BeST Breakout Strategy MT5
BeST_Breakout Strategy is a Metatrader Indicator based on a proprietary algorithm implementing a very powerful tool that can generate amazing big profits as it exploits every breakout leading to huge market movements.It timely locates the most likely points for Entering the Market as well as the most suitable Exit points and can be used successfully as a standalone Trading System which often results in huge profit accompanied by very impressive statistics of Success Ratio and Profit Factor.
The BeST_Breakout Strategy is a non-repainting and non-backpainting Indicator while using it you can get:
- Definite Entry and Exit Signals of high winning probability
- 3 different Exit strategies to select
- Draw of the corresponding Breakout Level
- A Real Time Updated Info and Statistics Panel
- All the Metatrader Alerts for the bars of Entry and Exit Signals (optionally)
- Fully customizable colors, sizes and distances of all the chart objects
- LB_Period – LB Period for calculating Breakout Levels
- Entries Smoothing Factor – for calculating Breakouts’ frequency
- Select the Exits Mode – for selecting the preferable Exits Mode out of
- Reverse Mode – Exit by Reversing the trade at the next opposite Entry Signal
- Fast & Slow MAs Crossings – Exit when the 2 Mov.Averages intersect
- TP & SL Levels – Exit when price hit the predefined Take Profit or Stop Loss pip-values
After selecting the Exits Mode we can select the corresponding Exit features:
If Exits_Option = TP_SL_Levels
- TP in pips – for selecting Take Profit pip-Value
- SL in pips – for selecting Stop Loss pip-Value
If Exits_Option = MAsCrossing_Mode
- Fast Exit MA Period – for selecting the LB Period (bars) of Fast Mov.Average to be used for Exits
- Fast Exit MA Method – for selecting the calculating Method for Fast Moving Average to be used for Exits (i.e.Simlpe,Exponential,…)
- Fast Exit MA Price – for selecting the Price apllied for Fast Mov.Average to be used for Exits (i.e. Close,High,…,Typical,…)
- Slow Exit MA Period – for selecting the LB Period (bars) of Slow Mov.Average to be used for Exits
- Slow Exit MA Method – for selecting the calculating Method for Slow Moving Average to be used for Exits (i.e.Simlpe,Exponential,…)
- Slow Exit MA Price – for selecting the Price apllied for Slow Mov.Average to be used for Exits (i.e. Close,High,…,Typical,…)
Displaying Settings – for selecting which chart objects and features to show or activate
Graphical Settings – for selecting the color, size and distances of drawn objects
Arrows Settings – for selecting to show or not Entry and Exit arrows / signals
Panel Settings – for selecting to show or not the Info Panel and controlling the colors used for
Alert Settings – for controlling the use of Entry and Exit points MT5 alerts (i.e. MT5 Alert, Email Alert and Push Notification)
The 3 simple steps for trading using the BeST_Breakout Strategy Indicator
- Select LB_Period and a Smoothing Factor for calculating the Breakout Levels
- Select the Mode for your EXITS i.e.
- REVERSE_MODE = for Reversing the trades by an opposite Entry Signal
- FAST & SLOW MAs CROSSINGS = for Exiting when the 2 selected Mov.Averages cross each other in the right direction
- TP & SL LEVELS = for Exiting when price hits the selected TP or SL level
3. Check Statistics and if they are good and improved over time then open a trade immediately after the next Entry Signal and then:
- If using the TP & SL LEVELS Exit Mode modify your already open order by using the corresponding TP and SL prices that are displayed as chart lines.
- If none of these levels are reached just Exit on the next opposite Signal and Reverse your position.
- Also in any other case Exit immediately after the next EXIT or Opposite ENTRY Signal.
Logical Criteria for using the Success Ratio
The Succes Ratio is not a steady number but it is a Mean Reverting number and so always crosses 50% from time to time. If it is increasing from under to over 50% it is possible to continue growing until a value up to 70%-80%+ by getting more winning trades than losing ones.
Thus an increasing Success Ratio of 55% - 60%+ gives us logicaly also a very good probability for the next 1-2 trades to be winners.
For EA Developers
- Buy Arrows: Buffer = 2
- Sell Arrows: Buffer = 3
- TP Exit Signals: Buffer = 4
- SL Exit Signals: Buffer = 5
- MAs Exit Signals: Buffer = 6
2) Improving internal function for Exit Signals displaying