Breakouts Master is a fully automated system that is designed to help traders identify and try to take advantage of important price levels in the financial markets. It utilizes a time-tested strategy that has been adapted to modern trading conditions and is still used by professional traders. One of the main advantages of Breakouts Master is that it employs price action to determine these levels, which is more reliable than using lagging indicators. As an Expert Advisor, it is fully automated and works 24 hours a day, allowing traders to try and take advantage of potential opportunities even when they are not actively monitoring the markets.
Breakouts Master EA Strategy
The Breakouts Master EA uses the following indicators:
- ATR (Average True Range): This is used to determine the potential opportunities.
- ATR, or Average True Range, is a technical analysis indicator that measures the volatility of an asset by analyzing the price range of an asset over a given period.
The entry logic for this EA is based on the following conditions:
- If the closing price of the previous day exceeds the high price for the period set by the parameter (breakout period), a buy order will be placed (the sell order is the opposite).
- For example, if the breakout period is set to 30, a buy order will be placed if the previous day’s closing price exceeds the high price in the past 30 days from the previous day.
- This entry logic is only confirmed when a new candlestick is created, and a new position will not be entered if there is already an open position by the EA.
The exit logic for this EA involves using take profit and stop loss:
- The EA will close a position when either the take profit or stop loss is reached.
- Additionally, traders can set their own take profit levels and use ATR stop loss to further customize the exit strategy.
Breakouts Master EA Features
- Does not use dangerous martingale or grid strategies.
- Has a fixed stop loss that allows traders to control the maximum level of risk per trade.
- Take profit is greater than stop loss to ensure that potential opportunities are several times higher than potential drawdowns.
- Does not use indicators prone to lagging and redrawing; instead, it employs price action for market analysis.
- Offers automatic reinvestment of achieved opportunities for further trading.
- Is fully automated.
- Uses a time-tested strategy of technical analysis for breaking out of price levels, adapted to modern market conditions.
Breakouts Master EA Settings
- Currency USDJPY
- Dashboard false
- GMT Offset Winter 2
- GMT Offset Summer 3
- Spread Control 30
- Spread Control Timing 60
- FixedLotSize 01
- AutoMoneyManagement 01
- TakeProfit 2000
- StopLoss 0
- SL_ATRPeriod 48
- SL_ATRCoeff 6
- SL_Max 160
- TrallingStart 50
- TrallingStep 50
- TrallingStop 350
- StartReduction TrallingStop 700
- Reduction TrallingStop 150
- CandlesForLevel 20
- Items -10
- StartHour 1
- StartMinute 10
- EndHour 16
- EndMinute 0
- CloseHour 20
- AdditionalOrders true
- AdditionalOrdersltems 140
- AdditionalOrdersNumber 6
- Delete Opposite Orders false
- MagicNumber 999
- ExpertComment Breakouts_Master
Breakouts Master EA Summary
Overall, the breakout master EA is a valuable tool for traders who want to automate their trading strategy. While the breakout strategy may seem simple, it can be difficult to execute effectively without the aid of an expert advisor. By using a demo account, traders can test the EA’s performance in a risk-free environment before using it with real money. The unique approach of this breakout strategy makes it stand out from common strategies, and therefore it is worth trying out to potentially increase profitability in trading.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
