Range Breakout EA V1.35 MT4

The Range Breakout EA V1.35 MT4 is an advanced Expert Advisor designed to capitalize on market movements following specific time-based price ranges. Here’s a comprehensive overview of its features and optimal usage:

Key Features:

• Time-Based Trading: The EA identifies and trades breakouts from a defined price range established during specific time periods, typically during the Asian session.
• No Martingale or Grid Strategies: It employs a logical trading concept without relying on martingale or grid functionalities, ensuring a transparent and straightforward approach.
• Risk Management: The EA offers customizable risk settings, including fixed lot sizes, percentage of account balance, and stop-loss/take-profit levels, allowing traders to align trades with their risk tolerance.

Optimal Usage:

• Minimum Deposit: While the EA can operate with various account sizes, a minimum deposit of $500 is recommended to ensure sufficient margin and risk management.
• Time Frame: The EA is designed to function on the M15 (15-minute) time frame for live trading. This allows for precise range calculations and timely trade executions.
• Currency Pairs: The EA is versatile and can be applied to multiple currency pairs. However, it has shown optimal performance on pairs like EUR/USD and USD/JPY.

How the EA Executes Trades:

1. Range Calculation: The EA defines a price range based on the high and low prices within a specified time window, typically during the Asian session.
2. Breakout Detection: Once the range is established, the EA monitors for price movements that breach the defined range boundaries.
3. Trade Execution: Upon detecting a breakout, the EA places a pending order in the direction of the breakout, with predefined stop-loss and take-profit levels based on the current range.
4. Risk Management: The EA calculates the appropriate lot size based on the selected risk parameters, ensuring that each trade aligns with the trader’s risk tolerance.
5. Trade Closure: Trades are closed either when the take-profit or stop-loss levels are reached, or at a user-defined time to prevent holding positions beyond optimal trading hours.

For more detailed information and to download the EA, please visit our website: www.mql5.software

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Note: It’s essential to thoroughly test the EA in a demo environment before deploying it on a live account to ensure it aligns with your trading objectives and risk management preferences.

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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https://www.yoforex.org/product/range-breakout-ea-v1-35/

 

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