Breakout Trader lite
Breakout Trader Lite is a simpler version of our Breakout Trader pro EA.
It allows you to specify any time frame you wish as the range period, and allows you to specify fixed TP distance and trailing stop loss distances.
You specify the start and end times of the range you want to check for breakouts, and the EA calculates the high and low of that range and places pending orders according to your parameters.
The EA opens Buy and Sell orders above and below the range you set and automatically sets the Stop Loss and Take Profit based on parameters set by you.
A time range can start and end at any time you wish. Breakout Trader Pro has an end time to the range, number of hours back to specify the start of range and also the trigger time to start the EA.
The risk calculation feature also lets the EA manage your lot sizes by calculating your current available balance and open trades at lot sizes in accordance with your set % risk setting.
- EA is designed for MetaTrader 4 platform
- Can handle two lines: high level for BUY signal and low level for SELL signal
- Fixed Trailing Stop Loss and TP levels available
- Time period not restricted to 00:00 to 23:59
- Lot size can be fixed or EA can use Advanced Money management
- Lot Size: This is the size of each pending order that will automatically be placed.
- TP: Fixed TP level in pips from the order price.
- Show Box? (If "Y" then a box will be drawn around range. Max 5 boxes on the chart at a time)
- Close open orders the next day? (If "Y" any open order will be closed when the pending orders are placed for the next range)
- Use Trailing Stop? If set to “Y: then trailing stop loss (TSL) will be enacted for all open orders on the chart.
- Distance to maintain Trailing Stop: (This sets the distance to trail the price once trailing SL is activated. If "0" then distance will be the same as the SL activation level)
- Risk % of account: (If the lot size is set to zero, then this will be used to calculate the appropriate lot size depending on your account balance and margin requirements. if "0" default is 1%.)
- End of Period: This is the Hour that designates the end of the period being examined. This is set to the users broker time.
- Number of Hours in Period: How many hours to look back from the end to find the start of the range.
- Activation Time: Time to activate the EA and place the pending orders. This is the time it actually creates pending orders.
- Distance: Distance to place the pending orders from the High/Low of the range in pips.
- SLDD: (Distance between opposite side order to place the fixed SL) Positioning of initial SL of pending orders.