users can set this up for weekly, daily, or even intraday trading depending on their preferences and market conditions.
Key Inputs and Customization Options
The Universal Breakout Trader offers a range of adjustable inputs, giving traders control over risk, trade management, session timings, and more:
Risk Management
- Risk (% of deposit): Set the risk per trade as a percentage of your total deposit. This allows you to adjust your exposure based on account size and trading strategy.
- Stop Loss (% of price): Define your stop loss as a percentage of the asset’s price.
- Target (multiple of SL): Set your profit target as a percentage of your stop loss, allowing for adjustable reward-to-risk ratios.
Order Control
- Only Buy: If you prefer to trade only long positions, this option limits the EA to buy orders. Perfect for those who want to replicate orders on options.
- Max Pending Orders: Control the number of maximum pending buy and sell orders, giving you flexibility over the volume of trades the EA can place.
End of Day Close
- Hour to Close: Define the specific time to close all open orders. Perfect for traders who prefer to exit positions at the end of each day to avoid overnight risk.
- Close Orders at EOD: Enable or disable automatic closing of all positions at the end of the trading day.
Expiration Control
- Expiration Days: Set an expiration period for pending orders in days, ensuring that orders don’t remain open indefinitely.
Session Settings
- Session 1, 2, 3 Start/Stop Times: Define the start and stop times of the three trading sessions. This is the core of the strategy, and by adjusting the session timings, traders can fine-tune the EA for different markets and assets. For example, you can align the sessions with major market opens, such as the London, New York, or Asian sessions, making it highly adaptable for global trading.
Check the First Comment
I will be sharing some preset configurations (sets) that I personally use for various markets and timeframes. To access these settings, please check the first comment where I will upload all relevant set files for you to download, test and implement.
Why Universal Breakout Trader?
- Multi-Asset Trading: The EA is capable of trading all major asset classes, from indices and commodities to forex pairs and even cryptocurrencies.
- Simplicity Meets Effectiveness: The breakout strategy is straightforward, making it accessible for traders of all levels, yet sophisticated enough to deliver strong performance across a wide variety of markets.
- Customizable for Any Market Condition: Whether you're an intraday trader or focused on long-term trends, this EA allows for complete customization of trading sessions, timeframes, and risk management.
- Automatic Order Management: With the ability to close positions at the end of each day or after a set number of days, the EA ensures you maintain control over your positions and avoid unnecessary risks.
With its flexible design and time-tested breakout strategy, Universal Breakout Trader offers an efficient way to trade multiple assets and timeframes while keeping risk in check. Adjust the parameters to fit your personal style, and let the EA do the heavy lifting for you—whether you trade weekly, daily, or intraday.
