Full Auto Breakout Expert Advisor

Features

Breakout Strategy: Utilizes a time-based breakout strategy to identify key price levels for trade entries.

Multi-Level Take Profit: Implements three levels of take profit targets to secure profits incrementally.

Risk Management: Features adjustable stop loss levels and dynamic risk percentage based on account balance to maintain optimal risk-reward ratios.

Automatic Range Detection: Automatically calculates entry points based on high and low prices levels within a specific time range.

Functionality

Time Range Detection: Specify a time range (down to the minute) at T-1 to identify entry and exit points at T0.

Entry Points Calculation:

• Buy Entry: Set at the high of the detected range plus a configurable gap.

• Sell Entry: Set at the low of the detected range minus the gap.

Trade Execution:

• Opens trades when the current price crosses the calculated entry points.

• Sets stop loss and multiple trade profit levels to manage trades dynamically.

Risk Management:

• Risk Percentage: Adjusts the %amount of your balance to risk on a trade.

• Configurable stop loss and take profit levels.

Optimization

Time Range Parameters:

• Range Start Hour and Minute: Defines the start of the time range for detecting breakouts. Optimal values can vary based on market session overlaps and volatility.

• Range End Hour and Minute: Defines the end of the time range. Ensuring this period captures significant market movements is crucial for effective breakout detection.

Entry and Exit Parameters:

• Range Gap (pips): The distance in pips from the detected range high/low to the actual entry point. Adjusting this gap can help filter out false breakouts and improve entry accuracy.

• Stop Loss (pips): The distance in pips for the stop loss. This should be optimized to protect against excessive losses while avoiding getting stopped out due to noise.

• Take Profit (pips): The distance in pips for the three take profit levels. These should be set to balance securing profits and allowing trades to run their course.

Risk Percentage: Maximising this to find the right balance essential to maximizing growth. This is important as losses accumulate exponentially but so do profitable trades.

Code Snippets

Time period detection functions

OnTick function

Key Takeaways

This Expert Advisor leverages a time-based breakout strategy combined with advanced risk management and multi-level take profit targets to maximize trading opportunities and manage risk effectively.

Automating the detection of breakout levels and systematically manging trades are great strategies to enhance trading performance and ensure consistent profitability.

For more information or to discuss your project, shoot me a message on Upwork!