This Range Breakout EA is a thoughtfully designed Expert Advisor tailored for Day Traders, specifically during European market hours. It employs proven trading strategies and avoids high-risk methodologies like grid, hedge, or Martingale recovery systems, making it a safer option for traders.
How Range Breakout EA Works
Range Breakout EA focuses on the USDJPY currency pair, opening a single position daily after a specific range is defined between 1:00 AM and 6:50 AM (GMT/UTC+2). Once the range is established, the breakout is monitored, and a position is opened in the direction of the trend.
The EA integrates an optimized trailing stop, which activates after a certain profit threshold is reached, helping to secure gains while allowing for further potential upside. By automatically closing all positions at 7:55 PM, traders avoid overnight swap costs, enhancing the system’s efficiency.
Additionally, the EA features a built-in trend filter, which improves the likelihood of opening positions aligned with the prevailing market direction.
Key Features of Range Breakout Day Trader EA
Risk Management
- Every trade is protected with a stop-loss, and users can set a maximum allowed equity drawdown for additional safety.
- Only a single position is opened daily.
- The EA avoids high-risk trading practices like Grid or Martingale, ensuring trades remain controlled and safe.
- Positions are managed with a trailing stop based on ATR values.
- Any open trades are closed before the end of the trading day to prevent rollover fees.
Recommendations
- Minimum account balance of 100$.
- Work Best on USDJPY (Work on any currency pair)
- It works best on the M5 time frame. (Work on any time frame)
- Default settings are tailored for brokers operating on GMT/UTC+2 with DST, but time adjustments can be made for brokers with different server times.
