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Trendline Breakouts

5

Trendline Breakouts is a semi-automatic expert advisor, which means you only need to draw the support and resistance lines, and then let the expert advisor handle the trading for you.

You can use this expert for every market and time frame. Backtesting is not available because this is a semi-automatic EA. You draw the trendlines and let the expert trade for you.

This expert enables you to automatically trade breakouts of both horizontal support and resistance and trendlines, unlike the traditional approach of using pending orders.

A Gift included in this expert  : Range Breakout strategy that identify daily support and resistance levels and initiating both Long and Short trades automaticly at these key points.

Link for the MT4 version : https://www.mql5.com/en/market/product/108795

How it's work?

This expert is looking for a trendline or a horizontal line on the chart.

When the Price crosses above the Upper Trendline (Resistance), a buy order will be opened.

When the Price crosses below the Lower Trendline (Support), a sell order will be opened.

Notes :

  • Resistance is the upper or the highest trendline found in the chart.
  • Support is the lower trendline found in the chart.
  • If only one trendline is found, it is identified as both upper and lower trendline.
  • Remove any unnecessary trendlines and horizontal lines to prevent the expert from executing trades based on outdated lines. 
<General Inputs>

Resistance Break : The Price crosses above the Upper Trendline (Resistance), a buy order will be opened.

Support Break :  The Price crosses below the Lower Trendline (Support), a sell order will be opened.

Range Breakout : Price break  the  support or the resistance level  (no need to activate this option).

Time Interval : Number of hours befor "Time end" to identifier High and Low of the range this is a sensitivity of the high and low algorithm for the first ansd second range (smaller value = less highs and lows, greater value = more highs and lows).

Time end :  End of the time to identify the high and low values for the range.

Trail Stop :  The Trailing Stop will be trailed in this set distance behind the current market price.

Trail Step : The SL will only be modified if it is at least this distance above the previous SL.

Daily Drawdown : Profit /Loss Today , if your account incurs a loss of $50, the expert will automatically disable trading until the following day.

Trade Size: Lot size for each trade if the fixed trading volume mode is chosen.

Max Open Trades : Maximum simultaneous open trades.

Time and Day Filter: Activates or deactivates the time filter which will be checked before new orders are placed.

Magic Number: This number should be unique for every EA in your account since the EAs use it to identify their own trades.

Allow Hedging : Chek if you want to sell when a long position long is open, and vice versa.

Audible_Alerts : Alerts for every order "buy or sell".

Push_Notifcations : Notifications for mobile terminals.

Comentarios 1
Birds_eye
307
Birds_eye 2024.04.25 20:27 
 

User-friendly and easy to set up.

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Birds_eye
307
Birds_eye 2024.04.25 20:27 
 

User-friendly and easy to set up.

Abdeljalil El Kedmiri
1436
Respuesta del desarrollador Abdeljalil El Kedmiri 2024.04.26 02:18
Thank you for your honest review.
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