Breakout Lookback Bars
- Experts
- Yeoh Kia Gee
- 버전: 1.0
- 활성화: 5
Breakout Lookback Bars EA
1. OVERVIEW
Breakout Lookback Bars EA is a specialized trading algorithm designed to identify and trade price breakouts based on historical high and low levels over a defined period (LookbackBars). The EA ensures systematic trade entries using a FloatingPips mechanism, which helps optimize trade placement and risk management.
2. Trading Strategy
- The EA detects breakout levels by analyzing the highest and lowest price over a defined period (LookbackBars).
- A Buy trade is placed when the price breaks above the resistance level. A Sell trade is placed when the price breaks below the support level.
- Additional trades are opened based on the FloatingPips condition.
- The EA continues placing trades until the MaxTrades limit is reached.
3. Best Timeframes for Breakout EA
- H1 (1 Hour):Best for intraday breakout trading
- H4 (4 Hours):Ideal for swing trading
- M30 (30 Minutes):Good for more frequent trades while maintaining some structure
- Timeframes to Avoid:M1& M5 and D1
- Use on highly liquid currency pairs like EUR/USD, GBP/USD, USD/JPY.
4. Risk Management
- Appropriate Lot Sizing: Ensures account balance sustainability.
- MaxTrades Restriction: Prevents overexposure by capping open positions.
- False Breakout Prevention: Utilizing higher timeframes (H1 or H4) helps filter out noise and improve trade accuracy.