This MetaTrader 5 expert advisor implements an open range breakout strategy specifically designed for gold trading on the hourly timeframe. It identifies the high and low of the initial trading hour and establishes a definitive range after a user-defined consolidation period. Trades are triggered when price breaks thro
Trading robot · MT5
Trading Bot System
This MetaTrader 5 expert advisor identifies and trades price action patterns using breakout levels.
GitHub stars1
Forks0
Last update1 year ago13 Jan 2025
LicenceNone stated
Overview
The system monitors for specific A-level and V-level breakouts, which must be confirmed by bullish or bearish engulfing candle patterns before entering a position. Risk management is automated through a dedicated module that calculates lot sizes based on a fixed risk percentage and account balance. The implementation is modular, utilizing separate files for pattern logic and trade execution. Documentation is minimal as the repository contains no README file.
- A-Level and V-Level breakout logic
- Engulfing candle confirmation
- Risk-based lot size calculation
- Modular MQL5 architecture
Details
Author
panda001945 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.
Input parameters
Read from TradingBot.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
RiskPercentage | double | 1.0 | Risk percentage per trade |
Leverage | int | 100 | Leverage |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone panda001945/TradingBotSystem 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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