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Content: Expert: Range Breakout Day Trader MT4 v2.2_fix.ex4 (Unlocked-Unlimited), NO MANUAL.
Range Breakout Day Trader Expert Advisor
Introducing the Range Breakout Day Trader, a safe, reliable, and easy-to-use Expert Advisor designed specifically for day trading the USDJPY currency pair during European market hours.
This EA employs proven trading strategies without resorting to high-risk techniques like Grid, Hedge, or Martingale. It focuses on consistent, low-risk profits by trading only once per day and automatically managing risk.
How It Works
The EA identifies the daily price range formed between 1:00 and 6:50 AM (GMT/UTC+2).
After the range breakout, it opens one position per day with a fixed Stop Loss.
Positions are closed automatically at 19:55 PM to avoid overnight swap fees.
A trailing stop activates once a profit threshold is hit, locking in gains while allowing profits to run.
An integrated trend filter improves the accuracy of trade direction.
Optional alerts notify you via push notification or email when certain profit levels are reached — so you can manually adjust take profits if desired.
Safety & Risk Management
Single trade per day, minimizing exposure
Stop Loss always in place, no risky money management methods like martingale or grid
Optional maximum equity drawdown to auto-close trades if losses exceed your set limit
Designed with Prop Firm challenge compatibility in mind (LOW and EXTRA LOW risk presets available)
Avoid trading on high volatility news days to reduce slippage risks
Recommended Settings & Requirements
| Feature | Recommendation |
|---|---|
| Currency Pair | USDJPY |
| Timeframe | M5 |
| Minimum Deposit | $100 |
| Account Type | ECN, Raw or Razor with low spreads |
| Spreads | Ideally 0-3 points (5-digit quotes) |
| Leverage | 1:500 (if using high-risk settings) |
| VPS | Recommended for stable 24/7 operation |
| GMT/UTC+2 Time Server | Default (adjust if broker differs) |
Key Features
No Grid, Martingale, or Hedging
Stop Loss and Take Profit always active
Max equity drawdown auto-close feature
Adaptive trailing stop based on ATR
Entry strategy: Daily range breakout + trend filter
Exit strategy: Trailing stop with ATR values
Flexible lot sizing: risk-based or fixed lots
Push/email alerts on profit milestones
Customizable trading days and time settings
News filter to avoid trading during high-impact news events
Detailed Parameters Overview
Time Settings: Define the range period, trade start/end times, and GMT offset
Range Settings: Set minimum and maximum price range height for trade qualification
Trade Settings: Control lot sizing (risk % or fixed), stop loss (points or ATR based), max spread allowed, magic number for trade ID
Equity Drawdown: Set limits for max loss before automatic trade closure
Profit Management: Enable/disable auto-close at profit %, set alerts for early profit targets
Trailing Stop: Adjustable based on ATR with user-defined start profit and multipliers
Trend Filter: Enable to restrict trades to trend direction, with options for timeframe and signal period
News Filter: Avoid trading during news for selected currencies with adjustable impact level and timing
Important Notes
Ensure your max equity drawdown setting is balanced with stop loss size to avoid premature trade closure and unnecessary losses
Recommended to test and optimize on your broker’s demo before live deployment
Manual overriding (disabling default take profit) can increase risk — use alerts cautiously
Follow recommended broker and account settings for best results
Ready to trade smarter and safer with the Range Breakout Day Trader?
Download the latest .set files and start optimizing your USDJPY scalping today!
