Candle Breakout Straddle
- Experts
- Version: 1.11
- Activations: 5
Candle Breakout Straddle places two pending orders around a candle you choose by time: a Buy Stop above its high and a Sell Stop below its low. Whichever side breaks out first gets triggered; the stop loss of each order sits at the opposite entry, so the risk is always defined by the candle range.
How it works
- You choose the candle: timeframe and open time (hour:minute, broker time) - for example the 09:00 M15 candle, the London or New York open.
- After that candle closes, the EA marks its high and low and places Buy Stop / Sell Stop with an optional offset in pips.
- Stop loss of each order = the opposite entry level. The opposite order stays active after one side is triggered.
- Lot size is calculated automatically from your risk: a fixed amount in money or a percentage of balance.
- Take profit is calculated from a target in money (or can be disabled).
- Open positions are managed by a trailing stop OR by moving the stop to break-even after X pips (your choice).
- All levels are drawn on the chart.
Safety checks
- free margin, volume limits/step and broker stop/freeze levels are checked before every order;
- the setup is skipped for the day if price has already left the candle range;
- the trade is skipped if even the minimum lot would exceed the chosen risk too much;
- optional deletion of untriggered orders at the end of the day.
Inputs
Candle timeframe, hour, minute, entry offset (pips); risk mode (money / percent), risk amount, risk percent, target in money; management mode (none / trailing / break-even), trailing distance, break-even trigger and lock pips; delete pending orders at end of day; magic number.
Notes
- Works on any symbol and timeframe (forex, metals, indices); pip size is detected automatically (including gold).
- One setup per day per chart; run it on several charts with different magic numbers for several sessions or symbols.
- No martingale, no grid, no DLLs.
- Trading involves risk. Past behavior of a breakout setup does not guarantee future results - test it in the Strategy Tester with your broker's data before going live.
