This EA creates a channel based on the number of history candles you specify. EA draws high and low lines on 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 simple: if the upper level has been crossed from below to above, then buy; if the lower level has been crossed from above to below, then sell. EA also has a 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, the previous day's highest and lowest prices, news trading, and many others.
Strategy tester: EA works exactly the same in the strategy tester, so you're able to test and 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 to the original EA. So we offer custom updates for any of our EAs. You can easily order a custom update and adapt this EA to your specific needs. Contact us, and we will add some basic features for free after your purchase.
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 MT5.
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 the DEMO version of the Channel Breakout Scalper EA MT5 and try it in the strategy tester, before purchasing this forex trading robot MT5.
Payment methods: PayPal, Skrill.
With a Paypal account you can purchase this EA by pressing a Paypal button below. After your successful payment, please contact us and we will send your copy of the EA. Your EA will be delivered in a few hours or faster.
If you want to purchase this EA with a Skrill account. Please contact us.
This EA has no any limits:
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Best quality guaranteed
If you have any questions, simply contact us, and we will answer all your questions.
Other similar trading tools:
Eaproducer.com quality standards.