XAU Breakout MT5
- Experts
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Daniel Emanuel Hardenberg
I dislike the release of products that don't work so i will never spam a bunch of products. If i can think of it and it works then it will end up here and i am ready to share with you what i have created. - Version: 3.50
- Activations: 20
Welcome to XAU Breakout, a super simple trading solution for longevity with unlimited upscaling. generates 2 pending orders every working day, bank holidays are exceptions. so this is not a get rich quick scheme, but the bigger the capital the faster it goes. This has been in the making for almost a year now and upon discovering a lot of (potential) issues and risking my own capital i am ready to show it to the public.
Backtests are not shown as they have been very unreliable as a source of determining wether its good or not, instead i let my live signal speak for itself. If the time period is insufficient for you then wait.
I will be providing 2 set files, one with original 800 stop loss and one with a 310 stop loss. I will put a live signal that will show the winrate of the low stop loss set as that information is necessary to know for longevity.
What do you need?
Minumum capital: $100 / Cent account $10
Minimum Leverage: 1:30
For best outcome i recommend a low spread account (RAW, Ecn) and a good VPS.
FTMO Compatible, but i recommend a swing account because breakouts are unpredictable and could happen while news is active, resulting in a violation when using a normal FTMO account.
Setup:
1. Open MT5
2. Disabled automated trading
3. Load up the Expert Advisor
4. Allow modification of signals
5. press okay
It will now show a display, look at "market start time" it will state a certain time because default Offset is 4.
5. Open Market Watch (CTRL+M), at the top you will see the broker time.
6. Google "How many hours till 6 PM New York?"
7. Add it to your market watch time, time might be off a few minutes on MT5 so if thats true then you round up.
8.Remember that time
9. Shift Market Start till it matches the time you have remembered.
10. Remember the GMT Offset number
11. Load up a Set File or create your own setup
12. If offset differs from setfile then resave the adjusted setfile with the corrected offset number
13. Check if you have every setting set as you please
14. Enable automated trading
15. Enjoy.
NOTE: When setting up in the weekend then the market watch time will be frozen at rollover time so you simply add 1 hour and if a few minutes are off you round up and that will be your market start time.
Parameters:
Enable Auto Lot Size: Yes/No ------------------------------If Yes, fixed lot size will become 0.01 per equity of account divided by this value. so for example i have 200 dollars and set it to 100, divide 200 by 100 = 2. 2x 0.01 = 0.02 lot size. risk percentage = lot size x stop loss divided by equity of account x 100. If No it will be disabled and lot size will just be fixed.
Lot Size (Fixed) Or Equity Per 0.01 Lot (Auto) ----------Fixed lot size unless conditions change it.
Take Profit (0=disabled) ------------------------------------Take profit in pips
Stop Loss (0=disabled ---------------------------------------Stop loss in pips
Trailing Stop (0=disabled -----------------------------------Trailing stop distance in pips
Enable Instant Trailing Stop? -------------------------------Yes/No - if set to yes then the first trailing stop will be tick based and executes very fast, then after that it readjusts based on the trailing stop interval in seconds.
Trailing Stop Interval In Seconds --------------------------How many seconds do you want to wait to see if the trailing stop can be engaged to modify the stop loss? longer duration results in a loose stop less potentially less break even.
Distance from high/low in pips ---------------------------The edge distance, its the amount of pips away from the highest or lowest price of previous day, set it too close and it may be activated on an unfortunate time, i set a small marge of 10 pips.
Magic number for orders -----------------------------------The magic number.
GMT Offset For Market Start Time ------------------------Time offset for when pending orders should be place, most favourable when the market just opened.
Enable Automatic DST Handling (Likely unneeded) ---Will shift the GMT Ofsett 1 hour at the New York DST shift dates requiring you to make no adjustments to GMT Offset altough its not necessary as the broker does this already.
Enable The 2nd Chance Feature --------------------------Yes/No- When hitting a stop loss and price goes back x amount of time within previous daily range then another order can be generated if you enable this potentially getting some money back.
2nd Chance Duration Before Activation ------------------Dropdown menu for x amount of minutes or hours you want to wait inside previous daily range before it regenerates a new pending order.
Enable Greed (Continue 2nd Chance On TP) ------------Yes/No, if set to yes: When hitting TP and price goes back inside previous daily range for x amount of time it will still generate a pending order giving you a chance to win or lose again. if set to no then hitting TP will disable 2nd chance for the day.
Readjust TP/SL after An Order Triggers ------------------Yes/No - its recommended to turn this on especially on monday or big gap days as a pending order has preset stop loss and tp then gap can shift open price tremendously resulting in a bigger stop loss and maybe a small tp. So this will check if open price isnt were it should be (AKA Spread) and it will readjust your stop loss and take profit x amount of pips away from open price (whatever value you put in als TP/SL). When disabling this parameter it will just run with preset stop loss and take profit so if anything goes wrong when a trade is active you are still protected.
Ignore Stop loss? (2nd Chance Stays Activated) ---------Yes/No - when setting this to No, 2nd chance will be disabled upon losing, should you turn this on it will attempt to make a new pending order when you lose and stay x amount of time in previous daily range.
Max Out Lot Size (Split Orders Above Broker Max Lot)--Yes/No - for the big boys at approximately 500k-1 million you will run out of lot size on a single pending order, this will add the remaining lot size to your order resulting in more than 2 pending orders due to splitting the lots.
Update Summary.
-1.90: Removed gap detection and replace it with a 15 minute timer when price re-enters daily range . Buy stop or sell stop will not be generate when the day starts past previous daily range. Independent of direction.
-2.00: Was executing 2 sell trades at the same time. should be fixed right now. now it is only limited to 1 buy stop and 1 sell stop. unless i change conditions.
-2.10: Added a fix for 2nd chance were it would attempt a 2nd chance when tp was hit and that shouldnt be the case. added a parameter called "enable greed" that will allow 2nd chance to create a new order when tp is hit and reduce the 2nd chance logging.
-2.20: Now has an order check every tick so it wont miss orders upon losing connection, safety has been guaranteed
-2.30: Changed retry mechanism from a 30 second interval to a 2 second interval with the same duration of 2 minutes, altough it did not improve execution speed during market rollover. Market rollover execution speed is crucial for gap trading to ensure the best position, so for now im back to using 2.2 and will observe how well 2.3 works over a time period on a secondary account.
-2.40: Added a fix were retry mechanism ignored existing orders within its timeframe of 2 minutes resulting in double orders
-2.50: Changed market start retry mechanism to 6 second interval for the same duration of 2 minutes
-2.60: [Discarded] Added ReadjustTPSL parameter to recalculate TP/SL from actual fill price
-2.70: Added a parameter than can switch applying tp and sl after an order has been triggered. This is recommended for gap trading as original stop loss is too far away from open price and tp might be so close that profit is minimal or loss is huge.
-2.80: Added Ignore Stop loss. 2nd Chance triggers even on SL hit.
-2.90: Trailing stop's first application is instant; interval applies after.
-3.00: Added a 2nd change minute parameter so you can quickly adjust the time 2nd change regenerates an order if useful for you.
-3.10: The instant trailing stop is a now a toggle function as it was a bit too strict for me. Reapply TPSL parameter has changed to readjust TPSL and will now come with a pre-set tp and sl as if the setting was turned off for safety.
-3.20: Readjustment of TPSL will now be one time so it does not fight the trailing stop when it kicks in.
-3.30: Added a parameter that will add more orders once max lot size has been reached in order to keep upscaling your capital in a linear fashion.
-3.40: Fixed the readjustment of TPSL so that it would function in a more proper way.
-3.50: Instant Trailing Stop now snaps to breakeven (or a set profit) on first the first engagement.
I will continue to observe any issues i find and update them accordingly. Would you like to have a feature? You can shoot me a message.
