Daily Range Breakout

Daily Range Breakout EA is a breakout strategy with buys when close of current bar is lowest in past N bars and price of next bar is greater than close of previous bar. Condition for sell trades are the opposite.

The idea is based on Larry Williams Smash Day strategy.

I trade this strategy live and it works in multiple markets. It works best in Daily timeframe.

Not Martingale/Grid Strategy. Real result with stop loss.

You can reproduce the result for Gold using the default parameters.

Instructions

Set Files

Input Value:

magicNumber - the number for the EA to recognize it’s own positions

lot - lot size

tradeLong - True/False whether the EA trades long positions

tradeShort  - True/False whether the EA trades short positions

useTakeProfit - True/False whether the EA uses take profit

useStopLoss - True/False whether the EA uses stop loss

takeProfit - take profit value

stopLoss - stop loss value

useDefaultClose  - True/False whether the EA uses default close condition. Default condition: close is profit greater than 0 and position is held for more than minPositionHoldDay

minPositionHoldDay - minPositionHoldDay for default close condition

lookBackPeriod - look back period of the breakout, larger the value, less trades will occur

useDiffThreshold - filter trades by taking trading only if the change in price is greater than diffThreshold. 

Change in price is calculated by (lookbackHigh - lookbackLow) * 100 / currentClose.

diffThreshold - change in price threshold value

Past performance does not guarantee future returns.