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Session Range Breakout Trading with Range-Sized Targets

Article MQL5 code base
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Summary

This automated trading method defines a daily time window, records the minute-based highs and lows within it, and marks those boundaries as a consolidation range. After the range closes, the system compares a later candle’s close with the range boundaries. A close beyond a boundary triggers a buy or sell order in the breakout direction.

The described trade uses a take-profit distance equal to the range width and a stop at the opposite boundary. The example specifies a range from hour 5 to hour 11 and a trading cutoff at hour 22 on EURUSD. These settings illustrate the schedule and do not constitute evidence of profitability: no backtest, execution assumptions, spread treatment, or risk sizing is provided. The description also leaves details such as time zone, candle timeframe for confirmation, and handling of repeated signals unspecified, so results would depend on implementation and market conditions.

Key ideas

  • The EA builds a daily price range from minute highs and lows during a chosen session window.
  • It enters in the direction of a later candle close beyond the range boundary.
  • The take-profit distance equals the range width, while the stop is placed at the opposite boundary.
  • The example provides EURUSD session hours but no performance evidence or complete execution specifications.

Tags

ForexBreakoutExecutionRisk management

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