ATR-Offset Pending Breakout Orders with Hour Filters

Summary

This expert advisor places breakout entries using pending buy-stop and sell-stop orders, subject to an hour-of-day filter. When a new bar appears during one of three configured hours, it measures the current bar’s high and low and offsets the respective entry levels by the ATR value. The strategy therefore uses recent price range and volatility to set breakout triggers.

Trade size can be set as a fixed lot or calculated from a risk percentage. After one pending order becomes a trade, the advisor deletes the remaining pending orders, and it applies a trailing stop to open positions. The description states that it supports both netting and hedging accounts. It provides no backtest results or details about the ATR period, trailing-stop rules, or how the three permitted hours should be chosen, so performance and parameter suitability cannot be assessed from this account.

Key ideas

• The advisor checks three configured hours before placing orders at a new bar.
• Buy-stop and sell-stop levels are offset from the bar’s high and low by ATR.
• Position size can use either fixed lots or a risk-percentage setting.
• After one entry triggers, the other pending orders are removed, and open positions receive trailing stops.
• The description gives no performance evidence or detailed parameter-selection guidance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.