The Breakout Code

Introducing "The Breakout Code"- The ultimate trading bot for capitalising on breakouts in the market. This bot utilizes a powerful breakout system to identify and capitalize on market movements, ensuring that you never miss a profitable opportunity. With its advanced algorithms and real-time analysis, "The Breakout Code" is able to quickly and accurately identify key levels of support and resistance, allowing it to spot high probability trades. Whether you're a seasoned trader looking to reduce trading stress or just starting out, "The Breakout Code" is the perfect algorithm for extracting your edge from the market.

This algorithm does not use grid or martingale. It simply relies on identifying high probability setups with traditional risk management.

Whilst this algorithm will work on any pair, I highly suggest it's only applied to USDJPY as the logic has been developed specifically for this pair.

Usage notes:

• Expert advisor works on the H1 timeframe.
• Default risk is 1% per trade, though I personally run this at 4%. 
• Working symbol USDJPY, however will work on all pairs
• Some parameters of the Expert Advisor are open for adjustment to the end user, however most are embedded within the code.   
• Parameters in place for passing prop firm challenges. (If you need something more complex, please let me know)
• Works on all type of accounts
• Always uses a fixed stop loss and take profit
• No Grid trading
• No Martingale methods
• No averaging techniques
• All trades will close before the end of the trading week

An explanation of the parameters are below:-

Finding Recent High Lookback: Looking forwards and backwards to determine the recent swing/how. Higher number is for more significant levels.

Risk: Amount of $$$ risked per trade as a % of the account balance. Default is 1%, though you could take this up to 4% if you are ok with risk.

StopLoss: Number of pips Stop Loss.

TakeProfit: Number of pips Take Profit.

Loss_Limit: Specify the daily loss limit. (Important for funded accounts)

Trail_Stop_Enable: Enable/disable the trailing stop.

Trailing_Stop: Number of pips to trail the stop by. Enables greater profits on strong breakouts.

Trailing_Step: Number of pips to use during step increments.

PipsEnableTrailStop: Number of pips before the trail stop is activated.

Equity_Cut_Out: Once account equity reached this value, the algorithm will close trades and disable itself. (Important for funded challenge targets)

Price_Offset_In_Pips: Pips to enter early, increase if you want to be more aggressive.

Magic Number: Unique number used by the algorithm to identify it's trades from other algorithms.

altro...