Breakout

Breakout Expert Advisor is a VertexFX client-side script that trades breakouts based on Daily bars. The concept behind this Expert Advisor is that when the price breakouts out the previous day’s High or Low, it is an indication of a strong trend in that direction which can be traded with a high probability of success.

Entry Rules

1. Entry rules are evaluated only between the configured times of the Expert Advisor, which is from MondayHour on Monday uptoFridayHouron Friday.
2. Entry rules are evaluated only if there is no open position.
3. BUY trade is initiated if the current Ask price has crossed above the previous day’s High. The stop-loss is set to SL points, the take-profit is set to TP points. The lot-size is calculated based upon the UseMM parameter, either as fixed lot-size (Lots) or based on risk-per-trade (PercentMM).
4. SELL trade is initiated if the current Bid price has crossed below the previous day’s Low. The stop-loss is set to SL points, the take-profit is set to TP points. The lot-size is calculated based upon the UseMM parameter, either as fixed lot-size (Lots) or based on risk-per-trade (PercentMM).
5. When trading on Monday, the previous day is consider as Friday even if there is data available for the Sunday. In other words, the data for Sunday candle is ignored. If a position is opened, the Expert Advisor tracks it using a trailing stop to protect the profits.

Breakout Expert Advisor can be attached and traded on a chart of any-time frame, however, it uses daily price bars internally for its calculations.

Configurable Inputs

1. MondayHour – The time (hour) on Monday when the Expert Advisor is started. For example, if this value is 9, then the Expert Advisor starts at 9 am on Monday – it remains inactive before 9 am Monday.
2. FridayHour– The time (hour) on Friday when the Expert Advisor is stopped. For example if this value is 14, then the Expert Advisor stops trading at 2 pm on Friday.
3. TrailingStop – The trailing stop in pips used to trail a profitable position.
4. TP – The take-profit in pips of the trade opened by the Expert Advisor.
5. SL – The stop-loss in pips of the trade opened by the Expert Advisor.
6. UseMM – Specifies whether to use fixed lot-size, or to calculate the lot-size based on risk per trade as specified by the PercentMM. If this value is TRUE, the lot-size is calculated based on the stop-loss SL and risk-per-trade specified by PercentMM. If this value is FALSE, the lot-size specified by Lots is used.
7. PercentMM – The maximum risk-per-trade in percentage used to calculate the lot-size if UseMM is set to TRUE.
8. Lots – The fixed lot-size to use if UseMM is set to FALSE.

Usage

• Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
• Copy it to your company VertexFX Local VTL Files folder i.e. C:ProgramDataVertexFX Client Terminals”Company name”VTL10Local VTL Scripts
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.