In this post I will be reviewing the Happy Breakout expert advisor (EA) that has been developed to run in the ever popular MetaTrader 4 (MT4) trading platform. For those of you who may be unfamiliar with the terminology, EA is the term used by MT4 to describe what is more commonly known as a forex robot.
Due to the automated nature of EA’s, they can be used by traders of all experience levels. You just need the MT4 trading platform and an MT4 trading account. I always prefer to open an MT4 account with ECN forex brokers for the best trading conditions available such as low spreads/commissions and reliable execution speeds.
With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Happy Breakout Trading Strategy
As the name eludes to, Happy Breakout implements a trading strategy that is aimed at spotting market breakouts. The expert advisor uses the strategy based on the breakdown of what it determines to be the most important support and resistance levels.
From my personal experience, a robot cannot match a human’s eye when picking support and resistance levels.
The EA uses a fixed stop loss and will add a trailing stop to trades in order to try and lock them in whilst maximising them at the same time.
The Happy Breakout EA has been designed to run on the 1-hour charts of the following major FX currency pairs: EURUSD, GBPUSD, USDJPY.
Happy Breakout Features:
- Supports ECN brokers
- Autodetection of 4/5 digit broker quotes
- 100% automated
- No grid
- No hedging
- No arbitrage
- No martingale
Happy Breakout Back Testing
Whilst the developer has shared optimized back tests using real tick data with 99.9% model quality, they have not used real variable spreads nor have they accountant for trade commissions, swaps and slippage in the back tests. Thus, I would take these back-test results with a large pinch of salt.
Happy Breakout Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Happy Breakout Summary
Overall, the Happy Breakout EA is another forex robot from the Happy Forex team that does not stand out to me compared to some other robots you can see in my forex robot reviews.
I am disappointed by the back testing and have seen alternative forex robots with an overall better performance and a lower price tag.
That being said, Happy Breakout does include full support, free updates, instructions and a money back guarantee.