Ifvg London Breakout Algo: Free MT5 Expert Advisor

Overview

Designed for the EUR/USD M5 timeframe, it identifies price ranges during predefined morning hours to set pending breakout orders while simultaneously monitoring Smart Money Concepts patterns. The bot includes comprehensive trade management features such as automated break-even levels, trailing stops, and tick volume filters to avoid low-liquidity periods. It also provides seasonal and time-based trading restrictions to filter specific months or holiday periods.

Dual breakout and IFVG entry logic

Smart Money Concepts price action patterns

Automated break-even and trailing stop management

Configurable session and seasonal trading filters

Details

Author

964quanyuan on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Breakout, SMC / ICT / price action, Trend following

Markets

Forex

Timeframes

M1-M5

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

ifvg_brkt_algo.mq5

Source

github.com/964quanyuan/fx-strategy

Input parameters

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

Name	Type	Default
`TickVolumeFilter`	`bool`	`true`
`MinTickVolume`	`int`	`1250`
`TradeJulyToOctober`	`bool`	`false`
`Trade11AMPeak`	`bool`	`false`
`RangeStopTime`	`int`	`11`
`RangeStartTime`	`int`	`3`
`PendingCancelTime`	`int`	`18`
`DefaultPointsForTP`	`int`	`800`
`DynamicPointsForTP`	`bool`	`false`
`OrderSize`	`double`	`2`
`BreakEvenAt`	`double`	`100`
`BreakEvenStop`	`double`	`20`

Show all 30 inputs

Name	Type	Default
`TrailStartAt`	`double`	`240`
`TrailDistance`	`double`	`100`
`SLTPRatioLimit`	`double`	`0.5`
`BRKT_MagicNumber`	`int`	`6996`
`TRADEBRKOUT`	`bool`	`true`
`IFVG_MinFVG_Size`	`int`	`15`
`IFVG_LondonTradeStart`	`int`	`9`
`IFVG_NYTradeStart`	`int`	`14`
`IFVG_TradeJulyToOctober`	`bool`	`false`
`IFVG_TradeHolidayBreak`	`bool`	`false`
`IFVG_SLToBreakEven`	`bool`	`true`
`IFVG_OrderVolume`	`double`	`3`
`IFVG_TrailDistMult`	`double`	`1.3`
`IFVG_MagicNumber`	`int`	`6969`
`IFVG_IFVGToTradeDiff`	`int`	`5`
`IFVG_TPSLRatio`	`int`	`4`
`IFVG_FVGToIFVGDiff`	`int`	`15`
`TRADEIFVG`	`bool`	`true`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone 964quanyuan/fx-strategy 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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