Daily Breakout EA 3.0
Metatrader Expert Advisor (MT4/MT5)
This EA trades daily breakouts placing bidirectional pending orders using the last day's trading range, provided these price levels have not been yet tested. It offers many trading behaviors and flexible position management settings, plus a martingale and inverse martingale mode.
- Easy to use and supervise
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Implements a martingale and inverse martingale features
- Trading is NFA/FIFO Compliant
- Built-in money management
Four different trading behaviors are available in the EA inputs:
- Regular: The EA will buy at yesterday's high and sell at yesterday's low
- Inverse: The EA will buy at yesterday's low and sell at yesterday's high
- Only Buy: The EA will buy at both price levels
- Only Sell: The EA will sell at both price levels
Additionally, it implements four different 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
- ≡ Input parameters
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Trading Settings
- Select trading behavior: regular, inverse, only buy or only sell.
- Position Management
- This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, break-even behavior, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips. Closing pending orders when a trade is taken is optional.
- 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 and inverse martingale behavior. Trading can be NFA/FIFO compliant if selected.
- 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.
- ? FAQ
- Is the EA NFA/FIFO Compliant?
- Yes, it is.
- Do I need a VPS to run the EA?
- Yes, you do. Or having your home computer turned on 24/5.
- Can I interfere with the trades of the EA?
- Yes, you won't cause the EA to missbehave.
- Will this EA interfere with other EAs running in my account?
- No, it won't.