Range Break EA uses a time range trading strategy. The market often finds its direction in the morning hours and then follows this trend throughout the day. This EA is designed to trade these trends after the morning breakout. It does not use any martingale or grid features and follows a logical concept.

Attention!!! Please read carefully the rules for installing the advisor, and install it correctly. Before publishing, we check everything and publish only those advisors that work on our accounts !!! At least at the time of this article’s publication. Also, please note that the name of the adviser has been changed, you can find the original name of the adviser in our telegram channel https://t.me/FX_VIP/2419

Developer price197 USD FREE for you
TerminalMT4
Currency pairEURUSD, USDJPY
TimeframeM5
Money managementAt least 100 currency units for each currency pair
Recommended brokersIC Markets
For advisor recommended to use VPS 24/5WELLVPS (most affordable Windows server only $ 2 per month) By registering using my link you get a $1 bonus!

Backtesting:

Backtesting was not conducted, as there is a live signal on the account from the author, detailed statistics below

Settings:

Description of settings:

<General Settings>
Timeframe Range Calculation: Chart timeframe used for range calculation (always use PERIOD_M1 for live trading and only change in tester if you do not have enough M1 data)
Trading Volume: Mode for the calculation of the lot size for each trade
Fixed Lots: Lot size for each trade if the fixed trading volume mode is chosen
Fixed Lots Per x Money: Uses “Fixed Lots” per each x amount of money in your trading account
Risk Percentage of Balance: The lot size for each trade will be calculated so that the set percentage of your account will be lost if the inital SL is triggered
Order Puffer Points (0 = No Puffer): Orders will be placed x points above and below the range
Target Factor (0 = No TP): The distance form the entry order price to the TP calculated as a multiple of the current range
Stop Mode: Mode for the calculation of the initial SL for each trade
Stop Factor:  The distance form the entry order price to the SL calculated as a multiple of the current range
Stop Percent:  The distance form the entry order price to the SL calculated as a percentage of the order entry price

<Time Settings>
Range Start Hour: Hour for the start time of the daily range
Range Start Minute: Minute for the start time of the daily range
Range End Hour: Hour for the end time of the daily rang
Range End Minute: Minute for the end time of the daily range
Delete Orders Hour: Hour for the expiration time of pending orders
Delete Orders Minute: Minute for the expiration time of pending orders
Close Positions: Decides if open positions are closed at the close position time
Close Positions Hour: Hour for the close time of open positions
Close Positions Minute: Minute for the close time of open positions

<Trailing Stop Settings>
BE Stop Trigger Points (0 = Inactive): The Break Even Stop is activated as soon as a trade is more than the BE Stop Trigger Points in profit
BE Stop Puffer Points: The Break Even Stop will move the Stop Loss BE Stop Puffer Points in profit once it is activated
TSL Trigger Points (0 = Inactive):  The Trailing Stop is activated as soon as a trade is more than the TSL Trigger Points in profit
TSL Points: The Trailing Stop will be trailed in this set distance behind the current market price
TSL Step Points: The SL will only be modified if it is at least this distance above the previous SL

<Trading Frequency Settings>
Max Long Trades: Maximum amount of buy trades on a single day
Max Short Trades: Maximum amount of sell trades on a single day
Max Total Trades: Maximum amount of trades on a single day

<Range Filter Settings>
Min Range Points: Ranges are ignored if they are smaller than the Min Range Points
Min Range Percent: Ranges are ignored if they are smaller than the Min Range Percent
Max Range Points: Ranges are ignored if they are bigger than the Max Range Points
Max Range Percent: Ranges are ignored if they are bigger than the Max Range Percent

<More Settings>
Range Color: Color of the range object in the chart
Order Comment: Commentary for every order the EA places
Magic Number: This number should be unique for every EA in your account since the EAs use it to identify their own trades
Chart Comment: Activates or deactivates the comment in the upper left corner of the chart
Debug Mode: Activate to see more information about the current EA state in the experts journal

Conclusion:

The adviser trades according to a clear concept and according to the classic canons of trading that have always worked and will continue to work, the only thing is that the markets change from year to year and therefore sometimes it is necessary to optimize the adviser, fortunately all the settings in it are quite clear and everyone can figure them out if they want. In the archive with the adviser there is a set file for the EURUSD currency pair with the settings from the developer that he used in his monitoring, the settings for USDJPY are default, but it may be possible to select settings with better trading results. I think you should experiment with the time range settings, and in general you can not stop at trading only these currency pairs, you can check on others, the result may also be good. The developer trades this adviser with the broker IC Markets, this is a good choice, I also recommend this broker, and for stable trading EA, he needs uninterrupted access to the terminal, for this I recommend you this VPS WELLVPS – this is one of the cheapest and at the same time good VPS for Windows, the cost starts from $ 2 and when registering using my affiliate link, you will additionally receive a bonus of $ 1, so you will only need $ 1 to check and try out the first month of use!

Functionality tested, in build 1431 working.

Reminder: As with every trading system, always remember that forex trading can be risky.  Don’t trade with money that you can not afford to lose.  It is always best to test EA’s first on demo accounts, or live accounts running low lotsize.  You can always increase risk later!

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