Volatility Breakout Scalper
This system is like my Volatility BreakOut Trader but the system was built using a custom zig zag system, which maps support and resistance zones and forms channels around ranging price waiting for breakouts. The system trades by placing strict market orders on the most recent support or resistance level likely to be broken by active volatility. This Volatility breakout systems is based on the premise that if the market moves a certain percentage from a previous price level, the odds favor some continuation of the move. This continuation might last from a few seconds or for a few hours, or go just a little bit beyond the original entry price, but this is still enough of a profit to play for. The EA uses trail stop to follow profit and breakeven at 1 pip to keep a profitable trade from turning to a loss. it has been trained on EURUSD data from 2009 till date.
This EA sets SL at 20 pips or 15 pips and TP at 300 pips, to reduce drawdown and maintain Equity growth, It works on any pair and any timeframe, available set files are on comments page.
It is advisable to use on VPS. Ping to the broker's server may be no more than 50 ms, which is enough, because trades are opened in a quiet market.
Monitoring Signals: https://www.mql5.com/en/users/theallegrarr/seller
Advantages of this System
- The EA does not use such systems as Martingale, hedging, etc. Always uses SL and TP.
- Good testing results on data from 2009.
- Works any pair mostly on 1H Timeframe
- Good testing results with 90,0% of simulation quality.
- No need to close the robot during news releases, it trades volatile periods well.
- In periods of very low volatility, SL will be hit often
- Spread + commission must not exceed 1.3 pips
- Requires good execution, broker should not have too much slippage.
- UseMaxSpread_Filter: To keep trading spread below a max value
- MaxSpreadInPips: max spread value
- show_display: show display text
- ReverseSignal: open a reverse signal while another signal is open
- Magic: EA magic number
- StopLoss: SL measured in pips
- TakeProfit: TP measured in pips
- Slippage: Max slippage allowed
- MarketWatch: always set this value true, when false it halts trading
- ClosePosifChange: close position when a signal changes
- ONlyOnePosbySignal: open one position at a time
- Risk: The max risk is 20.0
- Lots: Lot size for fixed lot
- OpenHour: open time hour
- OpenMinute: open time minute
- CloseHour: close time hour
- CloseMinute: close time minute
- TrailingStopUSE: Trailing stop
- IfProfTrail: Trail profit
- TrailingStop: Trail stop value
- TrailingStep: step for trailing
- MovingInWLUSE: Breakeven use
- LevelWLoss: profit level to use breakeven
- LevelProfit: breakeven value