TrueBreak EA MT4 – Free Download

TrueBreak EA Review

The world of forex trading can be both rewarding and unpredictable, making automated trading systems a valuable tool for traders seeking to minimize risk and maximize potential returns. TrueBreak EA is one such trading tool, designed to capitalize on breakout strategies, and it claims to offer precision and risk management for an optimal trading experience. In this review, we'll delve deep into its features, performance metrics, and the pros and cons of using this EA. We'll also examine the tool's slippage control mechanism, an essential component for traders aiming for accuracy.

Technical Specifications

Version: 5.1
Year of issue: 2024
Working pairs: EURUSD, USDJPY, GBPUSD
Recommended timeframe:  Any
Minimum Deposit: $1000
Average of account: 1:30 To 1:1000

Best Brokers List

TrueBreak EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

TrueBreak EA Settings

Key Features of TrueBreak EA

1. Breakout Strategy Implementation

• Core Strategy: TrueBreak EA leverages a breakout strategy by analyzing price movements and identifying when a currency pair breaks out of a defined price range. This method capitalizes on significant market movements to generate entry signals.
• Historical Data Analysis: To refine its strategy, the EA uses 15 years of historical data with a 99.9% data quality backtest. Only the most reliable signals are selected, while false signals are filtered out to improve performance.

2. Signal Filtering System

• Technical Analysis: The EA performs in-depth technical analysis, utilizing algorithms to differentiate between genuine and false breakouts.
• Adaptive Filtering: The built-in filters ensure that only the most promising trading opportunities are considered.

3. Risk Management

• Small Stop Loss (SL): TrueBreak EA employs minimal stop-loss levels to protect the trading account from large drawdowns, ensuring low risk per trade.
• Adaptive Trailing Stop: This feature locks in profits as the trade moves favorably. The trailing stop dynamically adjusts based on market conditions, which helps secure profits and limit losses.

4. Slippage and Execution Control

• Slippage Panel Monitoring: The EA includes a comprehensive slippage control panel that provides real-time statistics on positive and negative slippages. Users can view details like average slippage, total trade cost, and conditions ranging from “Excellent” to “Change Your Broker,” which gives a clear indication of execution quality.
• Execution Efficiency: The EA emphasizes the importance of low spreads and fast execution. Traders are advised to use a Virtual Private Server (VPS) with minimal latency to ensure optimal performance.

5. Compatibility and Recommendations

• Supported Pairs and Timeframes: TrueBreak EA is optimized for major currency pairs such as EURUSD, USDJPY, and GBPUSD.
• Hedging Accounts: This EA is suitable exclusively for hedging accounts, making it essential to check with your broker regarding compatibility.
• Broker and System Requirements: For optimal results, a leverage of 1:100 or higher is recommended, alongside a reliable broker that supports scalping and offers tight spreads. Running TrueBreak EA on a dedicated trading account is ideal to avoid processing delays.

Advantages of TrueBreak EA

1. Proven Strategy with High-Quality Data: The use of 15 years of historical data at a 99.9% quality level enhances the reliability of the strategy, filtering out false signals and focusing on strong breakout opportunities.
2. Effective Risk Management: The use of a small SL and adaptive trailing stop features ensures that risk per trade is minimized while still capturing significant market movements.
3. Slippage Control: The slippage panel provides valuable insights into trade execution quality, helping traders identify potential issues with their broker's execution speed or spreads.
4. User-Friendly Settings: The EA offers flexible settings for risk management, trailing stop, breakeven, and trade entry customization, allowing both novice and experienced traders to optimize performance.
5. VPS Compatibility: The recommendation to use a VPS for minimal latency emphasizes the EA’s need for speed and efficiency in execution, a crucial factor in breakout trading.

Disadvantages of TrueBreak EA

1. Dependency on Market Conditions: Breakout strategies can struggle during periods of low volatility or when markets are choppy. The EA’s performance might be inconsistent if the market does not exhibit clear breakouts.
2. Broker Dependence: Execution speed, slippage, and spreads play a significant role in the EA’s success. Traders using brokers with high slippage or variable spreads may not experience optimal performance.
3. Technical Requirements: The EA requires a dedicated VPS and should not share resources with other advisors or programs. This can be an added expense and logistical challenge for some traders.
4. Scalping Limitations: Not all brokers allow scalping strategies, especially if trades are closed within a minute. It’s crucial to check broker policies to avoid trade restrictions or limitations.

Understanding the Slippage Control Panel

The attached images reveal the EA’s sophisticated slippage control system. The panel displays statistics like:

• Positive and Negative Slippages: These show how much slippage affected trade entries and exits. Positive slippage indicates favorable execution, while negative slippage represents unfavorable execution.
• Total Trade Cost: The cumulative cost of spread, commission, and slippage is shown, helping traders evaluate the impact on profitability.
• Conditions Assessment: The system categorizes execution conditions as “Excellent,” “Good,” “Ordinary,” “Bad,” or even suggests changing your broker. This transparency ensures traders are well-informed of how slippage impacts their results.

Example Scenarios

1. Excellent Conditions: If slippage statistics are favorable, traders can continue with confidence.
2. Ordinary or Bad Conditions: Significant negative slippage may warrant reviewing your broker's performance or using a different one.

Conclusion

TrueBreak EA presents a compelling case for traders who prefer automated breakout strategies with a robust risk management system. The adaptive trailing stop and thorough signal filtering set it apart from simpler EAs. However, its effectiveness heavily depends on market conditions and the trader’s choice of broker.

Download TrueBreak EA

Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.

Risk Disclaimer

Trading forex carries significant risks and may not be suitable for all investors. Past performance does not guarantee future results. The statistics and performance metrics presented are based on historical data and may not represent future performance. Traders should carefully consider their financial situation and risk tolerance before using any automated trading system