PZ Flexible Breakout EA MT5
Trade donchian breakouts with complete freedom. This EA can trade any breakout period, any timeframe, with pending or market
orders- as desired- and implements many other useful features for the
exigent trader, like customizable trading sessions and week days, a martingale
mode and inverse martingale mode.
- Easy to use and supervise
- Customizable trading direction
- Customizable donchian breakout period
- It can trade using pending or market orders
- Customizable break-even, SL, TP and trailing-stop
- Built-in money management
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Filter trading by forex sessions
- Filter trading by week days
- NFA/FIFO compliant (optional)
The EA implements four different trading behaviors:
- Regular: The EA will buy at bullish breakouts and sell at bearish breakouts
- Inverse: The EA will sell at bullish breakouts and buy at bearish breakouts
- Only Buy: The EA will buy at bullish breakouts and disregard bearish ones
- Only Sell: The EA will sell at bearish breakouts and disregard bullish ones
Additionally, the EA implements four money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
- Trading Settings - Select trading direction, trading mode (market orders or pending orders) and the donchian breakout period in bars for the EA trade.
- Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Sessions Settings - Enable or disable trading for the Assian, European or American sessions.
- Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended.
- EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
What to expect
EA is a general purpose tool which success depends on your
understanding of the underlying strategy and your ability to configure
it. This EA will not generate profits under all market conditions and
not claim to do so. It is up to you to find the best
parameters for each symbol and timeframe using the
Support and questions
Use the helpdesk for questions or timely support. Write an email to: email@example.com
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.