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This expert advisor for MetaTrader 4 focuses on gold trading using daily price extremes and moving averages. It calculates the 7-day Simple Moving Average and identifies the highest price points from the previous five trading days to determine market direction. The EA executes its logic on a five-second timer interval
Trading robot · MT4
ATR Breakout EA
This MetaTrader 4 expert advisor executes trades based on Average True Range volatility patterns.
GitHub stars2
Forks0
Last update6 years ago4 Jun 2020
LicenceNone stated
Overview
ATR Breakout EA identifies breakout opportunities by comparing current ATR levels against the previous day's peak and trough, targeting periods of increasing volatility at the start of the trading session. The robot places pending limit or stop orders when price breaks beyond a specific range relative to the previous candles. It features risk management controls including a fixed monetary risk amount per trade, maximum lot size limits, and multiple stop loss calculation methods using either candle extremes or ATR multipliers.
- ATR-based volatility breakout detection
- Configurable monetary risk per trade
- Multiple stop loss calculation methods
- Automated trading hour window
- Pending order expiration management
Details
Author
MarkyMark1000 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout
Markets
Forex
Timeframes
M15-H1
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 EA_2020_ATRBreak.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
I_MagicNumber | int | 20200505 | Magic Number |
I_ATRPeriod | int | 5 | ATR Period |
I_AtRisk | double | 20 | AtRisk in Account Curr |
I_StoplossMethod | StoplossMethod | 0 | Stoploss Calculation Method. |
I_ReversionPercent | int | 20 | Reversion of Limit/Stop Open relative to last 2 candles. |
I_StoplossATRMultiplier | double | 1.0 | ATRMultiplier to calculate stoploss. |
I_TypicalSpread | double | 0.00030 | Typical Spread used in SL Offsets |
I_MaxLotSize | double | 0.5 | Max Lot Size for Risk Management. |
I_RiskRewardRatio | double | 1.5 | Risk/Reward Ratio for T.P. |
I_LimitStopOrderExpiryMins | int | 60 | Lim/Stop Order Duration in minutes. |
I_HiddenStoplossOffset | double | 0 | Hidden Stoploss offset. |
I_TradingStartHour | int | 7 | Trading Start Hour. |
Show all 14 inputs
| Name | Type | Default | Description |
|---|---|---|---|
I_TradingEndHour | int | 20 | Trading End Hour. |
I_LogResultsInFile | bool | false | Log Results in File. |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone MarkyMark1000/MQL_ATRBreakout from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts, and any .mqh files into the Include folder the code expects.
- 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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