PROJECT 903 V1.11 EA MT4: A Scalping Breakout Strategy
Overview
The PROJECT 903 V1.11 EA is an Expert Advisor (EA) designed for MetaTrader 4 (MT4). It follows a scalping breakout strategy, aiming to capitalize on breakouts from relative highs and lows in the market. Below are the key details:
- Strategy: Scalping breakout
- Entry Method: Stop orders for fast execution
- Profit Management: Adjustable trailing stop
- Risk Management: No martingale or grid functionalities
- Recommended Broker: Trade with a low spread and commission broker due to small average profits
Trading Settings
- Timeframe: The EA uses a specified candle timeframe to identify highs and lows.
- BarsN: Determines the sensitivity of the high and low algorithm (smaller value = more highs and lows, greater value = fewer highs and lows).
- Trading Volume:
- Fixed Lots: Set lot size for each trade (if fixed trading volume mode is chosen).
- Risk Percentage of Balance: Calculates lot size based on a percentage of your account balance.
- Take Profit (TP): Distance from entry order price to TP.
- Stop Loss (SL): Distance from entry order price to SL.
- Trailing Stop (TSL):
- TSL Trigger Points: Activates trailing stop when a trade is more than this distance in profit.
- TSL Points: Trailing stop trails behind the current market price by this set distance.
- TSL Step Points: SL modification occurs if it is at least this distance above the previous SL.
Time Filter
- Time Filter: Activates or deactivates the time filter.
- Trading Hours: Specify the allowed trading time window.
Drawdown Settings
- Drawdown Monitoring: Closes all trades if the drawdown is reached.
- Max Daily Drawdown %: Triggered if equity or balance falls below this percentage of the starting balance for the day.
Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀
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Additional Resources:
Instant Download: https://www.mql5.software/product/project-903-v1-11-ea/
Contact: https://t.me/mql5software
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