Day Breakout MT5 is a trading algorithm developed by the Forex Robot Easy Team. It is designed to identify breakout opportunities in the market and execute trades based on predefined parameters. This algorithm utilizes the MetaTrader 5 platform and can be used for automated trading.
The algorithm provides several customizable input parameters:
- TimePeriod: Defines the time period in days for the breakout analysis.
- BreakoutThreshold: Sets the breakout threshold as a percentage.
- StopLossLevel: Determines the stop-loss level as a percentage.
- TakeProfitLevel: Sets the take-profit level as a percentage.
The OnInit() function is executed during the initialization of the algorithm. It can be used to add any necessary initialization code. In this code, no specific initialization is required, so the function returns INIT_SUCCEEDED.
The OnDeinit() function is executed during the deinitialization of the algorithm. It can be used to add any necessary deinitialization code. In this code, no specific deinitialization is required, so the function is left empty.
The OnTick() function is executed on each tick of the market. It is the main function where the breakout analysis and trade execution take place.
- The highest and lowest price levels of the previous day are calculated using the High[] and Low[] functions.
- The breakout threshold levels for buying and selling are calculated based on the previous day's high and low prices.
- If the current ask price exceeds the buy threshold, a buy trade is placed at the current market price using the OrderSend() function. The stop-loss and take-profit levels are set based on the input parameters.
- The potential profit/loss for the trade is calculated and displayed using the Print() function.
- If the current bid price falls below the sell threshold, a sell trade is placed at the current market price using the OrderSend() function. The stop-loss and take-profit levels are set based on the input parameters.
- The potential profit/loss for the trade is calculated and displayed using the Print() function.
The code includes placeholders for custom functions that can be added to modify and close trades based on stop-loss and take-profit levels, calculate and display real-time profit/loss for each trade, and provide real-time price data for analysis and decision-making. These functions can be added by the user based on their specific requirements.
The code also includes placeholders for functions related to testing, debugging, and optimization. These functions can be added to test the code using historical market data, debug and fix identified issues or errors, and optimize the execution for efficient resource usage.
Day Breakout MT5 is a reliable and automated trading algorithm developed by the Forex Robot Easy Team. It is designed to identify breakout opportunities in the market and execute trades based on predefined parameters. With customizable input parameters such as time period, breakout threshold, stop-loss level, and take-profit level, traders can tailor the algorithm to their specific trading strategies.
The algorithm utilizes the powerful MetaTrader 5 platform, providing traders with a seamless and efficient trading experience. It executes trades at the optimal market price, ensuring minimal slippage and maximizing profit potential. The algorithm also includes features for risk management, with stop-loss and take-profit levels that can be adjusted to suit individual risk preferences.
To use Day Breakout MT5, traders can simply copy and paste the code into the MetaEditor within MetaTrader 5. The algorithm can be easily customized and optimized to meet the unique trading requirements of each individual. It provides an automated and systematic approach to trading, eliminating emotions and human error from the decision-making process.
Please note that ForexRobotEasy is not the official developer of this product. We are showcasing a sample code that can work similarly to the product described. To find the official developer and obtain the complete and official version of this product, we recommend using the MQL5 platform.
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