myPickyBreakout Expert Advisor

myPickyBreakout Forex expert advisor is based on a simple daily breakout trading strategy. It enters long position if the previous bar's high is above previous 8 highs; it enters short position if the previous bar's low is above previous 8 lows. The position is kept open for 5 bars (days) or until the reverse signal is generated. Signals are only generated on Tuesdays, Wednesdays and Thursdays. No stop-loss or take-profit levels are used. The expert advisor explicitly controls the new bar opening and thus can be tested without ticks' simulation.

The back-test of the myPickyBreakout MetaTrader expert advisor on more than 4-year period showed the following results for EUR/USD currency pair, daily timeframe and 0.1 standard lot volume per position — $2,776 net profit on $10,000 starting account with the maximum relative drawdown at 8.15%. It's a long-term low-risk EA.

MiniFAQ

What are the stop-loss and take-profit used by this EA?

How often does it trade?

What unusual input parameters does it use?

• BarsToLookUp (default = 8) — bars (days) to compare with the last bar to determine if the breakout happened.
• MinDiff (default = 3) — minimum amount of pips for difference between bars' highs or lows to consider one higher or lower than another.
• MaxDuration (default = 5) — maximum duration of positions in bars (days).

Downloads

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Discussion

Warning! Before you ask any basic questions regarding installation of the expert advisors, please, read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.

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