- January 22, 2023
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Range Breakout EA Review
Range Breakout EA is a popular trading Robot that generates market entry signals when the price crosses a border of a certain price range. This Range Breakout EA can be used to trade a wide range of financial instruments, including currency pairs, stocks, and commodities.
The Range Breakout EA can be used on a variety of currency pairs and timeframes, including EURUSD M30, EURUSD H1, USDJPY M30, USDJPY H1, GBPUSD M30, and GBPUSD H1. However, the recommended pair/timeframe for this strategy is EURUSD H1, USDJPY H1 or EURUSD M30, USDJPY M30.
Best Brokers List
When choosing a broker, it is important to consider factors such as low spreads and high-quality execution. A Virtual Private Server (VPS) with minimal ping to your broker is also recommended to ensure that trades are executed quickly and efficiently. A leverage of 1:100 or more is recommended for this strategy.
The range Breakout EA works with any broker and any type of account, but we recommend that our clients use one of the top forex brokers listed below:
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|Register||2007||Sydney, Australia||1:1000||$200||ASIC, SCB, FSA|
|Register||2010||Melbourne, Australia||1:500||$200||FCA , ASIC, DFSA|
|Register||2008||Cyprus||1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|Register||2011||London, England||1:500||$25||regulated by CySEC|
|Register||2006||Dublin, Ireland||1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|
Range Breakout EA Settings
The “Config” Range Breakout EA is a powerful trading technique that utilizes advanced parameters to generate market entry signals and maximize profits. These parameters include:
- Magic: An identifier for trades, allowing traders to easily track and manage their trades in their trading platform.
- Order Comment: Allows traders to add notes or comments to their orders for easy reference and organization.
- Slippage: The maximum deviation from the intended entry or exit price before an order is executed.
- Max Spread: The maximum allowed difference between the bid and ask prices before a trade is initiated.
- Ticks average spread: A metric used to calculate the average spread over a certain number of ticks.
- Ticks for deleting pending orders: The number of ticks used to determine when pending orders should be deleted if the spread exceeds the Max Spread.
- Order Type: The direction of the trade, whether it’s a buy or sell order.
- Disable trade if spread high: A feature that temporarily disables trading if the spread exceeds the Max Spread.
- Fixed_Lot: A fixed lot size for trades, used when the Use_Risk_MM parameter is set to false.
- Use_Risk_MM: A parameter that controls whether the lot size increases as the account balance grows.
- Percentage_Risk: The percentage of account balance used to determine the lot size increase.
- Take_Profit: The number of pips at which a trade will be closed for a profit.
- Stop_Loss: The number of pips at which a trade will be closed to limit losses.
- Breakeven_Target_PipsInp: The number of pips above the entry price at which the stop loss will be moved to breakeven.
- Breakeven_Jump_PipsInp: The number of pips by which the stop loss will be moved to breakeven.
- Trailing_Stop: The number of pips at which the stop loss will be moved when the trade is in profit.
- Trailing_Step: The number of pips by which the stop loss will be moved when the trade is in profit.
- Risk_Protection_on_slippages: A feature that closes a trade if there is a significant slippage.
- Adaptive_Trailing_to_slippages: A feature that adjusts the trailing stop based on market conditions.
- Change_correction_coefficient: A parameter that controls the sensitivity of the adaptive trailing stop.
- Adaptive_by_Time: A feature that modifies the adaptive trailing stop based on the time of day.
- Time_Scale: The time interval used for price analysis.
In summary, the “Config” Range Breakout EA is a customizable and flexible trading technique that uses advanced parameters to help traders make informed decisions and maximize profits. It includes various risk management features and allows traders to fine-tune their trades to suit their needs and preferences.
Range Breakout EA Results
To create the Range Breakout EA , we used historical data with 99.9% quality for the last 15 years. The data was analyzed to identify the best signals and filter out false signals. The Expert Advisor (EA) performs cycle technical analysis and considers only the breakouts that show the best results.
The Range Breakout EA uses a system of filtering. This helps to reduce the risk of losing money on false signals and increases the chances of making a profit.
The EA also uses an adaptive trailing stop to protect profits and minimize losses. This feature allows the stop loss to be adjusted automatically as the price moves in favor of the trade, ensuring that profits are locked in while limiting potential losses.
The EA uses a very small stop loss (SL) to protect the account from equity drawdown. This means that the risk-per-trade is very low, making it suitable for traders of all experience levels.
In conclusion, breakout-based strategy is a powerful trading technique that can be used to generate market entry signals and profit from market movements. It is based on historical data and uses advanced filtering and trailing stop techniques to minimize risks and maximize profits. With the right approach and a reliable broker, this strategy can be a powerful tool for traders of all experience levels.
Range Breakout EA Free Download
We highly recommend trying Halgo RTM EA with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.