Daily Breakout EA MT4

"Unlike numerous products available on MQL5 Market, this Expert Advisor is built on a genuine day trading system. It completely avoids risky techniques like martingale or grid strategies, relying instead on a sound and logical approach.

Daily Breakout EA is tailored for trading predefined timeframes. Markets frequently establish their trend during the morning, which often persists throughout the rest of the day. This EA is specifically engineered to capitalize on these momentum shifts following a morning breakout, though it is flexible enough to trade any time-based breakout strategy.

I have personally applied this methodology in a live account for several years with very solid performance. The default parameters are optimized for USDJPY. For XAUUSD, I apply identical inputs, except the range period is set to 03:00 - 06:00, and one trade only pending orders expire at 18:55, and open trades are liquidated at 18:55.

Please conduct your own backtesting and forward testing! While these settings work for me, superior configurations may exist. Because future market trends cannot be guaranteed, I do not provide financial advice or set recommendations.

Feel free to download the free trial and test it out for yourself!"

Live Signal : https://www.mql5.com/en/signals/2283078?source=Site+Signals+My#!tab=history

• Risk Setting
• Risk_Amount_in_Currency
  Description: Sets the maximum risk amount in your account's base currency (e.g., USDJPY) per trade sequence. Used for dynamic lot size calculation if fixed lot and volume percentage are set to 0.0 .
• Volume_Percent
  Description: Determines the lot size based on a percentage of your total account balance. If set to a value greater than 0.0 , it overrides Risk_Amount_in_Currency

• Manual_Fix_Lot
  Description: Overrides dynamic lot calculations. If set higher than 0.0 , the EA will execute all pending and market orders using this exact fixed lot size

• Take_Profit
  

  Description: Sets a fixed Take Profit target in points/pips. If set to 0.0 , no hard Take Profit will be placed.
• Stop_Loss_Percent
  Description: Defines the Stop Loss distance as a percentage relative to the calculated high/low range price levels. If set to 0.0 , the EA uses the opposite side of the breakout range (Low for Buy, High for Sell) as the default Stop Loss level.
  
  
• Time Settings

• Range_Start_Hour

  Description: The hour (based on server time, 0–23) marking the start of the price observation window.

• Range_Start_Minute

  Description: The minute (0–59) marking the start of the price observation window.

• Range_End_Hour

  Description: The hour (based on server time, 0–23) marking the end of the range calculation period and triggering order execution.

• Range_End_Minute

  Description: The minute (0–59) marking the end of the range calculation period and triggering order execution.

• Range_Timeframe

  Description: Specifies the chart timeframe used to calculate the highest High and lowest Low during the designated range period (e.g., PERIOD_M1 , PERIOD_M5 ).

• Use_Auto_Close

  Description: Enables or disables the scheduled automatic closure of active market positions and pending orders.

• Close_Hour

  Description: The server hour at which all positions and pending orders managed by this EA will be automatically closed if Use_Auto_Close is enabled.

• Close_Minute

  Description: The server minute at which the automatic close rule triggers.
  
  

• Trailing Settings

  • Use_Trailing_Stop

    Description: Toggles the trailing stop feature on or off to protect locked-in profits.

  • Trailing_Start_Percent

    Description: The profit threshold (in percentage) that an active position must achieve before the trailing stop mechanism is activated.

  • Trailing_Stop_Percent

    Description: The trailing distance percentage used to update the Stop Loss as price moves in favor of the trade.
    
    

• Strategy Settings

  • Trade_Only_First_Order

    Description: When set to true , as soon as one breakout order (Buy or Sell) is filled into an active position, the remaining opposite pending order will be automatically cancelled.

  • Use_Range_Filter

    Description: Enables or disables min/max range size filters to skip trading during exceptionally tight or overly volatile consolidation periods.

  • Min_Range_Size_Points

    Description: Minimum range width in points required to allow order placement. Ranges narrower than this value will be skipped.

  • Max_Range_Size_Points

    Description: Maximum range width in points permitted for placing trades. Ranges wider than this value will be skipped.

  
  

• Global Settings

  • Magic_Number

    Description: A unique identifier assigned to trades opened by this EA to distinguish them from manual trades or other automated systems running on the same account.

  • Order_Comment

    Description: A custom text label attached to orders for easy tracking and identification in the trading log/history.

  • Max_Slippage

    Description: The maximum allowable price deviation (in points) when opening or closing market orders.
    
    

• Visual Settings

  • Range_Box_Color

    Description: Defines the fill color of the rectangle drawn on the chart to visually highlight the calculated range high/low boundaries.

  • Dashboard_Color

    Description: Sets the primary color of the text displayed on the on-chart informational dashboard.