This MetaTrader 5 expert advisor executes a breakout scalping strategy, primarily designed for major currency pairs like EURUSD and GBPUSD on the M5 timeframe.
Breakout Scalper identifies trading opportunities using swing detection over a specific number of bars and places pending stop orders at calculated distances. The EA includes comprehensive trade management features such as fixed stop loss and take profit levels, trailing stops, and a unique multi-level trailing take profit system. Risk is managed through percentage-based lot sizing, session-specific risk multipliers, and an integrated news filter to pause trading during high-impact economic releases.
Multi-level trailing take profit system
Swing-based breakout entry detection
Integrated high-impact news event filter
Time-restricted risk multiplier for specific sessions
1Download the sourceUse "Download source (.zip)" above, or clone TBS-Bettaieb/breakout-scalper 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, 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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