The Forex Market Breakout EA for Metatrader 4 is an automated trading software that is designed to catch precise market price breakouts.
It works for both buy and sell market breakouts.
This trading robot uses sound money management techniques, thereby providing a buffer from the randomness of the Forex market.
The expert advisor makes provision for the selection of one or more Forex pairs.
It proceeds to calculate key support and resistance values in relation to the price for every symbol and enters incremental orders.
All these actions are carried out unaided without the traders’ interference.
Upon attaining global profit, the Breakout EA tries to trail the profit and then captures the green.
It incorporates a smart money management technique that avoid open positions if the available margin is rather small
It also ensures that account equity is safeguarded if the loss is higher.
This market breakout EA made $1504.96 profit on the EUR/USD pair 15-minute chart from an initial deposit of $10000.
Feel free to tryout the robot on any major Forex pair of your preference (EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD…) along with minor pairs like EURGBP, EURAUD, GBPJPY, CHFJPY, NZDJPY, GBPCAD, etc.
Default EA settings:
Symbols: “EURUSD,EURGBP,EURJPY,CHFJPY,GBPUSD,GBPJPY,GBPCHF, GBPAUD,USDCAD,USDCHF,USDJPY,AUDNZD,AUDUSD,NZDUSD”, MagicNumber: 3939, xFactor: 1.8, TimeSet: “07:32”, RiskPercent: 5, RiskPerTrade: 10, MaxAllowedOrders: 15, MaxOpenHours: 0, ProfitCheckPeriod: 3, Aggressive: false, UsePivots: true, FastPeriod: 18,
SlowPeriod: 60, Selectivity: 14, Lots: 0.01, Slippage: 3, ECN: true, MarginPercent: 20, StopLoss: 0, TrailStart: 20, TrailingAmount: 3, TakeProfit: 20, AllOrders: true, AllSymbols: true, LogToFile: false, InitResetOrders: true, StartHour: 0, EndHour: 24, CloseAllNow: false, FridayCloseTime: 0.
The default EA settings can be modified directly by editing the source code or changing the Forex robot’s input values.
It’s highly advised to test the Forex Market Breakout EA for MT4 on a demo account first before running it on a live trading account.
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Strategy Tester Performance Report
Find below the strategy tester performance report for the Forex Market Breakout EA attached to the EUR/USD 15-Minute trading chart.
Strategy Tester Performance Highlights
The expert advisor made a total profit of $1504.96 ($10000 initial deposit) from 35 trades during the initial testing period.
The largest winning trade generated $589.82 in profit, while the largest losing trade lost -$158.34.
See the test results report above for all details.
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Adjustable Parameters & Inputs
Symbols, MagicNumber, xFactor, TimeSet, RiskPercent, RiskPerTrade, MaxAllowedOrders, MaxOpenHours, ProfitCheckPeriod, Aggressive, UsePivots, FastPeriod, SlowPeriod, Selectivity, Lots, Slippage, ECN, MarginPercent, StopLoss, TrailStart, TrailingAmount, TakeProfit, AllOrders, AllSymbols, LogToFile, InitResetOrders, StartHour, EndHour, CloseAllNow, FridayCloseTime.
More Info About This Expert Advisor
Recommended Currency pairs: Majors & Minors
Trading Platform: Metatrader 4 (MT4)
Time frames: M15, M30, H1
Expert Advisor Type: Intraday
Copy and paste the expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.