VR Breakout Level - Trading strategy based on previous high or low breakout - MetaTrader 5 Expert - MT4/MT5 Resources

VR Fault Level - A simple trading strategy based on a breakout of the previous high or low. The period for calculating levels is selected by the user in the settings of the trading robot.

Strategy logic:

At the beginning of a new trading period (selected by the user in the settings), the trading robot records the high and low prices of the previous period. Then, if the price reaches one of these levels, a position is opened in the direction of that level. In other words, if the price rises and exceeds the previous high, the trading bot will purchase the financial instrument at the volume specified by the user in the settings. Set Stop Loss and Take Profit (defined by the user in settings) for all open positions. Positions can only be closed via Stop Loss or Take Profit.

A similar strategy can be implemented using pending orders such as BUY STOP and SELL STOP. The difference is that for pending orders, we need to delete the opposite pending order in time. Placing a pending order signals to the broker the price level at which we intend to enter the market. Use the "Internal" level to hide this information from the broker.

Attachment download

📎 VR_Breakdown_level.mq5 (9.1 KB)

Source: MQL5 #69545