Description
Daily Breakout Wizard EA V1.2 MT5: A Powerful Forex Trading Tool💫💫
The Daily Breakout Wizard is a highly intelligent and stable Expert Advisor for the MT5 platform. It uses a Breakout Strategy to place trades at the open start of the London, New York and Tokyo trading sessions. This E.A Trades 3 pairs (GBPUSD, EURUSD, USDJPY) on a daily basis placing an average of 21 trades per day. The Daily Breakout Wizard does not use Martingale, Grid, Hedging or any other risky trading methods.
Recommended Settings:
- Minimum Deposit: $500
- Timeframe: 5-minute charts
- Currency Pairs: GBPUSD, EURUSD, USDJPY
Key Features:
- Breakout Strategy:
- The EA monitors price movements during the Asian session (when volatility tends to be lower) and identifies potential breakout levels.
- It places pending buy and sell orders just above and below the previous day’s high and low prices.
- When the market breaks out of these levels, the EA triggers the corresponding order.
- Dynamic Stop Loss and Take Profit:
- The EA adjusts stop loss and take profit levels dynamically based on market conditions.
- It aims to capture profits while minimizing risk by trailing the stop loss as the trade moves in the desired direction.
- Time Filter:
- The EA avoids trading during certain hours (e.g., major news releases or low liquidity periods).
- This helps prevent unnecessary losses due to volatile market conditions.
- Risk Management:
- The EA calculates position size based on the account balance and risk percentage.
- It ensures that each trade adheres to the specified risk tolerance.
Example Trade Scenario:
- Market Conditions:
- Asian session: GBPUSD is trading in a tight range.
- Previous day’s high: 1.4000
- Previous day’s low: 1.3950
- EA Actions:
- Places a pending buy order at 1.4005 (above the previous day’s high) with a stop loss at 1.3980.
- Places a pending sell order at 1.3945 (below the previous day’s low) with a stop loss at 1.3970.
- Breakout Occurs:
- GBPUSD breaks above 1.4000.
- The buy order is triggered, and the EA sets a take profit at 1.4050.
- Result:
- If the market continues to rise, the take profit is hit, resulting in a profit.
- If the market reverses, the stop loss limits the loss.
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Additional Resources
Instant Download : https://yoforex.org/product/daily-breakout-wizard-ea-v1-2-mt5/
Contact : @yoforexpremium
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