Breakout Bar Trend EA - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources

For Expert Advisor to work, you need the BreakoutBarsTrend_v2 custom indicator (downloaded in the MQL5/Indicators folder, where the given Expert Advisor is located).

Its meaning is as follows:

If the distance (in points) from the closing price of the first bar of the trend to the closing price of the next trend is negative, the signal is considered false. Examples of false trend selling (Close[previous] - close[next] < 0, false trend buy close[next] - close[previous] < 0):

notes! If the reversal mode is percentage, the Delta, Stop Loss, and Take Profit parameters must also be set to percentage. If reversals are in pips, then Delta, Stop Loss and Take Profit must also be in pips!

EUR/USD test results for the first half of 2012. Reversal percentage, Delta = 0.3%, Stop Loss and Take Profit equal to 1%.

a) Every reversal entry (number of false signals equals 0)

b) Same parameters, but entry after a series of false signals (number of false signals equal to 3)

Attachment download

📎 breakoutbarstrend_ea.mq5 (10.6 KB)

Source: MQL5 #1397