Horizon Trading · Transcript · · Updated
Free Range Breakout Trading Robot | Asian Session Breakout Strategy – Transcript
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Summary
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- The range breakout trading robot draws a box around price action using start and end times to place a buy stop at the high and a sell stop at the low.
- The robot settings include range configuration, risk management, order settings like magic numbers, and entry settings covering stop loss, take profit, and trailing stop options.
- A downloadable set file for the Asian session breakout strategy on gbpusd was back tested over 9 years from 2015 to 2024 and achieved a profit factor of 1.2.
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Transcript
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this is the range breakout trading robot it's designed to trade session breakouts as well as opening range breakouts in this video we're going to run through how to use it how it works and what each of the settings do so just quickly before we get started you can download this for free on the metatrader store links in the description it's only going to be free for a limited time so make sure you download it you could also join my free telegram group that Link's in the description also that's where you could find the set file that we talk about at the end of this video now I'm sure many of you might already know but
for a quick explainer of what a range breakout robot is essentially the robot will draw a box around price action using the start and end time in your settings while the box is forming the robot will be constantly updating and getting the highest high in that range and the lowest low in that range then once time passes the end time you get the complete price range then places a buy stop at the High and a sell stop at the low so with this range breakout robot you could trade two very popular strategies the Asian session breakout or
an opening range breakout I'm not going to go too in depth in them now but I'll leave some links in the description description if you want to know more but essentially both these strategies involve drawing a range around price and you buying on the breakout and then selling on the breakdown so now you know what it is now wonder how to use it so once you've downloaded the robot from the metatrader store just click and drag the robot onto your chart here you'll see all the settings to make this as versatile as possible I added in loads of different options in the settings
that you can play around with them tweak them yourself come up with different unique combinations so let's run through the settings and I'll explain how everything works so the settings are split up into different sections You' got the first section the range settings the section is pretty basic you just control the color of the range and then you've also got the start and end time that you need to set next is risk management here you could control whether you risk a fixed lot size or a percentage of your account
balance next we have order settings here you can change the magic number now it's important to have a different magic number for each instance of this robot that you're trading so if you've got two instances of this robot running on your account it's important to have a different magic number for each robot allow both directions this one's pretty self-explanatory if you've got this set to false as soon as one buy stop or sell stop gets triggered the other one immediately gets deleted otherwise if
you've got this set to true it would allow both directions next we've got close trades at a certain hour and close orders at a certain hour this is pretty straightforward as well the robot will automatically close trades at a given hour or cancel orders at a given hour if you want to turn these off to zero so the final section is the entry settings now this section starts off with the risk options there are two risk options
that you could use the session or Pips now if you chose your risk option as Pips you get to set your stop loss just below in Pips there that just works as normal if you set your risk option the session you can set your stop loss on a percentage based on the session so so what that basically means is that you could set your stop loss at 100% that would mean that your stop loss would be on the other side of the range or you
could say you set it at 50 which would be like halfway in the range 50% of the range next we have the take profit section now there is actually an option to have a partial TP by default it's set to zero for off but you could set that to anything you like in Pips as well as the partial TP close and that's in a percentage so by default that's 50 % it will close half of your position but you can change that to anything you like as
well then finally we've got the final TP again you could set that to zero for it turn it off otherwise it's in Pips finally we've got an option to activate a trailing stop loss so you could turn this either on or off then you get to set the trigger distance so this is how far price needs to move from your entry price for the trailing stop loss to get triggered then you can set the trailing distance that is how far once triggered the trailing stop loss Will trail behind
current open price now if you're wondering with all these settings where to even get started I've gone ahead and Tak Liberty for you I've created a set file that you can download from my free telegram uh links in the description so this set file is an asan session breakout strategy it's for gbpusd it's 9 years back tested from 2015 to the beginning of 2024 and you can see it's got a profit factor of 1.2 and yeah that's going to be it for
this video if you got any questions be sure to leave a comment below also be sure to like And subscribe it really helps out my channel otherwise thank you very much and thank you for watching