Three Bar Break EA MT5
This EA should work on any market and any timeframe though is optimised for EURUSD 15m timeframe.
- A purely mechanical system. Simply set and leave.
- Risks are small per trade.
- An optional automatic lot adjustment feature that adjusts lot size to the account balance. Or to use a fixed lot size.
- Features a panel showing, bid, ask, spread, lot size balance, equity, profit/loss, stop level and broker execution speed.
- To find broker execution speed we press button Execution Reading.
- Magic Number - A unique value to this EA so that if used alongside other EA's within MT4 it can differentiate between all orders placed and only adjust orders placed by this EA.
- Slippage - If trade is opened and its past the expected price of trade by x points as specified here then the trade will not be opened.
- Lot Size - Adjusts the size of trade exposure we have. EG 0.01 on the EURUSD will mean every micro incremental point move will equal 1 pence.
Maximum Spread - Allows only trades when market is less than or equal to the spread as input by user.
- Stop Loss - Sets the size of stop loss from opening order price in points.
- Take Profit - Sets the size of take profit from opening order price in points.
- Trailing Stop - Sets the size of our trailing stop in points.
- Minimum Profit To Trailing Stop - Sets the size of profit in points that is required before we activate out trailing stop.
- Close Opposite Order - Closes opposite pending order. EG If our sellstop is opened it closes the buystop
- Pending Buy - Sets the distance in points we place our buystop order from the nearest part of triangle.
- Pending Sell - Sets the distance in points we place our sellstop order from the nearest part of triangle.
- Bar Count - Sets the amount of bars we count before deleting our pending order.
- Money Management - True means we will adjust lot size as a percentage of our trade capital. As set in Percentage Risked Per Trade. False means we will use fixed lot specified under Lot Size above.
- Risk Percentage - Percentage we risk per trade. EG 2 = 2% of our total trade capital will be risked per trade. This we be calculated using both stop loss and account size.
- Start Hour - On and after this hour the EA will start trading.
- End Hour - On and after this hour the EA will stop trading.
- Lines On or Off - Sets if we want lines to appear on chart outlining the triangle pattern.
- Line Color - Sets which color we want the lines.
- Line Size - Sets the thickness of lines.