Daily Breakout Wizard EA V1.2 MT5

Daily Breakout Wizard EA V1.2 MT5: A Powerful Forex Trading Tool💫💫

The Daily Breakout Wizard is a highly intelligent and stable Expert Advisor for the MT5 platform. It uses a Breakout Strategy to place trades at the open start of the London, New York and Tokyo trading sessions. This E.A Trades 3 pairs (GBPUSD, EURUSD, USDJPY) on a daily basis placing an average of 21 trades per day. The Daily Breakout Wizard does not use Martingale, Grid, Hedging or any other risky trading methods.

Recommended Settings:

• Minimum Deposit: $500
• Timeframe: 5-minute charts
• Currency Pairs: GBPUSD, EURUSD, USDJPY

Key Features:

1. Breakout Strategy:
   • The EA monitors price movements during the Asian session (when volatility tends to be lower) and identifies potential breakout levels.
   • It places pending buy and sell orders just above and below the previous day’s high and low prices.
   • When the market breaks out of these levels, the EA triggers the corresponding order.
2. Dynamic Stop Loss and Take Profit:
   • The EA adjusts stop loss and take profit levels dynamically based on market conditions.
   • It aims to capture profits while minimizing risk by trailing the stop loss as the trade moves in the desired direction.
3. Time Filter:
   • The EA avoids trading during certain hours (e.g., major news releases or low liquidity periods).
   • This helps prevent unnecessary losses due to volatile market conditions.
4. Risk Management:
   • The EA calculates position size based on the account balance and risk percentage.
   • It ensures that each trade adheres to the specified risk tolerance.

Example Trade Scenario:

1. Market Conditions:
   • Asian session: GBPUSD is trading in a tight range.
   • Previous day’s high: 1.4000
   • Previous day’s low: 1.3950
2. EA Actions:
   • Places a pending buy order at 1.4005 (above the previous day’s high) with a stop loss at 1.3980.
   • Places a pending sell order at 1.3945 (below the previous day’s low) with a stop loss at 1.3970.
3. Breakout Occurs:
   • GBPUSD breaks above 1.4000.
   • The buy order is triggered, and the EA sets a take profit at 1.4050.
4. Result:
   • If the market continues to rise, the take profit is hit, resulting in a profit.
   • If the market reverses, the stop loss limits the loss.