Discussing the article: "A Step-by-Step Guide on Trading the Break of Structure (BoS) Strategy"

 

Check out the new article: A Step-by-Step Guide on Trading the Break of Structure (BoS) Strategy.

A comprehensive guide to developing an automated trading algorithm based on the Break of Structure (BoS) strategy. Detailed information on all aspects of creating an advisor in MQL5 and testing it in MetaTrader 5 — from analyzing price support and resistance to risk management.

We are going to explore the definition, types, trading strategy applications, and development in MetaQuotes Language 5 (MQL5) for MetaTrader 5 (MT5) as we delve into the nuances of the Break of Structure. The Break of Structure notion is a useful tool for traders to learn in order to increase their ability to predict market moves, make better decisions, and eventually become proficient in risk management. Using the following subjects, we shall accomplish the above:

    1. Break of Structure (BoS) definition
    2. Break of Structure (BoS) description
    3. Types of Breaks of Structure (BoS)
    4. Trading strategy description
    5. Trading strategy blueprint
    6. Implementation in MetaQuotes Language 5 (MQL5)
    7. Strategy tester results
    8. Conclusion



    Author: Allan Munene Mutiiria

     
    Learn how to create an Expert Advisor based on the Break of Structure (BoS) forex trading strategy - a Smart Money Concept (SMC) approach. Hope you will find it enjoyable, clear, easy to understand and knowledgeable. Welcome.
     
    Allan Munene Mutiiria #:
    Learn how to create an Expert Advisor based on the Break of Structure (BoS) forex trading strategy - a Smart Money Concept (SMC) approach. Hope you will find it enjoyable, clear, easy to understand and knowledgeable. Welcome.

    Really,great thanks a lot ,useful code

     
    wupan123898 #:

    Really,great thanks a lot ,useful code

    Thank you too a lot for the kind review and feedback and welcome.

     

    Thank you for the provided code base, it is actually very good.

    With minimal changes I have adapted/changed.

    The initial result without any filter added are really impressive.


     
    Dragosh Zavadschi #:

    Thank you for the provided code base, it is actually very good.

    With minimal changes I have adapted/changed.

    The initial result without any filter added are really impressive.


    @Dragosh Zavadschi thanks for the kind feedback and review. That is very nice. Thanks.
     

    I read it diagonally.

    in the code, it caught my eye:

    void function() {

    const int localConst = 5; // 

            // some code follows

    }

    you can't do that. This is a disguise for "magic" constants

     

    Author, I don't understand you. Your screenshot, which shows the upward trend, has HH and HL levels. But the screenshot that comes next creates confusion. Look:

    So how to choose the right level to break?

     
    Vitaly Murlenko #:

    Author, I don't understand you. Your screenshot, which shows the upward trend, has HH and HL levels. But the screenshot that comes next creates confusion. Look:

    So how to choose the right level to break?

    All such strategies work (and that is not a fact) only on days.

    They do NOT work inside the day with its regular and sharp volatility spikes.

    But it is convenient to select screenshots on intraday.

     
    Maxim Kuznetsov #:

    all such strategies work (and that's not a fact) only on daytrips.

    Inside the day with its regular and sharp bursts of volatility DO NOT WORK.

    But it is convenient to select screenshots on intraday.

    The question was not about that