Flexible Breakout EA 4.2
Metatrader Expert Advisor (MT4)
Trade donchian breakouts with complete freedom using the free Flexible Breakout EA. It 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 a 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
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
- ≡ 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 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.
- ? FAQ
- Is the EA NFA/FIFO Compliant?
- No, it is not. Trade with non-nfa broker.
- 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.
- ✎ Comments
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