Candle Breakout EA works once per bar; it works with the previous candle's low and high prices. It simply opens a buy trade if the current price breaks the previous candle's high price; it opens a sell trade if the current price breaks the previous candle's low price. There is an option to reverse buy and sell signals. This EA works continuously; you can use a time filter to reduce working hours. For example, 12:00–22:00 EA uses current timeframe data, so if you put this on the H4 chart, it works with H4 candles; if you put this on the M30 chart, it works with M30 candles. The strategy is quite simple, but it draws a lot of attention from the traders. Practice shows us that the simple things work the best. Possibly, it will be very profitable if the price keeps going down and down or keeps going up and up. Trailing stop or breakeven may help reduce losses and save as much profit as possible.
Explanation of the settings:
Fixed lot - simple fixed lot which is applied for each trade.
Min total candle size pips - it checks the previous candle's total size, using this filter you can avoid very small candles
Max total candle size pips - it checks the previous candle's total size, using this filter you can avoid very big candles
Max open trade - set max allowed amount of open trades.
Close trade opposite signal - true/false, set it as true if you want to close trades on the opposite signal.
Stop loss pips - set a stop loss in pips which will be used for each trade separately.
Take profit pips - set a take profit in pips which will be used for each trade separately.
Break even
Pips on profit to enable - once reached, break even is applied.
Offset pips from open price - the distance from the open, in this way you can avoid spread size by adding extra 2 pips for example.
Trailing stop
Trailing start pips - once the trade has this amount of profit, trailing stop is activated.
Trailing stop pips - trailing stop distance from the stop loss to the current price.
One trailing step - it's basically how often do you want to refresh the trailing stop.
Trading time settings - that's simple, simply choose time and weekdays you want to trade.
BUY SELL reversed - set it to true if you want to open buy trade instead of the sell trade and sell trade instead of the buy trade
Spread filter - set max allowed spread size in pips, EA checks it before opening the trade. If the spread size is too big = no trade.
Magic number - use magic number rule if this EA is used in more than 1 chart. Read more.
Download the DEMO version of the Candle Breakout EA MT5 and try it in the strategy tester, before purchasing this forex trading robot MT5.
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Price £: 125
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Premium long-term support: We're available 24/7. Any issues are always solved.
Activations: Unlimited accounts. You have a lifetime license with free future updates.
Compatibility: Our EAs can be used with any symbol and timeframe.
Custom updates: Yes, we can offer any custom updates for our original EAs, so you can adapt the EA to your specific needs. We're very versatile.
EA has the most used features; we don't want to add too much stuff to the original EA. So we offer custom updates for any of our EAs. You can easily order a custom update and adapt this EA to your specific needs. Contact us, and we will add some basic features for free after your purchase.
If you have any questions simply contact us and we will answer all your questions.
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