This is an expert advisor that is based on a simple daily strategy of breakouts congestion zones in the market. Basically what it does is open a buy position if the highest previous daily bar is higher than the 8 previous bars. It also opens a short position if the minimum of the previous bar is less than the minimum of the 8 previous bars. This EA keep a position opened for 5 days or until there is an inverse signal. The trading signals are produced only on Tuesdays, Wednesdays and Thursdays. This EA explicitly controls the opening of new bars and can be tested without ticks simulation
- This EA does not use stop loss levels or take profit.
- It is a EA which makes few trades. On average, it opens 2-3 positions per month.
- It is a low risk EA designed for long term trades.
- BarsToLookUp (default = 8): The number of bars the EA must compare with the last bar to determine whether a breakout has occurred.
- MaxDuration (default = 5): Maximum duration in days (bars) of open positions.
- MinDiff (default = 3): Minimum value of difference in pips between the high or low of the bar to show that a is lower or higher than another.
You can download this Expert Advisor for Metatrader 4 and 5 using the following link: