Range Breakout Bot MT5 tutorial

This tutorial applies to the EA ‘Range Breakout Bot MT5‘ (MT5 version) whose product page is accessible by clicking on the image below:

First of all, this EA alerts (if option checked) when a symbol enters into a range phase. Then, it will wait for breakout of the range (with additional filters if needed) to send an alert and/or to open an order. The main advantage of this EA is that it allows you to customize the specifications of your range.

• ‘Timeframe for bars calculation‘: the min range length will be calculated in this Timeframe.
• ‘Min range length in bars‘: the price must not go outside the range during this minimum of bars.
• ‘Max range size in pips‘: the price must move within this price range.

The 4 parameters mentioned above appear in blue in the graph below:

• It can automatically place Stop Loss on the other side of the range when an order is opened.
• It includes additional filters (moving average, Pivot Points, other filters can be implemented on demand).
• It has a complete management of orders (break even, trailing stop, closing before weekend, max lost/day …).
• It can work with all market watch symbols at once.

Below is the backtest of this EA for EURUSD (default settings) from 01/01/2025:

Detailed features are described on the product page. Below is the list of EA settings with explanations.

Max range size in pips, points…: (Max price – Min price) must be

Minimum breakout distance in pips, points…: the breakout is validated when the price goes out of the range and reaches a minimum distance

-====Filters settings====-

     -=Moving average settings=-

Use a MA: checks if price is above (buy signal) or below (sell signal) this MA

Ma timeframe: all MT5 timeframes

Ma period: period of the MA

Ma method: SMA / EMA / SMMA / LWMA

Ma applied price: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED

     -=RSI settings=-

Use RSI: checks RSI value before opening an order

RSI Timeframe: all MT5 timeframes

RSI period: period of the RSI filter

RSI applied price: CLOSE / OPEN / HIGH / LOW / MEDIAN / TYPICAL / WEIGHTED

RSI shift: shift of the RSI filter

Min RSI value for a buy order: the RSI must be greater than this value to validate a buy order

Max RSI value for a buy order: the RSI must be lower than this value to validate a buy order

Min RSI value for a sell order: the RSI must be greater than this value to validate a sell order

      -=Pivot points settings=-

Daily PP: checks if price is above (buy signal) or below (sell signal) daily PP

Weekly PP: checks if price is above (buy signal) or below (sell signal) weekly PP

Monthly PP: checks if price is above (buy signal) or below (sell signal) monthly PP

Note: the more filters implemented, the fewer orders will be opened. If you find that there aren’t enough open orders, try disabling some filters.

-====Trading settings====-

     -=General settings=-

Allow trading: if false, only alerts are operational

Magic number: must be unique if other EA are running

‘Max open orders’, ‘Max % lost/day’ and ‘Max % win/day’ are calculated from the magic number. For example, if you have 3 EAs with the same magic number, the total number of orders opened will be the sum of the orders opened in those 3 EAs.

Max open orders: max number of orders opened simultaneously (if 0, no max)

Max lost/day (in % of equity): if max value is reached, the EA open orders are closed and no other order is opened until the next day (if 0, no max)

The calculation is based on equity and not balance. In order to speed up the backtests, the calculation is done every hour during backtests, instead of every minute for a real trading session.

Max win/day (in % of equity): if max value is reached, the EA open orders are closed and no other order is opened until the next day (if 0, no max)

Same remark than for ‘Max lost/day (in % of equity)’.

Max drawdown (in % of equity): if max value is reached, the EA open orders are closed and the EA is closed (if 0, no max)

Same remark than for ‘Max lost/day (in % of equity)’, but the calculation is done every 5 minutes (for backtests and real trading sessions).

Close orders before weekend: close all EA orders on Friday

Closing time before weekend: if ‘Close orders before weekend’ is ‘true’

Use money management: if ‘true’, lot size in % balance

Fixed lots size: lot size per order (if ‘Use money management’ is ‘false’)

Lot size in %: % balance per order (if ‘Use money management’ is ‘true’)

Max spread: max allowed spread to open an order (if 0, no max spread)

Warning: if the value of the spread is too low, no order will be opened! To avoid any problem, it is recommended to set the value ‘0’ for the backtests.

Max slippage: max allowed slippage to open an order

     -=SL & TP settings=-

Place SL above/below range: If ‘buy order’, SL is placed below range; if ‘sell order’, SL is placed above range

Multiple of SL for take profit: stop loss distance is multiplicated by x for take profit distance (if ‘Place SL above/below range’ is ‘true’)

SL in pips, points…: stop loss in pips, points… (if ‘Place SL above/below range’ is ‘false’)

TP in pips, points…: take profit in pips, points… (if ‘Place SL above/below range’ is ‘false’)

     -=BE/TS/Grid settings=-

Break even: if ‘true’, break even is activated

Break even profit in pips, points…: triggers the break even from a certain profit in pips, points…

Trailing stop: if ‘true’, trailing stop is activated

Trail profit in pips, points…: triggers the trailing stop from a certain profit in pips, points…

Trail distance in pips, points…: distance in pips, points… between trailing stop and price

Trail step in pips, points…: step in pips, points… for the trailing stop

Open additional orders: an additional order is opened each time the profit reaches a step

Max additional orders (by symbol) : ‘Open additional orders’ must be ‘true’

Profit step in pips, points… to open an additional order: each time the profit reaches this step, a new order is opened

SL in pips, points… of additional orders: SL in pips, points… of the additional orders

TP in pips, points… of additional orders: TP in pips, points… of the additional orders