3 Tier London Breakout EA V1.3b
3 Tier London Breakout EA V1.3b is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its name points to the trading sessions (Asian, London, New York) and breakouts from a range. This copy is version 1. Its source code uses moving averages. It raises the lot size after losses (martingale — high risk), moves the stop behind price and can size trades from your risk. It has 40 settings, for example Send Trades (default false), Lot (default 0.01) and Max Risk (default 0). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.3b · Free
About 3 Tier London Breakout EA V1.3b
3 Tier London Breakout EA V1.3b is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It increases the lot size after a losing trade (martingale), moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 40 settings, such as Send trades, Lot and Max risk. MQL source code included.
It also trades breakouts.
Files in the download: 3-Tier-London-Breakout-EA-v1.3b.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Send trades | false | |
| Lot | 0.01 | Trade size in lots |
| Max risk | 0 | if 0 then use fixed Lots above |
| Magic number | 0 | if 0 then will autocreate a unique MagicNumber |
| Start time | 06:00 | time for start of price establishment window |
| End time | 09:14 | time for end of price establishment window |
| Session end time | 02:00 | end of daily session; tomorrow is another day! |
| Max box size in pips | 80 | max tradable box size; don't trade when box is larger than that value |
| Limit box to max size | true | when true, a box larger than MaxBoxSizeInPips will be limited to MaxBoxSizeInPips. |
| Tp1 factor | 1.000 | if >=10, this will be taken as FIXED PIPs rather than a factor of the box size; |
| Tp5 factor | 4.236 | TP4 and TP5 targets are OPTIONAL: set TP5Factor=0 to allow only up to TP3 target; |
| Tp2 help | TP2 is half-way between TP1 and TP3 | |
| Tp4 help | TP4 is half-way between TP3 and TP5 | |
| Sl factor | 1.000 | if >=10, this will be taken as FIXED PIPs rather than a factor of the box size; |
| Levels resize factor | 1.0 | |
| T ffor reentry | PERIOD_M15 | TF for re-entry: the last closed bar of this TF must close inside the box in order to allow opening |
| Trade comment | 3 Tier London Breakout | Comment written on the orders |
| Max trades allowed per session | 0 | Maximum number of open trades |
| Max losses allowed per session | 0 | |
| Max wins allowed per session | 0 | |
| Break even profit in pips | 1 | lock-in this amount of pips when HalfClose is hit; |
| Move to be factor | 1.0 | move to BE+ when price has covered at least this ratio of TP1; |
| Mart1 | ----MARTINGALE multipliers sequence: | |
| Mart2 | ----not used when first multiplier is 0: | |
| Martingale sequence | 0,1,2,5,13,34,89,233,610,1597,4181 | |
| Auto martingale | false | |
| Slippage | 3 | pips |
| Max spread | 4 | pips; EA won't send trades if spread is higher than this value; |
| Broker is ecn | false | |
| Box color ok | LightBlue | Colour on the chart |
| Box color nok | Red | Colour on the chart |
| Box color max | Orange | Colour on the chart |
| Level color | Black | Colour on the chart |
| Session color | Linen | show Session periods with a different background color |
| Fib length | 12 | |
| Show profit zone | true | |
| Profit color | LightGreen | Colour on the chart |
| Obj prefix | EA-LB2- | Prefixes of London Breakout Indicator objects; |
| Gap | ||
| Other marts | ---Other martingale sequences, in decrea |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Breakout · Trading Sessions · Martingale · Trailing Stop & Break-even · Risk & Lot Size · Moving Average · MT4 Expert Advisor · MQL4 Source Code