Variable RANGE Breakout - A exciting new concept in EA trading

VARIABLE RANGE BREAKOUT

This trading concept was conceived by the notion that at particular times of the day, the market can show a defined direction.

Example of this are -

1. After a particular stock market opens.
2. After a significant news release
3. After a stock market closes

It does not use any technical analysis but it based purely on price action and the EA will optionally automatically place trades or just scan the market for trading opportunities. You can trade multiple instruments on a single chart and all trades will be automatically managed.

For the very first time, back testing and optimization is built into the EA.

The scenario is that you nominate the time period of the day to review and once the minimum or maximum prices of the time period are breached (with the option of a buffer) a trading opportunity will be provided to either auto trade or by way of a scan list with the option for a manual trade. Your entries can specify a maximum forward time as well as an option to close the trade based on a time period. This system is excellent for day trading and would normally involve less than 1 hour per day. A number of brokers are now introducing stock CFD's (Contracts For Difference) and grouping a selection of these is a great trading opportunity. In fact any group of symbols whether it be forex, metals, commodities, indicies or stocks can be used.

I have included a diagram explaining the mechanics of specifying the conditions. Whilst this input may appear unusual, it is the look and feel of the upcoming release of Agility Trader 3 (see this post) which will included limitless trading strategies with technical indicators including user indicators.

Please review the video and I look forward to your comments. Note: Allow DLL imports in Tools, Options, Expert Advisors

Update Log
V2.00 - Initial Release (427 downloads)
V2.01 - Update to address display of existing trades
V2.02 - Correction of input parameters
V2.03 - Further update to address display of existing trades
V2.04 - Fix Auto/Scan differences, Low Res display issue, Sell Order logic

List of abbreviations -

Conditions
cl - Close Price
htm - Highest Price within a specified time range. Parameter 1 is End Hour, Parameter2 is End minute, Parameter3 is lookback bars.
ltm - Lowest Price within a specified time range. (as above)
tm - time
nv - Nominated value (Parameters 1, 2 & 3, when used with time, are day of week, hour of day, and minute of hour)
sl - Stop Loss (Parameter 1 is trail size, Parameter 2 is step size)
tp - Take Profit

Condition Joins
and
or1 - or the next condition
or2 - or a combination of the next 2 conditions
or3 - or a combination of the next 3 conditions (and so on)

Comparisons
gt - greater than
lt- less than
ca - crosses above
cb - crosses below
eq - equal to
ne - not equal

ensure each part of the input string is separated by a space.

(The EA will automatically check the correct count of each parameter)

Dave, you have just done trading so much easier Even I can use it...Thanks for sharing this piece of (forex)art...
Sorry, but how long will it take to get the license key?

Thank you for your kind comments.

You should have it within a couple of minutes. Please PM me if you haven't received it and I will reply with the key.

Got it...Looking forward to test it out next week....Thank you again...Have a nice weekend...

WOW

Hi Dave;

Many thanks for the this excellent EA. Would you please send me the "License Key".

Have a nice weekend and Many thanks.

Just fill in the registration details on the the webpage to which you are redirected and you will have the key within a couple of minutes. Alternatively PM me with your email address and I will email it directly to you.

Can this system be tested with AgilityTrader2? and how?

Superb work Dave.

Well done.

Thank you Dave for your EA, I have registered on the website and obtained a license key.

quick couple of questions-

has this a lot size setting built into the EA or will it open random lot sizes?

Is there a minimum amount in account needed to work this EA?

Is there a certain amount of time until license runs out?

once again thank you for your hard work in creating this EA!

-Lewis

There is no highest or lowest function within a specified time period in AT2. Only within a number of bars backward. You could get around it with an additional time condition.

hi Dave,
What is ur recommended settings ?
Shall it be run by default ?

143 downloads, and ONLY 4 Thank You's!!! YOU who download what Dave C have shared here, say at least these two words, he deserves it...

There are obviously no recommended settings because it is your choice of instruments and trading scenarios whether it be trading for example after a news release or market open or close or any other criteria.

It is up to you to make your own discoveries through optimization.

yesterday i have sent you email about request of license key but did not receive any response yet

thank you dave.back test results are for 1 day or a week. how to set lot size

just down load the zip file . unzip and load the expert adviser and templete.when you load the ea it will show a message regarding registration on that enter your name and email address with in a second license key will be email

I think previous week..but i also want dave to answer this question

Thanks Dave for the new EA.
From where get the EA the data? I am using default setting as I have downloaded, but having totally different result (backtest) from your on the video. Do I have to download or install any data feed?
Regards