Trend Line Breakout Utility

Trend Line Breakout Utility MT5 is a trading utility designed to automatically open market positions after a confirmed breakout of trend lines manually drawn by the trader in MetaTrader 5.

You draw a standard MT5 trend line and the utility monitors it. A trade is executed only after the breakout has been confirmed by a completed candle.

Main Features:

• Works with standard MetaTrader 5 trend lines.
• Breakouts are confirmed only by completed candle closes, not by a simple touch or intrabar price spike.
• Automatic detection of rising and falling trend lines.
• BUY, SELL or Do Nothing can be configured separately for every breakout type.
• Each trend line is linked to the timeframe on which it was created.
• 7 individual Symbol + Lot settings.
• Default Lot for all other trading instruments.
• Configurable Magic Number and trade comment.
• One trend line can generate a maximum of one successful trade.

Default breakout logic:

• Falling line + breakout up = BUY.
• Falling line + breakout down = Do Nothing.
• Rising line + breakout up = Do Nothing.
• Rising line + breakout down = SELL.

Each of these four scenarios can be changed in the Inputs to BUY, SELL or Do Nothing.

Timeframe Binding

If a trend line is created on H4, for example, the breakout will be confirmed using H4 candle closes. Switching the chart later to M5, M15, H1 or another timeframe does not change the timeframe assigned to the registered trend line.

Use Together with Risk Manager

For more complete trading and account risk control, this utility can be used together with Risk Manager for MT5.

Trend Line Breakout Utility handles market entries based on your manually drawn trend lines, while Risk Manager independently controls open positions and account risk.

When used together, Risk Manager can automatically set Default Stop Loss and Take Profit levels and control risk per trade, daily, weekly and monthly limits, maximum lot size, number of trades and other account risk parameters.

This allows the two independent utilities to form a more complete trading workflow: Trend Line Breakout Utility automates the entry, while Risk Manager handles risk control and account protection.

How to Use:

1. Attach the utility to the required chart.
2. Configure the required lot sizes.
3. Draw a standard MetaTrader 5 Trend Line.
4. Keep Algo Trading enabled.
5. Once the breakout is confirmed by a completed candle, the configured trading action will be executed.

This utility is not a standalone trading strategy. The user is responsible for trend line placement, entry settings and risk parameters.