Pound Breakout MT5

Pound Breakout MT5

is an Expert Advisor for GBPUSD that trades breakouts from a parallel sideways channel and offers impressive additional trading features.

>>> Importand note before purchase. Please read first: https://www.mql5.com/de/blogs/post/763901

>>> Channel: https://www.mql5.com/en/channels/01be7ce9c7a4db01

The basis of the Pound Breakouts strategy is that the London trading hours are one of the most liquid and trading periods in the forex market. When the London Stock Exchange opens, the Asian market has not yet closed, and the European market is just opening. Furthermore, the US stock market is preparing to begin trading in the (European) afternoon.

This high liquidity and high trading volume lead to spontaneous and remarkably powerful price breakouts. Especially in the early morning hours, when certain price ranges are broken, traders have buying or selling opportunities.

Furthermore, major financial institutions and banks are actively trading during the London trading hours. This amplifies price movements and often generates a clear trend for the trading day.

The onscreen panel provides a detailed overview of the system and market status. It also includes buttons for active traders to manually place additional sessions and/or market orders at any time. This allows them to take advantage of further promising trading opportunities during daily market movements or to manually add orders.

Unlike Martingale or Grid strategies, Pound Breakout MT5 does not use such strategies and protects orders with fixed stop-loss limits. Profits are realized through virtual profit trailing and start at the preset "Profit Trail Activation" level or higher when the indicator-controlled (ATR) value exceeds the preset value.

Pound Breakout MT5 is spread- and delay-sensitive. Therefore, we strongly recommend using hedge ECN accounts such as "RAW", "Razor," and others with reliable brokers such as IC Markets, FP Markets, Tickmill, etc. However, standard accounts are not recommended due to their typically high spreads!

The integrated news reader/trader provides quick chart information on current news events and allows you to set up trading breaks before news with high market impact. This feature is highly recommended, as breakout strategies can sometimes fail if the broker does not execute the order at the specified price or if spreads become very wide due to extremely high demand. This is especially true for interest rate decisions and the release of nonfarm payrolls (NFP). For continuous operation, the Expert Advisor should also be installed on a VPS with low-latency locations, such as New York or London.

Installation takes place on the GBPUSD chart. The selected timeframe is irrelevant and can be changed at any time during the Expert Advisor's operation without affecting its performance. It also only considers trades with the same magic number and symbol. Manually entered trades should therefore be entered using the "BUY"/"SELL" buttons if they are to be included in the Expert Advisor's profit/loss calculation.

The session opens at GMT time and does not need to be adjusted. All other trading time settings are taken from the broker account's server time. For clarity, the GMT hour is displayed next to the server time in the onscreen panel.

>>> Detailed setup and installation instructions: https://www.mql5.com/en/blogs/post/761355

>>> Tips for choosing the right broker and VPS provider: https://www.mql5.com/en/blogs/post/761471

Features Overview:

Onscreen Panel with Buttons for manual operations and Status information

Trading the GBP/USD in London morning session

Works in any timeframe

Recovery by multiplying the session pattern (no Grid/Martingale)

Fixes Stoploss and virtual Profit trailing

Protection against Fake Breakouts, large slippage and wide spread

Money management including automatic volume adjustment

Onscreen Panel:

Freely movable on chart 

Buttons for:

- Show/hide Panel

- Open additional Buy/Sell market orders

- Open manually individual Buystop/Sellstop sessions  

- Enable/disable new sessions

- Closing of market orders and/or pending sessions

- Display/hide News Events calendar