ProTrade Break and Retest and Fakeout Reversal EA
- Experts
- Version: 1.6
- Activations: 5
ProTrade Break & Retest / Fakeout Reversal EA Description
The ProTrade Break & Retest / Fakeout Reversal EA is an automated trading tool designed to capitalize on false breakouts and mean-reversion opportunities at key session highs and lows. It combines volume divergence analysis, momentum confirmation, and robust risk management to execute high-probability reversal trades.
Strategy Overview
This EA identifies when price breaks above session highs or below session lows but fails to sustain the move—a classic "fakeout" pattern. By confirming entries with volume divergence and momentum reversal signals, it executes trades in the opposite direction of the false breakout, targeting a return to the session range with favorable risk-reward ratios.
Key Features
Break & Retest Detection
- Configurable session lookback period to define key support/resistance levels
- Volume divergence filter identifies weakening momentum at breakout attempts
- Momentum indicator confirmation ensures entries align with reversal signals
- Optional aggressive mode bypasses filters for increased signal frequency
Risk Management & Safety
- Fixed Stop Loss and Take Profit inputs for consistent, tester-friendly execution
- Dynamic position sizing based on account balance and configurable risk percentage
- Minimum account balance validation prevents trading on underfunded accounts
- Market hours validation skips execution when the symbol is closed (prevents weekend errors)
- Optional trailing stop with configurable activation threshold and step size
- Daily trade limit and optional daily loss limit for controlled exposure
- Spread filter avoids entries during unfavorable market conditions
Visual Dashboard & Controls
- Real-time display of auto-trading status, daily P/L, trade count, equity, and risk metrics
- One-click toggle to pause/resume automated trading
- Manual "Close All" button for immediate position management
- Optional chart styling applies user preferences on load
Input Parameters
Strategy Parameters
- SessionLookback: Number of bars to scan for session highs/lows
- VolumeDivergenceThreshold/MinVolumeRatio: Configure volume-based entry filters
- MomentumPeriod: Period for momentum indicator confirmation
- ConfirmationCandles: Number of candles required to confirm retest patterns
- RequireMomentumConfirm: Enable/disable momentum confirmation requirement
- EnableAggressiveMode: Skip volume/momentum filters for more signals
- AllowIntraSessionBreakouts: Allow breakouts before session end
- EntryStopLossPips/EntryTakeProfitPips: Fixed SL/TP distances in pips
Risk Management
- TotalRiskPercent: Percentage of account equity to risk per trade
- EnableTrailingStop: Enable/disable trailing stop management
- TrailingStartPips/TrailingDistancePips: Trailing stop activation and step settings
- MinAccountBalance: Minimum account balance required to enable trading
- MaxTradesPerDay: Maximum number of trades allowed per day
- EnableMaxDailyLoss/MaxDailyLossPercent: Optional daily loss limit settings
- MaxSpreadPips: Maximum allowable spread for trade execution
Chart & Dashboard
- Full set of color and display options for chart appearance
- ShowDashboard: Enable/disable the on-chart status panel
- AutoApplyChartSettings: Apply visual preferences automatically on load
How It Works
- On each tick, the EA first verifies the market is open for trading using SymbolInfoSessionTrade() .
- It checks safety controls including minimum balance, daily trade limits, and optional daily loss limits.
- The EA scans for breakouts above session highs or below session lows using configurable lookback periods.
- Potential entries are validated through volume divergence analysis and momentum reversal confirmation.
- When all conditions are met, position size is calculated using margin-aware logic that respects account balance, risk parameters, and broker requirements.
- Orders are executed with fixed SL/TP levels and optional trailing stop management.
- The dashboard updates in real time to reflect current performance metrics and account status.
Recommended Usage
- Best suited for liquid forex pairs (EURUSD, GBPUSD, USDJPY) and major indices during active sessions.
- Use on H1 or H4 timeframes for optimal session level identification and noise reduction.
- Test thoroughly in the Strategy Tester with your broker's spread and execution conditions before live deployment.
- For conservative trading, keep EnableAggressiveMode disabled and require both volume and momentum confirmation.
- Adjust EntryStopLossPips based on the average volatility of your chosen instrument.
- Monitor daily trade count and equity drawdown to ensure alignment with your risk tolerance.
Support
For questions, feedback, or assistance, please use the Comments section on this product page or the MQL5 messaging system. The author monitors this channel for support requests and provides updates through the official product page.
Important Disclaimer
Trading in financial markets involves substantial risk of loss and is not suitable for every investor. Past performance of any trading system or methodology is not indicative of future results. This Expert Advisor is provided for educational and informational purposes only and does not constitute financial advice, a recommendation, or a guarantee of profitability. Users are solely responsible for their trading decisions and should test any tool thoroughly in a demo environment with realistic settings before considering live use. Never risk capital you cannot afford to lose.
