"'Breakout Master' is an automated trading software (Expert Advisor).
The software works with stop orders, placing them to nearby support and resistance levels (swing high and low on daily timeframe).
- Symbols: XAUUSD, EURUSD . Default parameters are optimised for 3 digit xauusd prices. You can download set files here: https://www.mql5.com/en/blogs/post/725630
- Timeframe: M30
- Broker: New York close chart (5 daily candle per week). This is important, the software will not work correctly otherwise.
- The value of the SR_Offset parameter is adjusted to 3 digit XAUUSD price quotes, if your broker provide you different number of digits, you need to change this parameter (or use my set file). For example divide this parameter by 10 if you have 2 digit XAUSD.
- Backtesting with tick data: Please make sure that your TDS has the following settings: GMT shift: +2, DST: Europe. Dukascopy tick data is recommended.
- Backtested with 99,9% modelling quality (tick data suite v2)
- Every trade has a stop loss and take profit level
- No martingale, grid or other risky strategy included
- SR_TimeFrame - Search support/resistance on this timeframe
- SR_Period - Number of candles to check while searching
- SR_Right_Confirm - Minimum number of candles needed to confirm a level at right (see pictures for more details)
- SR_Left_Confirm - Minimum number of candles needed to confirm a level at left (see pictures for more details)
- SR_Offset - Pending orders are placed some pips above or below the support/resistance levels based on this parameter
- UseBrokenLevels - Use a broken support/resistance level or not
- StopLoss - The stop loss distance is calculated by the Average True Range indicator multiplied by this parameter
- TakeProfit - Same as the stop loss
- ATR_TimeFrame - Timeframe of the Average True Range indicator
- ATR_Period - Period of the Average True Range indicator
- Lot - fixed lot size on every trade
- Risk - percentage of actual equity to risk on a single trade. Lot size increases with account equity. Set zero here to use fixed lot size.
- StopBar - close open trades after x bar
- Magic_Num - Magic number
- Order_Comment - order comment