Range Follower
- Asesores Expertos
- Sunnykumar R Patel
- Versión: 1.7
- Activaciones: 20
This bot utilizes a proven trading concept: markets often see significant movements during active periods, particularly around the London and New York sessions. Instead of predicting market direction, the strategy sets a range during the quieter Asian session hours and trades the breakout, riding the momentum until the New York session slows down.
What Makes This EA Special?
Unlike other breakout bots, this EA includes a unique filtering system designed to improve performance by avoiding trades during unfavorable market conditions. These filters help the bot focus on higher-probability breakouts, reducing exposure to choppy or exhausted markets.
The filtering system is based on a key breakout principle used by renowned trader Andrea Unger: Breakouts tend to be stronger when they occur after a period of smaller price movements. This makes it one of the most effective breakout strategies available.
Using the 1-minute timeframe, the bot enters trades at the start of the next candle after a breakout, allowing for realistic backtesting without the need for specialized tick data.
This strategy is particularly effective in trending markets with significant intraday moves, such as XAU/USD, USD/JPY, and BTC/USD, but it can be applied to many other markets as well.
Prop Firm Ready: This EA works with both Prop Firm Challenges and Live Prop Firm Accounts.
Optimization Tips:
To achieve the best results with this EA, aim to create the range during the low-volatility hours of the Asian session. Then, set the bot to trade breakouts during the London session and close positions at the end of the New York session.
For convenience, screenshots are provided showing optimal settings for XAU/USD and USD/JPY, both optimized for GMT +3. Ensure you adjust your settings according to your local time zone to align with the recommended hours.
The last 5 months Live Results can be found in screenshot provided from "myfxbook".
Got questions about setting up the bot? Feel free to reach outI'm happy to help!
<General Inputs>
Trade Comment: A label for all trades made by the EA.
Magic Number: Unique identifier for the EA's trades. (Make sure to use a different magic number on each chart).
Range Color: Color of the price range on the chart.
Entry Timeframe: Timeframe used for trade entries (recommended M1).
Chart Comments: Enables or disables comments on the chart.
<Indicator Inputs>
ATR Period: Average True Range Period.
ADX Period: Average Directional Index Period.
<Risk Management>
Base Money: Reference account balance for calculating risk, (If choosing "0" the risk will be calculated using the Account Equity).
Risk Type: Method for calculating trade risk (Lots, underlying price percent, or percent based on stop loss distance).
Risk Percent/Lots: Amount of risk per trade (Percentage or fixed lots).
Stop Loss Type: Method for setting stop loss (Daily ATR value, underlying price percent, or range-based stop loss).
Stop Loss Multiplier: Sets the stop loss distance based on a percentage of the underlying price or ATR.
Allow Buy Trades: Allows buy trades to be entered by the EA.
Allow Sell Trades: Allows sell trades to be entered by the EA.
Allow 2 Trades Per Day: Enables up to two trades per day (if enabled, one buy and one sell trade are allowed; if disabled, only one trade is allowed).
<Trailing Stop Loss>
Trailing Stop Loss: Adjusts with price, locking profits based on a percentage of the market price.
Trailing Stop Trigger (%): The price must move this percentage in your favor to activate the trailing stop.
Trailing Stop Size (%): The distance the stop follows the price, set as a market price percentage.<Range Start/End Time>
Range Start Hour: Hour when the EA starts identifying the price range.
Range Start Min: Minute when the EA starts identifying the price range.
Range End Hour: Hour when the EA stops identifying the price range.
Range End Min: Minute when the EA stops identifying the price range.
<Trading Session End Time>
Trading Session End Hour: Hour when no more trades will be entered for the day.
Trading Session End Minute: Minute when no more trades will be entered for the day.
<Trade Close Time>
Trade Close Hour: Hour when open trade is closed.
Trade Close Minute: Minute when open trades is closed.
<Day Of The Week Filter>
First Trading Day Of The Week: Sets the first day to allow trades, starting from 1 (Monday) through 5 (Friday). For crypto, 6 is Saturday, and 0 is Sunday.
Last Trading Day Of The Week: Sets the final day to allow trades, with 5 being Friday. For crypto, 6 is Saturday, and 0 is Sunday.
<Breakout Range Filter>
Range Filter: Blocks trades if the current days breakout range is too large or small.
Range Filter Min Size: Minimum range size compared to the underlying price in percent.
Range Filter Max Size: Maximum range size compared to the underlying price in percent.
<Yesterday Range Filter>
Yesterday Daily Range Filter: Blocks trades if yesterday's total range is too large or small.
Yesterday Daily Range Filter Min Size: Minimum size of yesterdays total range compared to the underlying price in percent.
Yesterday Daily Range Filter Max Size: Maximum size of yesterdays total range compared to the underlying price in percent.
<Previous Day ATR Filter>
Daily ATR Filter: Prevents trading if yesterday's total range is larger or smaller than the daily ATR.
Daily ATR Filter Min Size: The minimum allowed range for the previous day is the daily ATR multiplied by this value.
Daily ATR Filter Max Size: The maximum allowed range for the previous day is the daily ATR multiplied by this value.
<ADX Filter>
ADX Filter: Enables or disables the filter to assess trend strength using the Average Directional Index (ADX).
ADX Filter Min Value: Trades are only allowed if the ADX value is greater than this value.
ADX Filter Max Value: Trades are only allowed if the ADX value is less than this value.
