Range Breakout Expr

Range Breakout Expr

This EA is a typical range breakout that takes a position when price breaks through the high or the low for a set range. A starting time is set by the user to start the range at a certain time for a specified duration.

Once the range is complete, the high and low of the range will be the level where positions will open should the price break above or below the range.

A daily closing time is then selected to close the position at the end of the day. This process is then repeated for every trading day.

This EA is used mainly on USDJPY and GOLD.

The best time frame is usually the 1 minute to prevent taking positions far from the high and low levels.

Market orders are then placed when the one-minute bar closes above of below the range levels.

2.1 General Settings

The user can select their own magic number for each chart. It is recommended that the user select a unique magic number for each chart.

The user can select the time frame to take trades on. Note that this input should correspond to the chart’s time frame.

2.2 Lot size | Volume

Lot sizes are calculated based on the user’s selection from four different types / modes:

1.      Fixed lots (user selects their own lot size which will remain fixed)

2.      Lots based on equity (lot size is calculated dynamically based on the equity balance e.g. if the user selects 1 and the equity is 100,000 then the lot size will be 1, if the equity is 10,000 then the lot size will be 0.1, and if the equity is 1,000 then the lot size will be 0.01.)

3.      Lots based on % of account (lot size is calculated dynamically based on the % of the current equity. Users will select this option if they want to risk a % of their account e.g. selecting one 1 will risk 1 % of the account. A stop loss is required for this option.)

4.      Lots based on money (lot size is calculated based on a monetary value selected by the user e.g. risk $100 per trade. A stop loss is required for this option.)

Note that calculated lot sizes will be adjusted to minimum and maximum values allowed if they fall outside of the allowable range.

2.3 Stop Levels

Stop levels are all percentage based. There are two modes to choose from.

The first is based on a percentage of the current price (POP for percentage of price), the second is based on a percentage of the distance between the high and low of the range (POR for percentage of range), which will be different for each day.

Note that stop levels based on the daily range can go past 100%.

The user can also select the maximum spread allowed to trade. If the broker’s spread is higher that selected, no trade will be made.

2.4 Trading Times

Trading times are in minutes and should be converted by simply multiplying the desired hour by 60 and add the minutes afterwards as per the table below.

There are three times required by the user:

1.      Range open time

2.      Range duration (this is not the closing time but the duration until the closing time)

3.      Trade closing time.

The following is an example of how to calculate the inputs for the trading times:

Range start time: 03h00 (3 x 60) = 180 (user enter 180)

Range duration: 3 hours (3 x 60) = 180 (user enter 180) (range will end at 06h00)

Trade close time: 18h30 (18 x 60 + 30) = 1110 (user enter 1110)

2.5 Breakout Mode

The user can select to take only one breakout trade per day or possibly two breakouts if price breaks out in both directions during the same day.

The following trading pairs are examples that can be used for each strategy with some optimization settings. Always do your own back tests and optimizations before committing to a trading strategy.

Setup and settings:                       USDJPY                               XAUUSD

Capital:                                         1,000.00                            1,000.00

Period:                                          Jan 2015 – May 2025           Jan 2015 – May 2025

Time Frame:                                  1 Minute                            1 Minute

Modeling:                                      Open prices only                Open prices only

Lot mode:                                     % of account                      Fixed Lots

Lots / Percent:                              5.4%                                  0.9 lots

Stop mode:                                    sl % of range                     sl % of price

Stop loss:                                       150%                                1%        

Take profit:                                    0                                      0

Max spread:                                   100                                   200

Start time:                                     180                                  185

Duration:                                       180                                  180

Close time:                                    1080                                 1135

Breakout mode:                              high&low                         one per range

Use range filter:                             no                                    no

Win rate:                                       48.5%                                50.4%

Profit factor:                                  1.25                                 1.23

Sharpe Ratio:                                  1.65                                1.23

The optimization results shown above should only be used as an indication of the profitability potential of the EA. They do not guarantee that similar results will be obtained in future when using this EA.

See screenshots for more results. Please note that using this EA does not guarantee any performance expectations.

Due to the high-risk nature, do not invest capital that you cannot afford to lose.