Breakout Master EA

Created by Menaka Sachin Thorat, Version: 1.0

The Breakout Master EA is a semi-automatic expert advisor. In semi-automatic mode, you simply need to draw support and resistance lines or trendlines, and the EA will manage trading for you. This EA can be used for any market and timeframe. However, backtesting is not available in semi-automatic mode.

The EA allows you to specify the number of trades to open when a breakout occurs. All trades are opened with stop loss and target orders. There's also an optional breakeven function to help secure profits. You can set the stop loss to the order open price, or opt to open the order and use the Parabolic indicator as a trailing stop.

How does it work?

The EA identifies trendlines or horizontal lines on the chart. When the price crosses above a resistance line, a buy order is initiated. Conversely, when the price crosses below a support line, a sell order is initiated. Similarly, crossing above the upper trendline triggers a buy order, while crossing below the lower trendline triggers a sell order.

Notes:

You can use any indicator to create objects on the chart, like support/resistance levels and trendlines. If only one trendline is detected, it acts as both the upper and lower trendline. Remove any unnecessary trendlines and horizontal lines to avoid the EA executing trades based on outdated lines. Make sure to use two lines, either support and resistance or upper and lower trendlines, to ensure trades open correctly. The PSAR trailing stop is supported for all open orders, including manual ones.

EA Basic Inputs:

• removeGrid: If true, removes the grid from the chart.
• ShowStatus: If true, displays status messages.
• LotSize: The lot size for each trade.
• TakeProfit: The take profit in pips.
• StopLoss: The stop loss in pips.
• TrailingStop: The trailing stop in pips.
• MaxNumberofPositions: The maximum number of open positions.
• PointsBelowRange and PointsAboveRange: Additional points below and above the range for order placement.
• EnableTrailingStop: If true, enables the trailing stop function.
• PSARStep and PSARMax: Settings for the Parabolic SAR trailing stop.
• EnableBreakeven: If true, enables the breakeven function.
• OrderTypeFilter: Filter for applying breakeven (all orders, buy only, sell only).
• MinimumProfit: Apply breakeven after reaching this profit.
• AdditionalProfit: Additional profit to secure with breakeven.
• Auto_Support_Resistance: If true, automatically draws support and resistance lines.
• Auto_Trendline: If true, automatically draws trendlines.
• UseTradingTime: If true, applies a trading time filter.
• TradingTimeStart and TradingTimeEnd: Start and end times for trading.
• UseMaximumPercentageatRisk: If true, uses a maximum percentage at risk for each trade.
• MaximumPercentageatRisk: The maximum percentage of account balance at risk.
• UseLotManagement: If true, uses lot management.
• LotManagementType: The type of lot management.
• ReductionFactor: The reduction factor for lot management.
• MagicNumber: Identifies positions for the EA.