Range Breakout EA MT4

Unlike many other programs in the mql5 market this is a REAL day trading strategy. It does not use any martingale or grid functionalities and follows a logical concept.

<General Settings>

Timeframe Range Calculation: Chart timeframe used for range calculation (always use PERIOD_M1 for live trading and only change in tester if you do not have enough M1 data).

Trading Volume: Mode for the calculation of the lot size for each trade.

Fixed Lots: Lot size for each trade if the fixed trading volume mode is chosen.

Fixed Lots Per x Money: Uses "Fixed Lots" per each x amount of money in your trading account.

Risk Percentage of Balance: The lot size for each trade will be calculated so that the set percentage of your account will be lost if the inital SL is triggered.

Order Puffer Points (0 = No Puffer): Orders will be placed x points above and below the range.

Target Factor (0 = No TP): The distance form the entry order price to the TP calculated as a multiple of the current range.

Stop Mode: Mode for the calculation of the initial SL for each trade.

Stop Factor:  The distance form the entry order price to the SL calculated as a multiple of the current range.

Stop Percent:  The distance form the entry order price to the SL calculated as a percentage of the order entry price.

<Time Settings>

Range Start Hour: Hour for the start time of the daily range.

Range Start Minute: Minute for the start time of the daily range.

Range End Hour: Hour for the end time of the daily range.

Range End Minute: Minute for the end time of the daily range.

Delete Orders Hour: Hour for the expiration time of pending orders.

Delete Orders Minute: Minute for the expiration time of pending orders.

Close Positions: Decides if open positions are closed at the close position time.

Close Positions Hour: Hour for the close time of open positions.

Close Positions Minute: Minute for the close time of open positions.

<Trailing Stop Settings>

BE Stop Trigger Points (0 = Inactive): The Break Even Stop is activated as soon as a trade is more than the BE Stop Trigger Points in profit.

BE Stop Puffer Points: The Break Even Stop will move the Stop Loss BE Stop Puffer Points in profit once it is activated.

TSL Trigger Points (0 = Inactive):  The Trailing Stop is activated as soon as a trade is more than the TSL Trigger Points in profit.

TSL Points: The Trailing Stop will be trailed in this set distance behind the current market price.

TSL Step Points: The SL will only be modified if it is at least this distance above the previous SL.

<Trading Frequency Settings>

Max Long Trades: Maximum amount of buy trades on a single day.

Max Short Trades: Maximum amount of sell trades on a single day.

Max Total Trades: Maximum amount of trades on a single day.

<Range Filter Settings>

Min Range Points: Ranges are ignored if they are smaller than the Min Range Points.

Min Range Percent: Ranges are ignored if they are smaller than the Min Range Percent.

Max Range Points: Ranges are ignored if they are bigger than the Max Range Points

Max Range Percent: Ranges are ignored if they are bigger than the Max Range Percent

<More Settings>

Range Color: Color of the range object in the chart.

Order Comment: Commentary for every order the EA places.

Magic Number: This number should be unique for every EA in your account since the EAs use it to identify their own trades.

Chart Comment: Activates or deactivates the comment in the upper left corner of the chart.