Opening Range Breakout MT5: Free MT5 Expert Advisor

Overview

The system identifies a price range over a specific duration and enters positions when the market breaks through these levels. It supports multiple entry methods including market orders on candle close, resting stop orders, or limit retests. Risk management features include automated lot sizing based on account risk percentage, adjustable stop losses relative to range size, and take profit targets defined by reward-to-risk multiples. It also provides time-based exits and filters for spread and range volatility.

Timezone-aware session range calculation with daylight savings support

Multiple entry modes including market on close and limit retests

Automated lot sizing based on account balance risk percentage

Time-based trade management with maximum hold and force close settings

Customizable stop loss movement based on reward-to-risk thresholds

Details

Author

anas1412 on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Breakout

Markets

Any symbol

Timeframes

M1-M5, 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

Topics

algorithmic-tradingbacktestingexpert-advisorforexmetatrader5mql5opening-range-breakoutprop-tradingquantitative-financetrading-bot

Source

github.com/anas1412/orb-mt5

Input parameters

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

Name	Type	Default	Description
`InpShowPanel`	`bool`	`true`	Show the on-chart control panel
`InpTimeZone`	`ENUM_SESSION_TZ`	`TZ_UTC`	Session timezone
`InpStartHour`	`int`	`0`	Session start hour (in that zone)
`InpStartMinute`	`int`	`0`	Session start minute
`InpRangeMinutes`	`int`	`15`	Range length (minutes)
`InpSignalTF`	`ENUM_TIMEFRAMES`	`PERIOD_M1`	Signal timeframe
`InpNoEntryAfterMin`	`int`	`15`	No entry after (min from range close, 0=off)
`InpForceCloseMin`	`int`	`360`	Force close all (min from range close, 0=off)
`InpMaxHoldMinutes`	`int`	`90`	Max hold per position (min from its fill, 0=off)
`InpWinterOffset`	`int`	`2`	Broker winter offset (hours ahead of UTC)
`InpFollowsUSDST`	`bool`	`true`	Broker uses US DST dates (false = EU)
`InpEntryMode`	`ENUM_ENTRY_MODE`	`ENTRY_MARKET_ON_CLOSE`	Entry mode

Show all 40 inputs

Name	Type	Default	Description
`InpMaxTradesPerDay`	`int`	`1`	Max trades per day
`InpMaxSpreadPoints`	`double`	`0`	Max spread (points, 0=off)
`InpMinRangePoints`	`double`	`0`	Min range size (points, 0=off)
`InpMinRangePercent`	`double`	`0.14`	Min range size (percent of price, 0=off)
`InpMaxRangePoints`	`double`	`0`	Max range size (points, 0=off)
`InpRangeLookback`	`int`	`0`	Rolling filter: sessions to compare against (0=off)
`InpMinRangeRatio`	`double`	`1.25`	Rolling filter: range must be this x the median
`InpMinClosePos`	`double`	`0.50`	Trade only the half the range closed in (0.50=midpoint, 0=off)
`InpYdayFilter`	`bool`	`false`	Skip breaks against yesterday's daily candle (off: not in the published config)
`InpYdayMinBody`	`double`	`30.0`	...only when that candle's body is at least this (price units)
`InpTradeLongs`	`bool`	`true`	Trade upside breaks
`InpTradeShorts`	`bool`	`true`	Trade downside breaks
`InpTradeMon`	`bool`	`true`	Trade Monday
`InpTradeTue`	`bool`	`true`	Trade Tuesday
`InpTradeWed`	`bool`	`true`	Trade Wednesday
`InpTradeThu`	`bool`	`true`	Trade Thursday
`InpTradeFri`	`bool`	`false`	Trade Friday (off: only losing day of the week)
`InpSLMode`	`ENUM_SL_MODE`	`SL_PERCENT_OF_RANGE`	SL mode
`InpSLPercentOfRange`	`double`	`50.0`	SL percent of range (50=midpoint, 100=far side)
`InpSLFixedPoints`	`double`	`0`	SL fixed distance (points)
`InpStopMoveAtR`	`double`	`0.5`	Move stop when trade reaches (R, 0=off)
`InpStopMoveToR`	`double`	`-0.5`	Move stop to (R: 0=entry, -0.5=half risk left)
`InpTPMode`	`ENUM_TP_MODE`	`TP_RR`	TP mode
`InpRR`	`double`	`2.0`	Reward:risk multiple
`InpTPFixedPoints`	`double`	`0`	TP fixed distance (points)
`InpTPRangeMultiple`	`double`	`1.0`	TP as multiple of range size
`InpLotMode`	`ENUM_LOT_MODE`	`LOT_RISK_PERCENT`	Lot sizing mode
`InpLots`	`double`	`0.01`	Fixed lot size

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone anas1412/orb-mt5 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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