Weekly Breakout

Discussion in 'MetaTrader Expert Advisors' started by Enivid, Feb 21, 2014.

  1. Enivid

    Enivid Administrator Staff Member

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    Discuss Weekly Breakout expert advisor here. It is based on a very simple strategy of breakout trading. You can ask any questions about this expert advisor here.
     
    Last edited: Sep 5, 2017
  2. hugo

    hugo Trader

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    Hello Enivid,

    thank you for the new EA!
    Is it possible to let the trade open during the next weeks when the trade is in profit or will every trade close before a new trade during the next week is possible?
    I think it can be better to have more then one open trade during a longer strong trend.
    Will it works for non-forex symbols too?

    Have a nice weekend!

    (There is a little mistake in the link from the EA list to here. Oktat link.)
     
  3. Enivid

    Enivid Administrator Staff Member

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    Yeah. Assuming that you are using MT4 version, just remove or comment out the line #72 in the source .mq4 file. You will have to close positions manually then, of course.

    Should work. Let me know if it does not.

    Thanks for reporting!
     
  4. hugo

    hugo Trader

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    Unfortunately I get 38 errors: "varable not defined".

    Whats the problem?
     
  5. Enivid

    Enivid Administrator Staff Member

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    Did you remove only line #72 or all lines up to line 72?

    Attaching the modified version here.
     

    Attached Files:

  6. hugo

    hugo Trader

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    No, I didnt remove this or other lines. I get the error alert after compiling the normal version.
     
  7. hugo

    hugo Trader

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    I tried it again with the new version on 2 different MT4s. Its the same problem again.
     
  8. Enivid

    Enivid Administrator Staff Member

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    Are your MT4 platforms updated to at least Build 600?
     
  9. hugo

    hugo Trader

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    No, I use an older version. Can this be the reason?
     
  10. Enivid

    Enivid Administrator Staff Member

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    Yes, that's the reason. It won't work in versions older than Build 600.
     
  11. hugo

    hugo Trader

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    I tested the EA during the last week with different symbols and it looks not bad so far.

    What is to remove in the MT5 version to let the trades open?
     
  12. Enivid

    Enivid Administrator Staff Member

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    Line 88.
     
  13. hugo

    hugo Trader

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    Maybe there is a bug in the code (MT5). I started it for different symbols in D1 chart. It works in the most cases but for one symbol it opened 3 orders per direction.
     
  14. Enivid

    Enivid Administrator Staff Member

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    Yeah, there was a bug. It would open a new pair of pending orders each time a timeframe is switched or a platform is restarted. I have fixed it now. Please download a fixed version.
     
  15. hugo

    hugo Trader

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    For using the EA on D1 time frame there is another problem when it runs on a account with a Sunday bar (for example Active Trades) because orders will be made after the start of the week and a short time later again when the monday period begins. And the monday trades will use the one (or few) hour(s) sunday range for SL and money managment.
    Is there a possibillity to ignore the Sunday bar and to let trade the EA on Monday first?
     
  16. mhq

    mhq Trader

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    Im testing this EA on Dow30 stock CFDs, weekly and think that it would be useful not only to continue the trade on the next week(s) provided you are in gain, but the original stop loss should be changed as a trailing stop.
    As an example, you go long, week ends with a 2% gain, the original stop loss will be moved to the previous week candle LOW (high if you went short). That's way you are able to catch strong trending markets. Hope someone can modify this EA in this way.
     
  17. Enivid

    Enivid Administrator Staff Member

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    This EA is not intended to be run on D1, it is for Weekly timeframe only.

    There are too many ways to add TS to this EA. Since my tests did not suggest that it will add a definite and clear benefit, I leave this feature unimplemented. The EA operates on a weekly timeframe, so there should be nothing difficult in moving the stop-loss manually, using any TS rule you deem appropriate.
     
  18. hugo

    hugo Trader

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    For this trade managment maybe it makes sense to use the MT5 version. I think the trade will be closed after a pending order in the opposite direction is triggered.

    @Enivid
    Will the EA use the brokers minimum lot size when the MM calculated lot size is smaller?
     
  19. Enivid

    Enivid Administrator Staff Member

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    Yes, it takes into account the minimum and maximum size allowed by broker.
     
  20. hugo

    hugo Trader

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    @Enivid

    Thank you for your answers!
    Did you tested the EA in different charts simultanly?
    Looks like the MT4 version has problems mith too many charts. I miss some orders. Do you know the problem? Whats the recomned number of charts per account/MT4?
     

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