Intraday Range Momentum
- Experts
- Version: 1.3
- Activations: 5
SHORT DESCRIPTION
An automated opening-range breakout EA with higher-timeframe trend confirmation, volatility filters and controlled risk management.
FULL DESCRIPTION
Intraday Range Momentum is an automated Expert Advisor for MetaTrader 5 designed to trade intraday breakouts after a configurable opening range.
The EA first records the highest and lowest prices during the selected range-building period. After the range is complete, it monitors closed candles for a confirmed breakout. An optional higher-timeframe EMA filter helps keep entries aligned with the broader market direction.
Trading logic
- Builds an intraday price range at a configurable broker-server time.
- Looks for a candle close above or below the range with an ATR-based breakout buffer.
- Uses an optional higher-timeframe EMA trend filter.
- Filters ranges that are too narrow or too wide relative to current ATR.
- Blocks entries when the spread is excessive relative to volatility.
- Allows long-only, short-only or two-way operation.
- Limits the number of new positions opened per day.
- Stops new entries when the configured daily loss limit is reached.
Risk and position management
- Automatic position sizing based on account equity and percentage risk.
- Optional fixed-lot operation.
- Stop Loss based on the opening-range width with an ATR minimum distance.
- Take Profit calculated from a configurable reward-to-risk ratio.
- Optional break-even management.
- Automatic position closure at the end of the trading session.
- Separate Magic Number for position and history tracking.
Visual information
The integrated chart panel displays the current operating status, signal state, opening-range size, number of daily entries and the realized result for the current trading day. Optional horizontal lines show the active range high and low directly on the chart.
Default configuration
- Entry timeframe: M5
- Trend timeframe: H1
- Opening-range start: 07:00 broker-server time
- Range duration: 60 minutes
- Trading window after the range: 300 minutes
- Trend filter: EMA 100
- Maximum entries per day: 1
- Risk per trade: 0.35 percent
- Reward-to-risk ratio: 1.50
- Break-even activation: 0.80R
The included EURUSD M15 preset is supplied as a starting configuration. Every broker uses different spreads, commissions, symbol specifications, price feeds and server times. Review all settings and test the EA in the Strategy Tester and on a demo account before considering live use.
Important information
- Session hours refer to the broker's server time.
- The EA manages only positions matching its symbol and Magic Number.
- Only one position per symbol and Magic Number is managed at a time.
- The EA does not use martingale or lot multiplication.
- No external DLL or WebRequest connection is required.
- Past test results do not guarantee future performance.
INPUT PARAMETERS
Signal
- Entry Timeframe: timeframe used to build the range and confirm breakouts.
- Trend Timeframe: timeframe used by the EMA trend filter.
- Range Start Hour / Minute: start of the opening range in broker-server time.
- Range Minutes: duration of the range-building period.
- Trade Window Minutes: time available for new entries after the range ends.
- Trend EMA: EMA period used for directional confirmation.
- Use Trend Filter: enables or disables EMA confirmation.
- Breakout ATR Buffer: additional ATR-based distance required beyond the range.
- Minimum / Maximum Range ATR: acceptable range size relative to ATR.
- Allow Long / Allow Short: enables each trade direction independently.
Risk
- Magic Number: identifier used by the EA.
- Risk Percent: equity percentage risked when automatic sizing is enabled.
- Fixed Lot: volume used when automatic risk sizing is disabled.
- Stop Range Multiple: opening-range multiplier used for Stop Loss distance.
- Reward Risk: Take Profit distance relative to initial risk.
- Use Break Even / Break Even At R: break-even controls.
- Maximum Trades Per Day: daily entry limit.
- Maximum Spread ATR Percent: volatility-adjusted spread filter.
- Maximum Daily Loss Percent: daily loss threshold for blocking new entries.
- Deviation Points: maximum order-execution deviation.
Panel
- Show Panel: displays or hides the information panel.
- Show Range: displays or hides the range levels.
