StrikerFBo

Semi-automatic Expert Advisor StrikerFBo is designed to trade false breakouts of levels (one bar, two bars, complex false breakout). It was written primarily for trading stocks and their CFDs. For its operation, it is necessary to place a horizontal line on the chart, on which the robot will be guided to enter a position. Checking this Expert Advisor in the strategy tester is meaningless for this reason. StrikerFBo can be used on demo and live accounts.

The Expert Advisor has the following parameters:

• OrderType - Order type, set manually or by the FBoFinder  service (based on the automatically determined trade direction).
• Buy
• Sell
• None (do not set this value) - The value is exclusively for the product to pass validation on the MQL5 Market. Cannot be used in work.
• Hard conditions for False Breakout patterns - hard conditions for testing false breakout patterns. The alignment of the open and close bars is taken into account. (Version 1.1)
• TimeFrame - all available timeframes for trading, D1 by default.
• Volume type
  • Shares - specify the number of securities for trading in the field below.
  • Volume Coefficient (2.5 x 20 leverage = 50 shares) - this parameter forms the volume based on the leverage provided by the broker per share. The smaller the leverage, the more funds are used to buy securities. The specified ratio will make it possible to balance the allocated funds for trading. But the difference in volume between the 20th and 4th arms will be significant (with c = 2.5, 50 and 10 securities will turn out, respectively, since the difference is 5 times). Specify the coefficient in the field below.
  • Risk,% - the percentage of risk on the deposit. Percentage of the size of the deposit that the trader is willing to donate to Stop Loss. The Expert Advisor sets Stop Loss for the breakout bar. Specify the risk percentage in the field below.
• Volume value - the value of the volume type selected above.
• Interval to place limits (ATR percent) - offset from the level for placing a limit order. If the instrument opens in the middle of this interval, then the deal will be executed at the market.
• Ratio Profit: Loss - the ratio for Take Profit in relation to Stop Loss (3 to 1 or 4 to 1, etc.). The field contains one number (3, 3.5, 4 or your own version).
• Bars count for ATR calculation - the number of bars to calculate the ATR (average price movement).
• Maximal spread - the maximum spread size for placing a limit order (or for entering a position).

To automate the use of this Expert Advisor and make it easier for a trader to select securities for trading false breakouts, there is a FBoFinder service that opens charts with found false breakouts among hundreds and thousands of stocks from Watchlist, draws a horizontal level line and puts StrikerFBo on the chart.