Cyclic Range Breakout (Martinale) - MetaTrader 5 Expert - MT4/MT5 Resources

Taking the closing price of a certain hour on a certain day of the week as a reference, if it exceeds the user-specified daily average price range by a percentage, the expert will initiate a buy on an increase or a sell on a decrease. Take profit and stop loss levels are determined by a user-defined percentage of this range.

Maybe, you all know the martingale strategy, where every loss doubles the trading volume. This is a very dangerous strategy unless you don't know how much you will lose in a row. Plus, as long as you know the maximum number of steps you can lose, this is the fastest way to make up for your losses. In this expert, previous accumulated losses are also taken into account and losses are covered in the shortest possible way by adding them to the take-profit and stop-loss levels of the next trade.

Attachment download

📎 rangebreakout.mq5 (7.74 KB)

Source: MQL5 #30560