Pound Breakout MT5

Pound Breakout MT5

is an Expert Advisor for GBPUSD that trades breakouts from a parallel sideways channel and offers impressive additional trading features.

The underlying and widely used strategy: After the European markets open, place a pair of pending stop orders above and below the high and low of a multi-hour period, expecting an upper or lower breakout during the day.

The onscreen panel provides a detailed overview of the system and market status. It also includes buttons for active traders to manually place additional sessions and/or market orders at any time. This allows them to take advantage of further promising trading opportunities during daily market movements or to manually add orders.

Unlike Martingale or Grid strategies, Pound Breakout MT5 does not use such strategies and protects orders with fixed stop-loss limits. Profits are realized through virtual profit trailing and start at the preset "Profit Trail Activation" level or higher when the indicator-controlled (ATR) value exceeds the preset value.

Pound Breakout MT5 is spread- and delay-sensitive. Therefore, we strongly recommend using hedge ECN accounts such as "RAW", "Razor," and others with reliable brokers such as IC Markets, FP Markets, Tickmill, etc. However, standard accounts are not recommended due to their typically high spreads!

The integrated news reader/trader provides quick chart information on current news events and allows you to set up trading breaks before news with high market impact. This feature is highly recommended, as breakout strategies can sometimes fail if the broker does not execute the order at the specified price or if spreads become very wide due to extremely high demand. This is especially true for interest rate decisions and the release of nonfarm payrolls (NFP). For continuous operation, the Expert Advisor should also be installed on a VPS with low-latency locations, such as New York or London.

Installation takes place on the GBPUSD chart. The selected timeframe is irrelevant and can be changed at any time during the Expert Advisor's operation without affecting its performance. It also only considers trades with the same magic number and symbol. Manually entered trades should therefore be entered using the "BUY"/"SELL" buttons if they are to be included in the Expert Advisor's profit/loss calculation.

The session opens at GMT time and does not need to be adjusted. All other trading time settings are taken from the broker account's server time. For clarity, the GMT hour is displayed next to the server time in the onscreen panel.

Channel: https://www.mql5.com/en/channels/01be7ce9c7a4db01

Feature Overview

 Trading the GBP/USD currency pair

 Works in any timeframe

 Open trades continue to run smoothly after a server restart/error or expert update

 Adding additional order sessions manually at any time

 All orders with fixed stop loss

 Optional recovery by multiplying the session pattern

 Virtual trailing stop and trailing take profit

 Protection against large slippage and wide spreads

 Protection against fake breakouts

 Money management including automatic volume adjustment

 Button to display the news calendar

 News-filtered trading pause

 Automatic/manual GMT adjustment

 Freely movable screen panel in the chart including show/hide

Buttons in the screen menu for:

 Manually placing a new stop order session

 Manually placing additional market orders

 Placing buy/sell market orders

 Closing all market orders and/or pending orders

 Showing/hiding the news/event calendar

 Showing/hiding the on-screen menu by clicking the heading icon

 Moving the menu to the desired position on the chart

 Closing the Expert Advisor panel

>>> Detailed setup and installation instructions: https://www.mql5.com/en/blogs/post/761355

>>> Tips for choosing the right broker and VPS provider: https://www.mql5.com/en/blogs/post/761471