This EA generates a channel by the selected amount of history candles. EA draws high/low lines of these channels, so it is easier to figure out what EA "sees". A channel is updated with every new candle, so it's always up to date. The breakout scalping strategy is quite easy - if the upper level has been crossed from below to above = buy trade, if the lower level has been crossed from above to below = sell trade. EA also has trailing stop and breakeven which may help you protect your earned profit.
This EA may be used for strategies like breakout levels, support and resistance levels, previous day highest/lowest prices, news trading and many others.
Strategy tester - EA works exactly the same in the strategy tester, so you're able to test/trade your strategy much faster and find out the best settings and other details much faster.
EA has the most used features, we don't want to add too much stuff in the original EA. So we offer custom updates for any of our EA - you can easily order a custom update and adapt this EA to your specific needs.
After EA has been attached to the chart it instantly finds the levels and waits for them to be crossed.
Inputs menu of the Channel Breakout Scalper EA MT4 .
Channel history candles - the numbers of the history candles to find the highest and the lowest levels of the trading channel. You can use any number. Like 5, 20, 50, 200..
Min channel size pips - a filter which helps you to avoid small channels, avoids opening.
Max channel size pips - a filter which helps you to avoid huge channels, avoids opening.
Lot management options:
Choose one of the 3 lot managements and set it as true, the other 2 must be as false.
Fixed lot - simple fixed lot which is applied for each trade.
Martingale - start lot and a multiplier, EA will use a lot multiplier if the previous trade was in loss.
Risk% management - choose your desirable risk% per trade, EA will calculate the risk size automatically. Stop loss must be used.
Trade comment - use it if you want to add a comment for each trade separately, for example "EURUSD M15".
Stop loss pips - set a stop loss in pips which will be used for each trade separately.
Take profit pips - set a take profit in pips which will be used for each trade separately.
Max open trades Buy/Sell - for example 10, this will result in max open 10 buy trades or max open 10 sell trades.
Pips on profit to enable - once reached, break even is applied.
Offset pips from open price - the distance from the open, in this way you can avoid spread size by adding extra 2 pips for example.
Trailing start pips - once the trade has this amount of profit, trailing stop is activated.
Trailing stop pips - trailing stop distance from the stop loss to the current price.
One trailing step - it's basically how often do you want to refresh the trailing stop.
Trading time settings - that's simple, simply choose time and weekdays you want to trade.
Spread filter - set max allowed spread size in pips, EA checks it before opening the trade. If the spread size is too big = no trade.
Magic number - use magic number rule if this EA is used in more than 1 chart. Read more.
Insert EA file into the experts folder.
If you need any help just contact our team.
Download Demo. It works in the strategy tester only.
Buy full version
You will get Channel Breakout Scalper EA MT4
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Best quality guaranteed
Instant download after purchase
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