Weekly Breakout

[Enivid]

No I didn't test on multiple charts simultaneously. The outcome depends on broker's ability to work with a series of pending orders sent really fast.

 

[hugo]

Thank you, Enivid!
It takes a lot of time to make forward tests for this kind of strategy. Maybe @mhqs idea of a trailing stop feature is not bad to find more profitable opportunities for the EA.
What do you think?

Im testing this EA on Dow30 stock CFDs, weekly and think that it would be useful not only to continue the trade on the next week(s) provided you are in gain, but the original stop loss should be changed as a trailing stop.
As an example, you go long, week ends with a 2% gain, the original stop loss will be moved to the previous week candle LOW (high if you went short). That's way you are able to catch strong trending markets. Hope someone can modify this EA in this way.

Nice weekend!

 

[PeterPan001]

Hi Enivid. I like your Weekly Breakout EA for MT5. You must have put in a lot of thinking into it. Thank you. By the way, could you teach me how to add a TakeProfit? thanks.

 

[Enivid]

The easiest way would be to modify the lines 260 and 286 in MT4 version of the EA. You can set TP just after SL as Ask + pips buy orders or Bid - pips for sell orders.

 

[PeterPan001]

Hi Enivid

Do you mean Ask + 0.00300 and Bid - 0.00300. I want 30 pips SL and TP. Please advise. Eur/Usd and Usd/Chf. Thanks.

 

[hugo]

By testing the EA for some non forex symbols unfortunately it doesnt open the pending orders because "order send error 130".

What can be the reason for that?

 

[Enivid]

By testing the EA for some non forex symbols unfortunately it doesnt open the pending orders because "order send error 130".

What can be the reason for that?

Try setting ECN_Mode to true when trading with those symbols.

 

[PeterPan001]

Hi Enivid

I am still waiting for your reply to my question regarding the setting of SL and TP.

Please help. Thanks.

 

[Enivid]

Hi Enivid

Do you mean Ask + 0.00300 and Bid - 0.00300. I want 30 pips SL and TP. Please advise. Eur/Usd and Usd/Chf. Thanks.

Yes, that should work for EUR/USD and USD/CHF.

 

[PeterPan001]

Hi Enivid

Thank you for your reply. I will try it out and let you know the feedback. By the way, this is on MT4. What if it is on MT5? Do I do the same as you mentioned? Thanks.

 

[Enivid]

Yes, that should work on MT5 too.