Automating Minervini’s Trend Template with Forex Breakouts

Summary

This article translates Mark Minervini’s eight-condition trend template into an MQL5 method adapted for forex. It filters for price above the 50-, 150-, and 200-day moving averages, correctly ordered averages, a rising 200-day average, and price positioned favorably within its yearly range. Since the original relative-strength ranking is unavailable for forex in MetaTrader 5, the method substitutes a 14-period RSI above 50.

An entry requires the checklist to pass and a close above the prior 20-bar high with volume at least 1.5 times its 20-bar average. The article describes an Expert Advisor with ATR-based stops, risk-based sizing, and an optional exit below the 50-day average. It reports that the code was compiled and tested in MetaTrader 5, but provides no strategy performance results. The forex adaptation, RSI substitute, simplified breakout in place of full volatility-contraction-pattern detection, and unvalidated short rules limit how closely it reproduces Minervini’s original stock method.

Key ideas

• The template requires all eight structural conditions to pass before an instrument qualifies.
• A 14-period RSI above 50 replaces the unavailable relative-strength ranking for forex.
• The entry trigger approximates a volatility-contraction breakout with a 20-bar high and expanding volume.
• ATR-based stop placement and balance-based risk sizing are included in the Expert Advisor.
• The article supplies no performance evidence, and the short rules are an unvalidated extension.

Tags

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