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Range Breaout EA

Product Name: RangeBreakout EA MT4

Description: Welcome to the future of automated trading with the RangeBreakout EA for MetaTrader 4. This expert advisor is meticulously crafted to capitalize on price movements within specified time zones, utilizing advanced breakout strategies. Whether you are a seasoned trader or a newcomer, the RangeBreakout EA empowers you with a range of customizable settings and robust features for a seamless trading experience.

    Zone 1 Settings:

    • Zone Enable (ZONE1_ENABLE): Activate or deactivate Zone 1, a pivotal time zone for breakout trading.

    • Zone Timeframe (ZONE1_TIMEFRAME): Define the timeframe for Zone 1, aligning with your trading strategy.

    • Zone Start and End Time (ZONE1_START_TIME_HOUR, ZONE1_START_TIME_MINUTE, ZONE1_END_TIME_HOUR, ZONE1_END_TIME_MINUTE): Set the specific hours and minutes for the start and end of Zone 1, capturing crucial price movements.

    • Draw Lines (ZONE1_DRAW_LINES): Visually represent Zone 1 on your charts, aiding in analysis and decision-making.

    For detailed documentation Overall Settings/Input Guide 

    High Level Overview of Features

    Category Setting Description
    GENERAL SETTINGS Lot Size Initial volume for the first trade; subsequent features don't alter it.
    Stoploss in Pips Initial stop loss; adjustable by EA features.
    Take Profit in Pips Initial take profit; modifiable by EA features.
    Trade Comment Specifies trade comments for source identification.
    Capture Logs Enables troubleshooting logs.
    Enable Magic Number Controls EA behaviour based on a unique identifier.
    Magic Number Unique EA identifier for conditional checks.
    Trade On New Bar Places trades at the start of the candle.
    No New Entry If Trade Exists Determines new entry conditions with or without an active trade.
    Number Of Orders Controls executed trades upon entry signals.
    Trade Direction Specifies buy, sell, or both signals.
    Risk Reward Ratio Sets take profit based on stop loss and a specified ratio.
    Next Open Trade After X Seconds Introduces a time gap between multiple entry signals.
    Check for Opposite Close Closes previous trend signal before placing a new one.
    Delete Pending Order at Distance Auto-removes pending orders at a specified distance.
    Delete Pending Order After X Seconds Auto-deletes untriggered pending orders.
    Delete Pending Order After N Bars Auto-removes untriggered pending orders after specified candles.
    Profit Amount Closes trade at a set profit amount or set take profit.
    Loss Amount Closes trade at a set loss amount or set stop loss.
    Profit Percent Closes trade at a set percent profit of account equity or set take profit.
    Loss Percent Closes trade at a set percent loss of account equity or set stop loss.
    Close After N Candle Closes trade after a specified number of candles from opening.
    BREAKEVEN SETTINGS Enable Breakeven Boolean input to enable (true) or disable (false) breakeven functionality.
    Breakeven Activation Numeric input setting the distance in pips from entry for breakeven activation.
    Breakeven Extra Pips Numeric input defining extra pips beyond activation for setting stop-loss, covering costs and slippage.
    TRAILING STOP SETTINGS Use Trailing Stop Boolean input to enable (true) or disable (false) trailing stop functionality.
    Activate Numeric input setting distance in pips from entry for triggering trailing stop activation.
    Trail Price By Numeric input defining trailing stop distance behind the current market price.
    Increment By Numeric input specifying the increment by which trailing stop distance increases with favourable market movement.
    MARTINGALE SETTINGS Enable/Disable Martingale Boolean input to enable (true) or disable (false) Martingale strategy.
    Multiplier Numeric input determining the size multiplier for subsequent trades if Martingale is enabled.
    Multiply After N Repeat Integer input setting the number of consecutive losing trades before applying the Martingale multiplier.
    Max Step Integer input defining the maximum number of Martingale steps to limit consecutive increasing trade sizes.
    Adjust Take Profit Boolean input to adjust (true) or not adjust (false) take profit based on Martingale steps.
    GRID SETTINGS Enable/Disable Grid Boolean input to enable (true) or disable (false) GRID strategy.
    Step Distance Integer input for the distance in pips between each grid level.
    Lot Increase Mode Enumeration input for lot size increase mode: GRID_MULTIPLY or GRID_INCREMENT.
    Execution Mode Numeration input for execution mode: GRID_MARKET (market orders) or GRID_PENDING (pending orders).
    Increase Factor Numeric input for the factor by which lot size is increased for each new grid level.
    Distance Multiplier Numeric input for the multiplier applied to the grid distance for each new grid level.
    Increase After N Repeat Integer input for the number of repeats before applying the grid increase factor.
    Max Grid Step Integer input for the maximum number of grid steps before resetting to the initial lot size.
    Grid Activation Mode Enumeration input for when the grid should be activated: GRID_ON_LOSS or GRID_ON_PROFIT.
    SL and TP Mode Enumeration input for stop-loss and take-profit mode: FIXED AMOUNT, EQUITY PERCENT, or COST_AVERAGE.
    Grid Fixed Stoploss Sets a fixed stop-loss for combined loss of all trades when SL and TP mode is FIXED AMOUNT.
    Grid Fixed Takeprofit Sets a fixed take-profit for combined profit of all trades when SL and TP mode is FIXED AMOUNT.
    Grid Equity Pct Stoploss Sets an equity percentage stop-loss for combined loss of all trades when SL and TP mode is EQUITY PERCENT.
    Grid Equity Pct Takeprofit Sets an equity percentage take-profit for combined profit of all trades when SL and TP mode is EQUITY PERCENT.
    AVERAGE_MODE Enumeration input for averaging orders mode: Sum (Price x Lot)/Sum(Lots) or Sum(Price)/ Sum(Orders).
    AVG STOPLOSS Sets stop-loss based on the average price of all trades when SL and TP mode is COST_AVERAGE.
    AVG TAKEPROFIT Sets take-profit based on the average price of all trades when SL and TP mode is COST_AVERAGE.
    Hedge Settings Indicates the start of the hedge settings section.
    Enable Hedge Enables or disables the hedge; currently set to true.

    		Hedge Distance Specifies the hedge distance as 10.
    Hedge Lot Increase Mode Determines how the lot size is increased in the hedge; currently set to MULTIPLY (1).

    		Hedge Increase Factor Sets the increase factor for the hedge as 2.

    		Max Hedge Step Sets the maximum hedge step as 9999.

    		Hedge Execution Mode Specifies the execution mode for the hedge; currently set to PENDING (2).

    		Hedge SL/TP Mode Specifies the stop loss and take profit mode for the hedge; currently set to FIXED_AMOUNT (1).
    Hedge Fixed Stop Loss Sets the fixed stop loss for the hedge; currently set to 0 (disabled).

    		Hedge Fixed Take Profit Sets the fixed take profit for the hedge as 2.

    		Hedge Equity % Stop Loss Sets the equity percentage stop loss for the hedge as 10.

    		Hedge Equity % Take Profit Sets the equity percentage take profit for the hedge as 2.
    RISK SETTINGS Enable Risk to Lot Boolean input for enabling (true) or disabling (false) Risk to Lot functionality.
    Risk Percent Numeric input defining the risk percentage per trade based on the account balance.
    Risk Pips Per MicroLot / Stoploss Numeric input determining the risk in pips per micro lot or stop-loss. It aligns with the STOPLOSS pips input for virtual stop-loss calculation.
    POSITION SIZING SETTINGS Enable Position Sizing Boolean input for enabling (true) or disabling (false) Position Sizing functionality.
    Increase Lot Numeric input defining the additional lot size for each trade when Position Sizing is enabled.
    Increase Lot on Account Balance Numeric input specifying the account balance value triggering lot size adjustment. When the balance reaches or exceeds this value, the lot size is adjusted accordingly.
    ALERT SETTINGS Allow Alert Boolean input allowing (true) or disallowing (false) the EA to trigger alerts on new entry.
    Allow Notification Boolean input enabling (true) or disabling (false) the EA to send notifications (e.g., push notifications on mobile devices) on new entry.
    Allow Email Boolean input permitting (true) or restricting (false) the EA to send email notifications on new entry.
    TRADE TIME SETTINGS Use Trading Times Boolean input for determining if the EA should follow specified trading times (true) or trade 24/7 (false).
    Enable Asian Session Boolean input to enable (true) or disable (false) trading during the Asian session.
    Start Time Asian and End Time Asian String inputs specifying the start and end times of the Asian session in broker time.
    Enable European Session Boolean input to enable (true) or disable (false) trading during the European session.
    Start Time European and End Time European String inputs specifying the start and end times of the European session in broker time.
    Enable American Session Boolean input to enable (true) or disable (false) trading during the American session.
    Start Time American and End Time American String inputs specifying the start and end times of the American session in broker time.
    Enable Other Session Boolean input to enable (true) or disable (false) trading during another specified session.
    Start Time and End Time String inputs specifying the start and end times of the specified session in broker time.
    TRADING DAY SETTINGS Monday Trade, Tuesday Trade, Wednesday Trade, Thursday Trade, Friday Trade Boolean inputs allowing (true) or disallowing (false) trading on each respective day of the week (Monday through Friday).
    Saturday Trade and Sunday Trade Boolean inputs allowing (true) or disallowing (false) trading on Saturday and Sunday, respectively.
    SAFEGUARD SETTINGS Slippage Maximum allowed slippage in pips for trade execution.
    Maximum Open Trades Maximum number of open trades allowed; set to 0 to disable.
    Maximum Long Trades and Maximum Short Trades Maximum number of long and short trades allowed; set to 0 to disable.
    Maximum Pending Orders Maximum number of pending orders allowed; set to 0 to disable.
    Maximum Long Pending Orders and Maximum Short Pending Orders Maximum number of long and short pending orders allowed; set to 0 to disable.
    Max Drawdown Percent Maximum acceptable drawdown as a percentage of the account balance; set to 0 to disable.
    Max Drawdown Amount Maximum acceptable drawdown as an absolute amount; set to 0 to disable.
    Maximum Trades Per Day Maximum number of trades allowed per day; set to 0 to disable.
    Maximum Losing Per Trade Maximum number of losing trades allowed per day; set to 0 to disable.
    Daily Stop Maximum acceptable drawdown for a single trading day; closes all positions and halts trading if exceeded.
    Daily Target Target profit to achieve within a single trading day; closes all positions and stops trading if reached.
    Weekly Stop Maximum acceptable drawdown for a trading week; closes all positions and ceases trading if exceeded.
    Weekly Target Target profit to achieve within a trading week; closes all positions and stops trading if reached.
    Monthly Stop Maximum acceptable drawdown for a trading month; closes all positions and ceases trading if exceeded.
    Monthly Target Target profit to achieve within a trading month; closes all positions and stops trading if reached.
    DISPLAY SETTINGS Panel Width Pct Width of the panel as a percentage of the dashboard window.
    Panel Height Pct Height of the panel as a percentage of the dashboard window.
    Text Size Pct Size of text within the panel as a percentage; influences readability and presentation.
    Title Colour Colour of the title text within the panel for visual distinction.
    Label Colour Colour of labels or descriptive text within the panel for differentiation.
    Value Colour Colour of numerical values or data within the panel for clarity and emphasis.


    Usage Recommendations:

    Prior to deploying in live markets, thorough testing in a demo account is strongly advised. This ensures a comprehensive evaluation of the EA's performance, its alignment with your trading strategy, and an assessment of risk tolerance levels.


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