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Semi-Automated Trading at Support, Resistance, and Breakout Levels

Article MQL5 code base
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Summary

The document describes an expert advisor for semi-automated trading from levels that a user defines manually. The trader marks a support or resistance level, or a breakout level, on the chart; the EA then places orders according to a direction chosen in advance. The described workflow uses drawn chart lines to communicate those levels to the program.

One exit behavior is specified: when the false-break-close setting is enabled, the order closes if the entry candle reverses and finishes in the wrong direction. This offers a rule for responding to a failed move, but the document does not explain how levels are selected, how entries are triggered in other cases, or how risk and position size are managed. It provides no test results or evidence of profitability, and the brief instructions are insufficient to reconstruct the full system.

Key ideas

  • The EA automates orders around support, resistance, or breakout levels selected by the trader.
  • The trading direction is predefined, and chart lines can mark the levels used by the EA.
  • With the false-break-close setting enabled, a position closes when its entry candle ends in the wrong direction.
  • The document does not specify broader entry, sizing, or performance rules.

Tags

BreakoutTechnical indicatorsExecution

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