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Breakout Strategy EA

The breakout strategy EA places pending orders in both directions on consolidation based on bollinger bands. We have used it on the M15 time frame and tested from January 2012 to May 2017 on USDJPY and will work on any currency pair. Comes with an indicator to allow visual representation of how the EA is working. Will work on brokers with 3 or 5 decimal places but pip based settings are always 2 or 4 decimal depending on the currency pair.

 

Expert Advisor Settings

*** Order Settings ***

MagicOrderNumber – Number to identify the EA Trades.

Lots – Lot size when MoneyManagement is set to false.

SlippagePips – Number of slippage pips allowed when placing a trade.

MoneyManagement – Enables fraction risk of account balance and profit lock.

MoneyManagementRisk – Fraction of account balance to risk per trade.

AllowNewTrades – Allows new trades.

AccountProfitLock – Fraction of account to lock profit and stop trading in the event of an excessive draw down.

 

*** Entry Settings ***

TimeFrame – Select the time frame that the EA uses to trade.

MaxSpread – Maximum spread in pips that the EA will trade.

StartTradingHour – Limit trading hours of the day, zero to disable.

StopTradingHour- Limit trading hours of the day, zero to disable.

TakeProfit – Take profit in pips, zero to disable.

BBPeriod – Bollinger band period

BBTriggerStd – Standard deviation for trigger squeeze pips

BBTriggerSqueezePips – Maximum size in pips of trigger bollinger bands to set pending orders

BBPendingOrderStd – Standard deviation for setting pending orders, should be more than BBTriggerStd

 

*** Exit Settings ***

StopLoss – The stop loss in pips.

BreakEven – Perform break even.

BreakEvenPips – Number of pips to set stop loss in profit.

BreakEvenTriggerPips – Number of pips of profit before break even is performed.

BreakEvenTimeDelaySeconds – Number of seconds to delay break even.

TrailingStopLoss – Perform trailing stop loss.

TrailingStopLossPercentage – Percentage from original stop loss to move.

TrailingStopLossPipIncrements – Increments in pips of trailing stop loss to reduce number of order modifications.

RSIExit – Exits if the RSI returns from an extreme.

RSIPeriod – The RSI period for entry and exit.

RSISensitivity – The RSI level from the extreme at which the price is considered overbought or oversold.

TrailingTimeExit – Time based trailing stop loss.

TrailingTimeAcceleration – The acceleration of the stop loss in the direction of the trade.