Structure Breakout EA MT5

This code is for a custom Expert Advisor (EA) called Structure Breakout EA MT5. It is designed to capture explosive movements in forex trading by identifying structure breakouts.

Features

• The EA uses the MetaTrader 5 platform.
• It includes necessary libraries for trading operations: Trade.mqh and PositionInfo.mqh.
• The user can define input parameters such as Stop Loss, Take Profit, Risk Percentage, and enable/disable long and short positions.
• The code initializes the trade object and sets the expert magic number.
• The EA checks for structure breakouts on each tick.
• If long positions are enabled and there are no open long positions, the EA checks for a structure breakout and opens a long position if detected.
• If short positions are enabled and there are no open short positions, the EA checks for a structure breakout and opens a short position if detected.
• The structure breakout logic is not implemented in the code and needs to be added by the user.
• The code includes a function to calculate the lot size based on the risk percentage and account balance/equity.
• The code includes a function to generate a unique magic number for each instance of the EA.

How it Works

1. The code initializes the necessary libraries and defines input parameters.
2. On each tick, the EA checks if long positions are enabled and if there are no open long positions.
3. If the above conditions are met, the EA checks for a structure breakout using the IsStructureBreakout function. If a structure breakout is detected, a long position is opened using the Buy function of the trade object.
4. The same process is followed for short positions if they are enabled.
5. The IsStructureBreakout function is where the user needs to implement their logic to identify structure breakouts. If a structure breakout is detected, the function should return true; otherwise, it should return false.
6. The Lots function calculates the lot size based on the risk percentage and account balance/equity. It returns the calculated lot size.
7. The GetMagicNumber function generates a unique magic number for each instance of the EA. The user can change the default value to a unique number.

Product Description

The Structure Breakout EA MT5 is a powerful tool for capturing explosive movements in forex trading. It is designed to identify structure breakouts and open positions accordingly. With customizable input parameters, traders can set their preferred stop loss, take profit, and risk percentage.

The EA is easy to use and can be enabled for both long and short positions. It calculates the lot size based on the specified risk percentage and account balance/equity, ensuring optimal risk management. The unique magic number generated for each instance of the EA allows for multiple instances to be used simultaneously.

To maximize profitability, traders need to implement their logic in the IsStructureBreakout function to identify structure breakouts. This flexibility allows for customization based on individual trading strategies.

The Structure Breakout EA MT5 is a reliable and efficient tool for capturing explosive movements in forex trading. It is suitable for both beginner and experienced traders looking to optimize their trading strategies and increase profitability.

For more information and to download the EA, please visit the Forex Robot Easy website.