Forex MeetAlgo Breakout EA uses the strategy based on the breakout. Breakout trading is one of the most popular and most frequently used strategies among Forex traders. This strategy was developed a long ago and has been repeatedly tested on historical data, showing superior results.
This MeetAlgo Breakout EA uses three types of trend breakouts (support and resistance breakout, downtrend breakout, uptrend breakout). It uses a very small SL, so the account is always protected from equity drawdown with a very low risk-per-trade, and It also uses an adaptive trailing stop algorithm. This Free Forex robot contains the algorithm of statistics collection with output on the information panel.
Meet Algo Breakout EA is a flexible and powerful metatrader expert advisor that using several breakout strategy and implements many useful features. It using the ZikZak Breakout, Daily candle breakout, London time breakout, Pivot points breakout and several breakout strategy. It offers many customizable trading scenarios and flexible position management settings, plus many useful features like customizable trading sessions, a martingale and inverse martingale mode.
Breakout EA
- Easy to use and customizable MACD setting.
- Enable Grid trading.
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Implements a martingale features
- Customizable indicator settings
- Filter trading by forex sessions
- Built-in money management
- Built-in news filter. EA automatic download news data from news website.
Four different trading behaviors are available in the EA inputs
- Both Side (Long and Short): The EA will buy at bullish ma crossovers and sell at bearish crossovers signals both trade
- Any Single Side: Open any one trade which signal come first (Buy or Sell)
- Long Side Only: The EA will buy at bullish signals and disregard bearish signals
- Short Side Only: The EA will sell at bearish signals and disregard bullish signals
Additionally, it implements four different money management modes
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will increase or decrease depend on account balance increase or decrease
- Martingale: The EA will double the lotsize after a losing trade
What Is an EA?
Forex Breakout Ea expert advisor may be a software tool that forex traders can use to spot trading opportunities supported promising signals. Forex EAs are almost like forex robots therein they’re wont to automate market pattern identification and generate valuable trading signals, but Forex EAs differ during a key way: Whereas a forex robot is in a position to automatically make trades on your behalf, an EA can’t automate actual trades.
Instead, an EA functions as an intelligent advisory tool that gives recommendations but still requires the trader to execute any proposed trades. These EAs are often found through the MT4 or MT5 trading platforms, but you’ll also build your own to suit your trading strategy.
How to Install MeetAlgo Breakout EA
Step 1: Transferring Files
After you’ve downloaded EA, note the save location on your computer/device. From there, search for the MetaTrader4 folder, which is typically found within a computer’s C drive. Take the first EA files and paste them into the “Experts” folder, agreeing to any admin permission request should it appear.
Step 2: Installing the EA
Boot up MT4, then search for the “Expert Advisors” section, which should be located under the “Navigator” section to the left side of the screen. Then click on the “Plus” icon and choose the EA, which should now appear as available. After the EA has been selected, drag it onto the charts to make sure that it’s active.
Step 3: Adjusting the Settings
In order to urge the foremost out of an EA, you’ll got to adjust its settings. once you do that , a pop-up box will appear, allowing you to tweak the EA as you please. Then you’ll click “OK,” and you ought to be able to go.
