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
Breakout Exp
Breakout Exp is a MetaTrader 4 expert advisor that implements a breakout-based trading strategy.
GitHub stars1
Forks0
Last update7 years ago18 Jan 2019
LicenceNone stated
Overview
Breakout Exp utilizes adjustable fast and slow period parameters to determine market entry and exit points. The system manages trades using fixed lot sizes and identifies its own positions via a unique magic number. It includes functions for counting open orders and closing positions programmatically. Documentation is minimal, and the provided code lacks explicit stop loss or take profit inputs, suggesting that risk management relies on the strategy logic rather than hard exit levels.
- Adjustable fast and slow period inputs
- Magic number order management
- Automated trade closing functions
- Support for fixed lot sizing
Details
Author
galaxysp1 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Trades without a fixed stop loss
EA files
Input parameters
Read from -----Breakout_Exp.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Fast_Period | int | 20 | |
Slow_Period | int | 40 | |
Lots | double | 0.1 | |
Slippage | int | 3 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone galaxysp1/fx_ea 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.
- 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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