SQ Breakout EA V1.0

SQ Breakout EA V1.0

Introduction

The SQ Breakout EA V1.0 is an ultimate forex trading bot designed for  MetaTrader4 platforms. Its primary focus is on breakout trading strategies, aiming to capitalize on price movements after consolidation phases.

Key Features

Minimum Deposit

• Recommended: $500
• Minimum: $100
  • The higher the deposit, the better the performance.

Timeframes

• Optimal timeframes: M5 to H1 (intraday trading)
  • Adjust the timeframe based on your risk tolerance and trading preferences.

Currency Pairs

• Focus on the following pairs for optimal results:
  • GBPUSD
  • EURUSD
  • These pairs exhibit sufficient liquidity and volatility during breakout periods.

Stop Loss (SL) and Take Profit (TP)

• The EA uses predefined SL and TP levels.
  • SL: Protects against excessive losses.
  • TP: Locks in profits.

How the EA Takes Trades

1. Range Measurement:
   • SQ Breakout EA V1.0 calculates the range (high to low) during a specified period (e.g., daily or hourly).
   • This range serves as the reference for breakout levels.
2. Pending Orders:
   • The EA places pending buy and sell orders:
     • Buy Stop: Above the range high
     • Sell Stop: Below the range low
3. Trade Execution:
   • When price breaks out (either up or down), the corresponding pending order is triggered.
   • SL and TP levels are set based on the range size.
4. Next-Day Reset:
   • The EA cancels any untriggered pending orders at the end of the trading day.
   • New orders are placed for the next session.

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