Break Out

The Expert Advisor is based on breakout strategy using H4 bars.

For each new H4 bar, new pending BUY_STOP and SELL_STOP orders are sent. If an order is executed, it is watched by trailing stop functions.

Some special time and price filters are applied to eliminate critical times.

Intro

• Timeframe: H4
• Pair: EURUSD, USDJPY
• Trade Style: Breakout strategy on H4 bars using trailing stops

Parameters

• StopLoss: Stop loss value for each order. Default: 75 points
• TakeProfit: Target points for each order. Default: 750 points
• Risk: Defines leverage used for each order. Default: x50
• UseTrailStop: Forces EA using trailing stops. Default: True
• TrailStart: Trailing stops starts at this level. Default: 35 points
• TrailGap: Trailing gap. Default: 10 points
• TrailStep: Step of trailing stop. Default: 10 points
• RuHourBack: If your MT4 terminal hour is back from original metaQuotes MT4 hour, use this parameter. Example: if your MT4 terminal hour is back 1 hour from MQ MT4, you should set RuHourBack=1 (the EA avoids to trade at some critical hours).

Technical Details

• Broker Selection: Five-digit ECN brokers with minimal EURUSD spreads should be preferred. Since this EA exits using stop loss, you will need a fluent execution, better if your stop loss order exists in market depth.
• Testing: You can test this EA using H4 every tick mode.

Unique Properties

• Awareness of critical times: Dynamically decides critical times and exits from the market.