Breakout of range

Key Features:

Fixed Lot Size / Martingale Option:

•    Fixed Lot Size:* The EA allows you to set a constant lot size for each trade.
•    Martingale Option:* Alternatively, you can enable the Martingale strategy, which increases the lot size after a losing trade to recover losses.

Trading Between Specific Times:

•     The EA only opens trades within a specified time range (e.g., 08:00 to 18:00). This helps avoid trading during low-liquidity periods.

Trading Days :

Take Profit and Stop Loss as Multipliers of the Range:

•     The take profit (TP) and stop loss (SL) levels are calculated based on a multiplier of the range width (distance between support and resistance).
•     For example, if the range is 50 pips and the multiplier is 2, the TP and SL would be 100 pips.

•    The EA uses an Exponential Moving Average (EMA) to filter trades in the direction of the trend.
•    Only trades in the direction of the EMA trend are taken (e.g., only long trades if the price is above the EMA).

•    A trailing stop loss option is available to protect profits.
•    The stop loss moves in the direction of the trade as the price moves favorably, locking in profits as the trade progresses.

•    The EA monitors the market to identify a price range with clear support and resistance levels.

•    The EA waits for the price to break above the resistance level or below the support level.

•    The EA checks the EMA to ensure the breakout is in the direction of the trend.

•    When a breakout is confirmed in the direction of the trend, the EA places a trade.
•    The lot size is either fixed or adjusted according to the Martingale strategy.

•    The EA sets the take profit and stop loss based on the range multiplier.

•    As the trade moves in the favorable direction, the trailing stop loss adjusts to lock in profits.