This MetaTrader 5 expert advisor implements an open range breakout strategy specifically designed for gold trading on the hourly timeframe. It identifies the high and low of the initial trading hour and establishes a definitive range after a user-defined consolidation period. Trades are triggered when price breaks thro
Trading robot · MT5
AR Tenkansen Breakout EA
AR Tenkansen Breakout EA is a MetaTrader 5 expert advisor that trades breakouts of the Ichimoku Kinko Hyo indicator's Tenkan-sen line.
GitHub stars5
Forks0
Last update1 year ago22 Oct 2024
LicenceNone stated
Overview
AR Tenkansen Breakout EA uses an internal multiplier to adjust standard Ichimoku periods for different market conditions. The robot manages entries and exits based on price interaction with the Tenkan-sen and Kijun-sen components. Risk management is handled through percentage-based position sizing and a fixed risk-to-reward calculation. The system includes optional exit rules for closing positions when price touches or closes beyond indicator lines. The documentation in the repository is minimal.
- Ichimoku Tenkan-sen breakout logic
- Percentage-based risk lot sizing
- Configurable risk-to-reward ratio
- Indicator-based exit conditions
Details
Author
Andrukas8 on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk Profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA Files
Input Parameters
Read from AR_Tenkansen_Breakout_EA_Code.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
IchimokuMultiplier | int | 1 | |
PercentRisk | double | 2 | |
MinSLPoints | double | 10 | |
RiskToReward | double | 1 | |
Close_Pos_Kijunsen | bool | false | CLOSE WHEN PRICE TOUCHES KIJUNSEN |
Close_Pos_Tenkansen | bool | false | CLOSE WHEN PRICE TOUCHES TENKANESEN |
ClosePosTenkansen | bool | false | CLOSE IF PRICE CLOSES OVER TENKANSEN |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone Andrukas8/AR_Tenkansen_Breakout_EA from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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