High Low Breakout Algorithm: Free MT5 Expert Advisor

Overview

The algorithm scans a user-defined lookback period to find price zones with a specific number of touches before signaling an entry upon a breakout. It manages risk through fixed stop losses, a multi-step trailing stop, and automated breakeven adjustments. Additional safety features include an account equity drawdown guard, maximum daily trade limits, and filters for spreads, specific trading hours, and news events.

Automated support and resistance identification

Multi-step trailing stop and breakeven logic

Account equity drawdown protection

Time and news event filters

Details

Author

AlgoDeveloper400 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

HighLowBreakoutAlgorithm.mq5

Source

github.com/AlgoDeveloper400/MQL5HighLowAlgorithm

Input parameters

Read from HighLowBreakoutAlgorithm.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default
`colorBreakoutHigh`	`color`	`clrLimeGreen`
`colorBreakoutLow`	`color`	`clrDodgerBlue`
`LookBackPeriod`	`int`	`24`
`NumberOfHighsOrLows`	`int`	`3`
`boxWidth`	`int`	`55`
`Lots`	`double`	`4`
`StopLoss`	`double`	`650`
`EstimatedCommissionPerLot`	`double`	`0`
`TrailingStopMultiplier`	`double`	`1.75`
`TrailingStopIncrement`	`double`	`325`
`MaxBoxesPerDay`	`int`	`2`
`MaxDrawdownPercent`	`double`	`7.00`

Show all 20 inputs

Name	Type	Default	Description
`MinSpread`	`double`	`0`
`MaxSpread`	`double`	`600`
`FontSize`	`int`	`18`
`TimeRangeInDays`	`int`	`1`
`TradePauseBeforeAfter`	`int`	`1800`	IN SECONDS
`StartHour`	`int`	`7`
`EndHour`	`int`	`22`
`UseTimeFilter`	`bool`	`true`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone AlgoDeveloper400/MQL5HighLowAlgorithm 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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