Daily Range Breakout Optimizer

Daily Range Breakout Optimizer

Daily Range Breakout Optimizer is an expert advisor implementing a breakout strategy based on the previous day’s range, with filtering by market structure and trend. Suitable for testing and trading on various symbols, it calculates the daily range, applies filters, and places Buy Stop and Sell Stop pending orders, with position management via breakeven and time limits.

How It Works

At the start of a new day, the advisor analyzes the previous day’s range (high, low, open), sets entry levels, and places pending orders. Upon breakout, a trade is opened with predefined Stop Loss and Take Profit. Unactivated orders are deleted, and open positions are closed after a specified holding period.

Key Features

• Calculation of the previous day’s range
• Filters: NR7, inside bar, ATR, trend (EMA or candle)
• Buy Stop and Sell Stop pending orders
• Position management: breakeven, forced closure
• Customizable parameters: lot size, SL/TP, holding time

Recommendations

• Use on daily charts
• Select symbols based on volatility
• Test thoroughly before live trading

Additional Information

Detailed instructions and parameter descriptions (LotSize, EntryDeltaFactor, TrendEMAPeriod, etc.) are available in the comments section or the author’s blog on MQL5.com.

Disclaimer

This advisor is intended for analytical and research purposes. The author is not responsible for financial outcomes. Test and adjust parameters independently.