Generic Breakout V5

Didn't you just read that post?!

I'm not back yet!

Ok, this took longer than I had anticipated, but here is the master candle based EA.

Just set the maximum range allowed for teh master candle and the EA will scan back until it finds one.

Thanks. I can't wait to experiment with it...

Ok, I realize this is VERY late.

Generic Breakout Version 5 is here.

Primary features:

1. Breakout Range can work through midnight now.
2. New stoploss feature called "PercentofRange"
   1. This stoploss now takes a percentage of the range and uses that as the stoploss.

3. A note on stoploss: You can enable both Percentage stoploss, and fixed stoploss. When presented with multiple simultaneous stoplosses, the EA will use the tightest stoploss.

I looked around and was unable to find other versions of generic breakout, is there any chance someone can point me in the right direction of where I could find the history and proper use of this ea?

This EA was a result of 7-9AM Big Dog Breakout and NoMoreToxic breakout.

Hi,

Would anyone have a PDF to explain the settings for this EA?

Much appreciated.


Brent

thank you for your effort.
can we use this ea to backtest?
btw, can you add mm into this ea?
my mm is simply
base on the previous trade, if win, the current trade lot would be reduced 1 or min. 0.01, if the previous trade is lost, the current trade lot would be added 1, but max 5 (variable, manual input)
happy trading

Hi Ronald,
Thanks for another of your ea's. Have had it loaded up since 12Apr. Smiley face + trading allowed ticked.
Unfortunately no buy or sells coming. I get the 2 vertical lines showing after about 20secs.
Eventually found the lower horizontal line, down down down at 1. Tried editing the value to about 1.28 or 1.25, but of course ea overwrites it quickly back to 1.
Used brain cell & went Ctrl+B, then checked the H_lines values;
LowerEntry = 0
LowerRange = 1
UpperEntry = 1
UpperRange = 1
Wonder if you could have a look at the changed coding.
Looks different inside to the ver4.
I need another brain cell or 20 to try understanding it more.
Slowly learning it up.

cheers

I cant get generic breakout v5 to trade, I can see the vertical red lines I have set it to trade but It never trades.

I am not sure what all the setting are but I have been through them and I cant see why it wont trade. I cant find a detailed description of this EA parameters so I am not certain I have them all right. Oh and I have read every single posy on the USD BO strategy thread !!

Could anyone post details of parameter that work so that I can check them against mine?

Thanks for the information scalpz. Then you mentioned the integers, I knew exactly what the problem was.

The EA was rounding off to the nearest whole number.

The solution is simple, I changed the associated variables from integer (whole numbers) to double (numbers with decimals).

And to quell any more requests for parameter explanations (just in case some people think it's impossible to guess).

Remark1 = "== Main Settings ==";
MagicNumber = 0; This is the magicnumber of the EA. It's what the EA uses to identify which trades belong to it. If you are using multiple EAs, it's a good idea to make sure each EA has a different magicnumber.
SignalsOnly = False; If set to true, the EA will not place trades, it will only generage any combination of the signals below.
Alerts = False; This is the popup window
SignalMail = False; This uses the mail client, and only works if you have e-mail set up.
PlaySounds = False; This plays the file "alert.wav"
EachTickMode = True; If set to true, the EA takes a trade immediately when the signal is given. If set to false, the EA takes a trade only at the close of a bar.
Lots = 0; Fixed lot size
MoneyManagement = False; EA's MM
Risk = 0; Risk in % for the EA. (Enter as a whole number)
Slippage = 5; The maximum allowed slippage in a trade.
UseStopLoss = True; Enables/Disables Stoploss
UsePercentageStopLoss = True; Enables/Disables Percentage Stoploss
PercentofRange = 50; The percent of the total range (high to low) that the EA will use as its stoploss difference. 10 => 10%, 70 => 70%, etc.
UseFixedStopLoss = True; Enables/Disables the fixed stoploss
StopLoss = 100; Value of the fixed stoploss in pips
Note: You can enable both stoploss options. The EA will use the tightest available stoploss when managing its trades. This applies to all stoplosses and stoploss functions.
UseTakeProfit = False; Enables/Disables the takeprofit
TakeProfit = 60; Fixed takeprofit value in pips.
UseTrailingStop = False; Enables/Disables the trailing stop
TrailingStop = 30; Trailing stop in pips. Only activates if the stoploss is moved past breakeven. (Only trails profits)
MoveStopOnce = False; Enables/Disables the move to breakeven functions.
MoveStopWhenPrice = 50; The profit in pips which triggers the move to breakeven function.
MoveStopTo = 1; The price in pips relative to breakeven that the trade is moved to.
Remark2 = "";
Remark3 = "== Breakout Settings ==";
StartTime = "00:00"; Start time for the range. Needs to be in HH:MM format.
EndTime = "00:00"; End time for the range. Needs to be in HH:MM format.
UseMaxRange = False; Enables/Disables a range filter. This type of breakout works best if the range is less than 50 pips, but I leave that up to you.
MaxRange = 100; Maximum range allowed in pips.
BreakoutBuffer = 10; The area outside the range where the trade is entered.



Questions?

Hey Ronald,

Do these values take into account five digit brokers?

Or do I need to add an extra zero to these numbers?

Cheers

You need to add in an extra 0 where appropriate.

Strange I downloaded the version you attached and set it up with the same parameters as I had before and I got a lot more lines, before I only had vertical lines now I have horizontal ones as well. Looks much more promising.

I don't know if that version was different or if it was me reinstalling the EA but something has changed.

Thanks Raygun.

Where can I download your latest creation?

top of this page...

Hi Ronald,
Thank you for your effort.
Can you make your breakout ea to be able to backtest? i cannot backtest it.
happy trading

You should be able to backtest it.

Any errors in the journal?

unmatch data error (volume limit 414)
broker ODL

What was the lot size?

Signal settings (EA's settings are disable the EA by default)