High Low Breakout
- Эксперты
- Priyanka Sahu
- Версия: 1.3
- Обновлено: 8 августа 2024
The Breakout Scalper is a trading script that automates the process of placing trades based on high and low breakout points. It is developed to work on the MetaTrader platform, leveraging the MQL5 programming language. The bot is designed to identify potential breakout points and execute trades accordingly, aiming to capitalize on market momentum following significant price movements.
Key Features
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Trading Strategy:
- High-Low Breakout: The bot identifies potential breakout points by analyzing the highest and lowest prices over a specified period. It places Buy Stop orders at breakout highs and Sell Stop orders at breakout lows.
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Customization and Input Parameters:
- Trade Settings: Includes parameters for enabling/disabling buy and sell trades, setting the trading volume (lots), and defining take profit (TP) and stop loss (SL) points.
- General Settings: Allows customization of risk percentage, trading timeframe, and a unique magic number to distinguish trades made by the bot.
- Advanced Settings: Features a trailing stop mechanism to lock in profits, trigger points for the trailing stop, and new SL points.
- Trade Time Settings: Configurable trading hours and days to control when the bot is active.
- Additional Settings: Includes order distance from the current price, order expiration time, and maximum slippage and spread allowed.
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Trade Execution:
- Buy and Sell Orders: Executes Buy Stop and Sell Stop orders based on identified breakout points.
- Trailing Stop: Adjusts the stop-loss levels as the market moves in the trade's favor, securing profits.
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Utility Functions:
- Order and Position Management: Functions to count current positions and orders, ensuring the bot only places new orders if none are currently open.
- High and Low Calculation: Functions to find the highest high and lowest low prices over a specified number of bars.
- Order Validation and Deletion: Checks the validity of orders and deletes those that are no longer relevant.
- Time and Day Filters: Ensures trades are only placed within specified trading hours and days.
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Safety and Risk Management:
- Risk Control: Configurable risk percentage to limit exposure per trade.
- Slippage and Spread Control: Parameters to set maximum allowable slippage and spread, ensuring trades are executed under favorable conditions.
Usage
The Breakout Scalper is suitable for traders looking for an automated solution to trade breakouts in various markets, including forex, stocks, and commodities. It is ideal for those who prefer a systematic approach to trading, leveraging predefined rules and parameters to eliminate emotional decision-making.