Previous Candle Breakout EA with Position Caps and Risk Sizing

Summary

This document describes an Expert Advisor that enters when price breaks the prior candle’s high or low, using a selectable candle timeframe from one minute to one month. A moving-average filter can be enabled, and the first trailing-stop adjustment moves the stop to breakeven. Position size is either a fixed lot amount or a risk-based amount; the settings must not enable both or leave both disabled.

The EA limits the number of positions per direction and can enforce a maximum combined position volume before accepting another signal. It can also close all positions once a profit target is reached. The document explains these controls with an example of a volume cap and lists the main inputs. It provides no performance testing or evidence of profitability, and the description does not specify the moving-average rules or how the profit target is calculated.

Key ideas

• The EA looks for breaks of the previous candle at a configurable timeframe.
• A moving-average filter is optional, and the first trailing-stop change moves the stop to breakeven.
• Trade size uses either fixed lots or a risk percentage, but not both or neither.
• Position-count and total-volume limits can prevent additional entries.
• The document describes controls but gives no strategy performance results.

Tags

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