A Simple London Breakout V.2

Arkan, did you try max wins setting (=1) or re-entry tf?

thanks for answering ! i´m trying with tf 15
If i set max wins 1, an for example win the firdt trade buy, the EA will open a new trade BUY, will open a new trade SELL ?

Thanks !

Hi Guys.
The version of the indicator I have does not draw a box on Mondays, it does however show the monday box in the past. Is there an updated version somewhere? Your help is appreciated. Thanks.

I'm in. Thanks.

I am facing the same problem. Already passed the 03:00 timing that i have set for start of time but nothing appear.

I tried the EA in place of indicator and the same problem....

Hi All,

It was my understanding that Trade will not be initiated when we have the Box reaches the Max Limit.

I have placed 100pip as the max for my GBPCHF pair. it display NO Trade but 3 short position was still opened. Is this normal?

I wanted to stop in here today to let everyone in on some changes that I've requested from sqaulou regarding the EA. I was pondering the other day when I was looking over the indicator sqaulou made up for forexhard's Stairstep Breakouts thread and I had kind of a breakthrough idea for the 3 tier LBO EA. I don't know why it didn't hit me until now, but I'm glad it did.

As you know we incorporated the martingale multiplier parameter where the lot sizes are increased after a loss at whatever the next multiplier is in the sequence, right? Well, I thought about this and it came to me that in order to recoup our losses completely after being stopped out, we should try putting the bulk of the lots into the first few trades of the five that are placed without increasing the amount of lots being traded at each multiplier level. The reason for this is because the first two target points are the key to recouping the losses and the odds of reaching the other three targets diminish rapidly as the trades progress.

For example, let's say our box was 30 pips (see pic below), which would put our TP levels at +47, +77, +106, +134, and +161 pips and we'll use 1 lot per trade as a base. In the first pic below, our first set of trades ended up being stopped out for -150 pips (30 pips x 5 trades of 1 lot each). Normally, the EA would re-enter the next sequence of trades at a multiplier of 2. So then the EA would open 5 more trades with 2 lots each instead of 1 lot each (hence the multiplier). Let's say we hit our first target only then price reversed and stops us out on the other 4 trades, we would end up with +102 pips (+47 pips x 2 (1 trade x 2 lots each) and +1 pip x 8 (4 trades x 2 lots each)).

As you can add up here, we are still -48 pips in the hole and we have not recouped our loss from the first set of trades (-150 pips +102 pips= -48 pips). Normally, the EA would have to re-enter again at the same multiplier since we didn't recoup the loss which puts us at more risk.

Now let's take that same scenario and use the same multiplier value but stagger the lots differently across the 5 trades. The first sequence we used 5 trades at 1 lot each for 5 lots total. Using the multiplier of 2 on the next sequence we had a total of 10 lots in play (5 trades x 2 lots each), correct? Now instead of opening 5 trades, evenly placing the lots at 2 lots each, we place the trades with the first trade being 5 lots, the second trade being 2 lots and the third, fourth, and fifth trades being 1 lot each. Even though we still have 10 lots in play, 70% of the lots are now in the first 2 trades! Placing the trades this way ensures us that we can recoup our losses at the FIRST TARGET! Every level we hit after that is now bonus pips, even if we immediately reverse and stop out! As you can see, we went from -48 pips to +90 pips by just re-organizing the amount of lots placed per trade. We didn't change the multiplier, we didn't change the total number of lots in play per sequence.

Before, when we evenly placed the trades, we had to reach the second target in order to recoup our losses completely, but now with 70% of the lots being used at the first two target levels, we now make the EA even more powerful than before because we are A) decreasing our risk, B) increasing equity in the account faster, and C) not having to repeat a multiplier level to recoup the losses.

I don't know how it could be modified, but if he can, I'd like to see squalou incorporate these trade sizes at each multiplier level. The five numbers after the multiplier are trade 1, trade 2, trade 3, etc... in that order to be placed at that particular lot size with the first trade to automatically close at target 1 and so on down the line.

Multiplier 1- 1, 1, 1, 1, 1 = 5 lots in play

Multiplier 2- 5, 2, 1, 1, 1 = 10 lots in play

Multiplier 5- 12, 6, 4, 2, 1 = 25 lots in play

Multiplier 13- 32, 15, 9, 6, 3 = 65 lots in play

Multiplier 34- 81, 38, 24, 15, 12 = 170 lots in play

Multiplier 89- 213, 100, 60, 40, 32 = 445 lots in play

Multiplier 233- 556, 261, 180, 110, 78 = 1165 lots in play

Multiplier 610- 1453, 682, 400, 295, 220 = 3050 lots in play

Remember, I'm just using 1 lot as a base in these examples. You would most likely be using .1 or .01 lots. So, if you were at a multiplier of 13, and depending what lot size you use a a base, you would have anywhere from .65 to 65 lots in play.

I am using Alpari and its 1 hour ahead on the MT4 than GMT and When I check the indicator it got 06:00 to 09:00 set. So what time do I need to change in the indicator.

I certainly would like this new idea to be incorporated into the EA. The numbers don't lie

The times are pretty flexible. I've seen people use a larger box and go from 00:00 to 07:00 and have success and other have ran the end of their box an hour past the London open. It's totally up to you to play around with the times to find out what works best for you.


You are right, numbers don't lie. I'm just amazed I didn't catch on to it until now. sqaulou is trying to put together a formula as the coding is going to be a little tricky. If we end up with half lots it will be tough to use if the trader is working with .01 lot sizes. I'm trying to see if we can manually input the lot size for each trade at each multiplier level so we can truly fine tune each multiplier level. Me personally, If I'm getting up to a multiplier of 34 or higher, I might want to progressively increase the percentage of the lots toward the first couple of trades, going from say 70% up to maybe 80-85%. So give him some time and we'll see what he comes up with, I'm sure it will be amazing.

Well, I wanted to come in while we are waiting for sqaulou to attempt to incorporate the changes I've mentioned above, I wanted to go over a few pairs and demonstrate the effectiveness of the modifications we are trying to make. I am only going to concentrate on Gbp/Usd as this is generally the most popular pair that a lot of us trade.

Now with the debt ceiling raised and with all the panic with the US losing it's AAA-rating, most of those in the stock markets are getting their asses handed to them in a big way. So, let's see how we did in the trades from last Monday until Friday and see how the new staggered lots performed compared to the original

Now their are a few things I'm doing now that some of you might not be doing. A) In order to not carry over trades, I'm closing all trades, whether in profit or not, at the close of the candle at 00:00 GMT every day. B) Only increase lots after a loss, if we do not recoup losses we stay at the same multiplier until we do or either we get stopped out or close out trades for a loss, then we adjust the multiplier. And C) I've also adjusted my times to 00:00 GMT to 07:14 GMT to show an earlier, more consolidated box than before. If you want to follow exactly, I'm using Go Markets and since they are GMT +1, you'd set your times for 01:00, 08:14, and 01:00. My examples will be using 5 trades per multiplier sequence. If you want to use less, that is up to you, but make sure to adjust the lot sizes accordingly to ensure you get at least 70% of the lots on the first 2 trades. I will post my template here at the end of this post.

On the charts I am going to be as abbreviated as I can to save time. Most of you who are following this thread and are using the strategy already know what my charts look like. If you don't, re-read the thread to get familiar with how the strategy works as I will not answer questions that can be answered by doing a little reading.

Okay, on the chart there will be Black, Red, and Blue boxes. Black is our entry and re-entry points. Red boxes represents a price reversal and all 5 trades are being stopped out. Blue boxes are obviously Profit Targets that have been reached. When we either stop out or reach a profit target, I will place a marker box with numbers in it. When looking at the red boxes, the first number is the multiplier level for that set of trades, the second number is the pips lost. Since the total number of lots from both the old and the new way we divide the lots per trade will be the same at each multiplier level, we will only need one total for our losses because no matter how you divide it up, the total amount of loss will be the same. With the Blue boxes, you will see 3 numbers. First is the multiplier again, second is the pips earned for that target hit using the old lot sequence, and the third is the same except we used the new lot sequence from post #1147 above. If you see a parentheses after a number, that is either the lots size for that particular trade or the total number of pips times the number of trades closed like when we close at 00:00 or on Friday. After you see a few charts you'll get the idea.

Okay, before I start posting up charts, I want to explain that last week was as about as perfect as you can get with this strategy (barring hitting every profit target). I mean we didn't have any reversal stop outs nor did we have to close out trades at 00:00 GMT at a loss. Take a picture as this is a rarity that we might not see for quite a while. I can only attribute this to using earlier start times, but I can't be for certain.

Alright, Monday shows us a 66 pip box with a first target being hit for +106 pips. We just missed Target 2 by .00003 pips, which sucks, but not to say a different broker would show a different result. we ended up closing the remaining 4 trades for +109 pips each at 00:00 GMT for a total of +436 pips. Since we had no stop outs and we never made it past multiplier 1, both profit amounts on the chart will be the same as we enter the same size trades for both the old and new sequence at this level. Only at a multiplier of 2 and higher do the trades sizes differ from the old to the new.

Grand total for the day- +542

$5420.00 @ 1 lot per trade
$542.00 @ .1 lot per trade
$54.20 @ .01 lot per trade

Tuesday shows us a 40 pip box with a first target being hit for +64 pips. We closed out the remaining trades on the reversal at BE +1 for an additional +4 pips. We had a re-entry on the next candle and ended up closing all 5 trades at +7 pips each at 00:00 GMT for a total of +35 pips.

Grand total for the day- +103

$1030.00 @ 1 lot per trade
$103.00 @ .1 lot per trade
$10.30 @ .01 lot per trade

Wednesday shows us a 39 pip box with a first target being hit for +63 pips, second target being hit for +102 pips, and a third target being hit for +142 pips. We ended up closing the remaining 2 trades for +141 pips each at 00:00 GMT for a total of +282 pips.

Grand total for the day- +589

$5890.00 @ 1 lot per trade
$589.00 @ .1 lot per trade
$58.90 @ .01 lot per trade

Thursday shows us a 95 pip box. We ended up closing all 5 trades for +111 pips each at 00:00 GMT for a total of +555 pips.

Grand total for the day- +555
$5550.00 @ 1 lot per trade
$555.00 @ .1 lot per trade
$55.50 @ .01 lot per trade

Friday shows us a 51 pip box with a first target being hit for +82 pips. We ended up closing the remaining 4 trades for +109 pips each at Friday's close of business for a total of +436 pips.

Grand total for the day- +518

$5180.00 @ 1 lot per trade
$518.00 @ .1 lot per trade
$51.80 @ .01 lot per trade


Grand total for the week- +2307

$23,070.00 @ 1 lot per trade
$2307.00 @ .1 lot per trade
$230.70 @ .01 lot per trade

Not too shabby considering we never made it past the first multiplier all week!

Awesome intraday trading results!

Thank you sir, but last week's results really do not show the martingale effect that this strategy is known for, so we'll see how this week goes with the stock drop and all going on.

wow...lol, simply amazing. Guess i need to go to post one and learn how to trade this system.....just read the previous page, good luck with the modifications you mentioned! BTW...did the EA get the same/similar results last week?

The old EA hasn't been modified yet with the new lot parameters, but I'm sure the EA will have different results due to the spread, etc..., but again, when the new EA is finished it will be tested thoroughly before anything is presented here. Since we never had a sequence stopped out last week, the old EA should have been pretty close to my visual backtest.