BreakOut15 – expert for MetaTrader 5

Idea by: Scriptor.

MQL5 code by: Vladimir Karputov.

The EA only operates when a new bar appears on timeframe Working timeframe. Indicators are also taken from timeframe Working timeframe. The EA itself must only be used on timeframe M1!

As soon as a signal appears to open BUY or SELL, a price level will be defined. As soon as the price crosses this price level, a new position will be opened.

  • Signal to open BUY: MA Fast on bar #0 > MA Slow on bar #0;
  • Signal to open SELL: MA Fast on bar #0 < MA Slow on bar #0.

When defining a signal, the working time range is re-checked (if only Start Hour and Stop Hour are not equal to “-1”).

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Positions are closed by the opposite signal. If parameter Friday Close Hour is not equal to “-1”, your positions will be closed forcedly at Friday Close Hour on Friday.

Inputs

  • Working timeframe – timeframe to calculate the indicators;
  • Stop Loss – stop loss (“0” disables the parameter);
  • Take Profit – take profit (“0” disables the parameter);
  • Trailing Stop – trailing (“0” disables the parameter);
  • Trailing Step – trailing step.
  • Start Hour – starting the time range (hours); “-1” disables BOTH parameters: Start Hour and Stop Hour;
  • Stop Hour – ending the time range (hours), “-1” disables BOTH parameters: Start Hour and Stop Hour;
  • Friday Close Hour – closing on Friday (hours), “-1” disables the parameter;
  • BreakOut Level – break-out level;
  • Lots – lot size is constant, parameter Risk having to be equal to “0”;
  • Risk – lot size is dynamic, in risk percents per trade, parameter Lots having to be equal to “0”;
  • magic number – unique identifier for the EA.
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