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Manual-Level Breakout Trading with Risk-Based Position Sizing

Article MQL5 code base
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Summary

This document describes an Expert Advisor that trades a manually specified price level. It enters long when the most recent bar closes above the level after the prior bar closed at or below it; the short condition reverses those comparisons. The trader can also restrict the system to buying or selling. These rules define a close-to-close crossing of a chosen threshold rather than a volatility-based or automatically detected breakout.

Position size is calculated dynamically from a user-specified percentage of free margin. The document explains the entry logic but supplies no performance tests, exit rules, or guidance for choosing the level or risk percentage. Its usefulness is therefore as a basic breakout and sizing specification; trading costs, slippage, and the effects of different markets or timeframes are not assessed.

Key ideas

  • The strategy uses a manually entered price as its breakout threshold.
  • A long signal occurs when the latest close crosses above the threshold from at or below it.
  • A short signal occurs when the latest close crosses below the threshold from at or above it.
  • The Expert Advisor can be configured to take only long or only short trades.
  • Position size varies according to a specified share of free margin.

Tags

BreakoutPosition sizingRisk management

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