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London Breakout MT5

5

London Breakout MT5

is the low-risk and low-priced Breakout Expert that trades morning session breakouts of GBPUSD, here offered by the original developer. 

Watch this video before you intend to buy a Breakout Expert Advisor: https://www.youtube.com/watch?v=c0UwKrWnoEE&t=2s 

Compare current performance with top rated, high priced experts here: https://www.mql5.com/en/blogs/post/757139

Life signal (shows all current life trades without any delay): https://www.mql5.com/en/signals/2190019

By default two stop orders are placed per session. The onscreen panel provides a detailed overall view about system and market status. Furthermore, it includes buttons for active Traders to place additional sessions and/or market orders manually at any time as mechanical experts are not able to catch every further promising trading opportunity during the day's market movement. 

Unlike experts that use Martingale or Grid strategies, London Breakout MT5 doesn't use such strategies and protects its trades by setting fixed stoploss and in addition, possible drawdowns become limited by the build-in recovery function that balances profitable positions with lower loss positions. Profits are taken by virtual trailing and starts at the preset of "Profit Trail Activation" level or higher if indicator-controlled value exceeds the preset.

The expert is spread- and latency-sensitive. Therefore, it is highly recommended to choose Hedge ECN-accounts of types "RAW" or "Razor" with reliable Brokers like IC Markets, FP Markets, Tickmill, … However, standard accounts are not recommended for their huge spreads! 

The build-in News-Reader/-Trader allows to quickly inform on chart about the coming news events and offers setup of trading pauses to start before news of high market impact. It is highly recommended to use this feature as breakout strategies sometimes will fail if the broker doesn’t fill the order at the predetermined price or huge spreads because of extremely high demand. Especially interest rating decisions and Nonfarm Products releases. Furthermore, for continuously operation the expert should become installed on an VPS with locations of low latency like for example New York or London.

Installation is done on the GBPUSD chart whereby the chosen timeframe doesn't matter and even can be changed at any time of the expert's operation status without to affect it. Furthermore, the expert regards only trades of the same Magic Number and Symbol. Therefore, manually entered trades should be entered by the Panel buttons "BUY"/"SELL", if become included in the expert's calculations. 

Session opening takes place at GMT hour and does not be needed to adjust. All other trading time settings are taken from the accounts broker server time. For convenience the GMT-hour is displayed beside the server-hour on the Onscreen Panel.   

TIP: Backtest in visual tester mode allows to operate the Expert just like in life trading if in the Settings "Display Panel in visual Tester Mode" was set to "true". All the buttons can be utilized. To utilize the News Reader data in visual tester mode, please ask for my special free Script tool that prepares the news data for Backtesting. 

Features Overview

  • Currency pair GBPUSD
  • Works in any time frame
  • After server restart/fault or expert update contiunes operation of open trades frictionless
  • Adding of further order sets repeatedly manually at any time
  • Trades with Stop-Loss protection
  • Recovery mode optional
  • Virtual trailing stop and trailing take profit
  • Broker big slippage and big spread protection 
  • Breakeven recurring touch protection (see screenshot)
  • Money Management with Auto-Volume adaption
  • News Event Calendar with News-filtered Trading pause optional
  • Auto/Manual GMT adjustment
  • Onscreen Panel with status information/messages and buttons for manually:
    • Opening of new stop order set at any time manually
    • Placing Buy/Sell market orders
    • Closing open orders
    • Show/hide News Event Calendar
    • Show/hide Onscreen-Panel by clicking its headline or pushing key ‘s’

>>> For detailed setup and installation instructions: https://www.mql5.com/en/blogs/post/756029

>>> Tips for choosing the right broker and VPS provider: 

-> By renting the product previously and purchasing later, the rental amount becomes refunded. 





Recensioni 1
Ocean
339
Ocean 2024.02.13 19:00 
 

Professionally programmed EA, high attention to safety, perfect panel with manual trade and pending orders, News panel. Excellent communication

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Ocean
339
Ocean 2024.02.13 19:00 
 

Professionally programmed EA, high attention to safety, perfect panel with manual trade and pending orders, News panel. Excellent communication

Rispondi alla recensione
Versione 1.65 2024.04.27
- Performance improved and orders opening time changed
- Minor corrections and optimizations
Versione 1.63 2024.03.30
- Reduced count of repeated log messages
Versione 1.62 2024.03.29
- Minor bug fixes
Versione 1.61 2024.03.28
- Added protection against possible Rollover close positions in drawdown because of big spread after the market reopen,
if currently virtual traling stop is actively trailing
- Added tolerance for GMT entry time if the broker failed to deliver ticks at the requested time
Versione 1.59 2024.03.26
- Minor code optimizations to recuce CPU utilization
Versione 1.58 2024.03.21
- Added protection when timeserver.com is temporarily unavailable in Auto-GMT mode. (Does not affect trading operation.)
- News messages that are wider than the news window reformatted.
- Minor bug fixes
Versione 1.56 2024.03.18
-Changed on Panel displayed current time to local time from former server time
-Fixed an issue where some parameters displayed on the panel hadn't been updated in advance if the market time was off (weekends)
Versione 1.54 2024.03.10
Minor changes in News Event function
Versione 1.52 2024.02.29
Fixed an issue where disabling of manually Buy/Sell orders via onscreen panel buttons wasn't aviable. Therefore, if a new set was opened, always both trading directions had been set.
Versione 1.50 2024.02.22
Code modified to more tolerance if in rare cases different servers are having slightly different ticks.
Versione 1.49 2024.02.22
Changed opening of manual order set:
Now, if the current candle's open/close is inbetween its high/low and its high or low is greater/lower than the past candles inside the trading box, orders become opened at its high or low instead at the previous candle as before in V1.48. This offers more oportunities to reenter order sets.
Fixed an issue where the history profit was calculated slightly different.
Versione 1.48 2024.02.19
Fixed issue where displaying of current time was disabled on Onscreen Panel
Versione 1.47 2024.02.16
Minor bug fixes
Versione 1.46 2024.02.16
Further drawdown protection enhancements
Minor bug fixes
Versione 1.44 2024.02.08
Minor bug fixes
Versione 1.43 2024.02.07
Added new Feature "Breakeven Recurring Touch Protection" to avoid deeper drawdowns after the price could not break through after several attemts. If the feature is enabled, the trade become closed with a small loss or small profit.
Versione 1.42 2024.02.05
Code optimized
Setting parameters adjusted (If previous version becomes updated, please reset the settings to default and enter your individual changed parameters after that.)
Minor bug fixes
Versione 1.40 2024.01.28
Performance improved and possible drawdown reduced
Minor bug fixes
Versione 1.36 2024.01.24
Added optional protection against big broker slippage.
How it works:
Big slippage means that the broker doesn't send your pending stop order to market at the preset price but moves it much further against your desired entry price and send it to market with big delay. At that point the price often unpredictable pulls back and possible results a bigger drawdown.
When something like this occurs and the Slippage Protection is activated, the opened market position becomes closed immediately with a negligible loss and therefore prevents against a possible huge drawdown.
Versione 1.35 2024.01.22
Optimized Spread protection and reduced max. Spread settings to 20 points from former 50 points
Minor bug fixes
Versione 1.34 2024.01.19
Event calendar optimized
Minor bug fixes
Versione 1.33 2024.01.18
Minor bug fixes
Versione 1.31 2024.01.17
Fixed an issue with GMT calculation
Added On-/Off-Button to News Reader panel for displaying past news preset in hours in settings page
Versione 1.30 2024.01.17
Added News Reader with switchable News Timer to enable/disable Trading during news with expexted high market impact
Added Auto GMT detection
Versione 1.24 2024.01.10
Further improvement of performance and profit
Versione 1.23 2024.01.08
Fixed an issue where manually opening of stop order session didn't apply
Versione 1.22 2024.01.08
Minor bug fixes and code speed optimization