High/Low Breakout Scalper

[scorpion]

This expert advisor buys when price is above yesterday high and sell when below yesterday low. It closes the order when price reaches target net profit (5 pips ) or net loss (-5 pips) or when it's opened for 5 minutes.

Parameters and Features:

• Redefinable breakout pips. (Breakout_Pips = x pips away from yesterday High or Low)
• Order lifetime = 5 minutes. (Order_Life_Mins = x mins)
• Time session filter. (From_Hour, From_Min, To_Hour, To_Min, 00:00 to 24:00 chart time by default)
• Initial stop loss = 3 pips + 2 pips spread = 5 pips net loss.
• Initial take profit = 7 pips – 2 pips spread = 5 pips net profit.
• Mini account support. (Pip_Value = 1 for Mini)
• Multiple pairs support.

Enjoys!

[dazler]

hi scorpion
if u wanted to reverse the buy sell to buy when it said to sell, the same for the sell. how would this be done?
daz

[scorpion]

I knew somebody was going to say this.

Coded for you, but when a position is reversed, it must run additional 2x the spread to get the expected reversal result. Test it (forward testing!)...

[dazler]

thanks dude
daz

[badger]

Originally Posted by scorpion

This expert advisor buys when price is above yesterday high and sell when below yesterday low. It closes the order when price reaches target net profit (5 pips ) or net loss (-5 pips) or when it's opened for 5 minutes.

Parameters and Features:

• Redefinable breakout pips. (Breakout_Pips = x pips away from yesterday High or Low)
• Order lifetime = 5 minutes. (Order_Life_Mins = x mins)
• Time session filter. (From_Hour, From_Min, To_Hour, To_Min, 00:00 to 24:00 chart time by default)
• Initial stop loss = 3 pips + 2 pips spread = 5 pips net loss.
• Initial take profit = 7 pips – 2 pips spread = 5 pips net profit.
• Mini account support. (Pip_Value = 1 for Mini)
• Multiple pairs support.

Enjoys!

Scorpion,

Will this ea work on different time frames other than the daily ??

Thanks,

Dan

[scorpion]

Hi Dan

It will open on breakout of previous bar. On daily chart, previous bar is yesterday. That's the way it actually works. You can attach to 4h to catch breakout of previous 4 hours.

[Ravique]

If someone if using it, post some results please.

[badger]

Originally Posted by scorpion

Hi Dan

It will open on breakout of previous bar. On daily chart, previous bar is yesterday. That's the way it actually works. You can attach to 4h to catch breakout of previous 4 hours.

Hi Scorpion,

Say, if I was going to use this on a 1 hr chart....would I set the order lifetime to 59 min and if not hit in that time frame the order would be cancelled and we would look at the new 1hr bar.....

could you add a trailing stop feature??

Thanks, Dan

[scorpion]

Hey Dan

You can set order lifetime to any minutes you want. (Order_Life_Mins in the settings). You want it to expire in 59 mins, set Order_Life_Mins = 59. Try this.

And trailing stop is there too. Set TS_Mode = 1 will trail the trade SL. Note that it will start trailing only price move more than x pips as specified in TS_Trigger.

These are all in Expert Settings. Check that.

[leon]

hi scorpion can you make some adjustments to this ea for us pls

gr. leon