Description

Breakout Prophy EA MT4: A Comprehensive Guide

Introduction

The Breakout Prophy EA MT4 is a powerful MetaTrader 4 expert advisor designed to capitalize on market breakouts. In this article, we’ll explore its key features, optimal settings, and trading strategy.

 

Minimum Deposit

• To start using the Breakout Prophy EA, consider a minimum deposit of $500. This ensures sufficient capital for effective trading.

 

Time Frame

• The EA performs best on the H1 (1-hour) and H4 (4-hour) time frames.
• These time frames allow the EA to identify significant breakouts while minimizing noise.

 

Recommended Currencies

• The Breakout Prophy EA works well with major currency pairs:
  • EUR/USD
  • GBP/USD
  • USD/JPY
  • AUD/USD
  • USD/CHF

Breakout Strategies

The EA combines several breakout strategies to identify profitable trading opportunities:

1. ZigZag Breakout:
   • The EA monitors ZigZag patterns to detect trend reversals and breakouts.
   • When a ZigZag pattern confirms a breakout, the EA enters a trade.
2. Daily Candle Breakout:
   • The EA analyzes the daily candle’s high and low.
   • If the price breaks above the previous day’s high or below the low, the EA places pending orders.
3. London Time Breakout:
   • During the London session, the EA looks for price movements beyond predefined levels.
   • It enters trades based on breakout signals during this active market period.
4. Pivot Points Breakout:
   • The EA considers pivot points (support and resistance levels) to identify breakout opportunities.
   • It places orders when the price breaches these levels.
5. Customizable Settings:
   • The Breakout Prophy EA allows customization of various parameters:
     • Break-even levels
     • Stop loss (SL) and take profit (TP) targets
     • Trailing stop
     • News filter (automatically downloads news data)
     • Grid trading (both in profit and loss)

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀

 

Stay Updated:

Instant Download: https://yoforex.org/product/breakout-prophy-ea-mt4/ ‎

Contact: https://t.me/yoforexrobot

 

🔔😎Happy Trading😎🔔