Brakeout
From the Old Kings archive: Brakeout, an expert advisor (trading robot) for MetaTrader 4. It places pending orders. It has 6 settings, for example Lots (default 0.1), Take Profit (default 80) and Stop Loss (default 50). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. 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 · v1.0 · Free
About Brakeout
Brakeout is an expert advisor (trading robot) for MetaTrader 4. It places pending buy/sell stop or limit orders. It has 6 settings, such as Lots, Take profit and Stop loss. MQL source code included.
Files in the download: brakeout.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 |
|---|---|---|
| Lots | 0.1 | Trade size in lots |
| Take profit | 80 | Take profit distance |
| Stop loss | 50 | Stop loss distance |
| Loss free | 30 | |
| Shift gmt | 1 | Bar shift (0 = current bar) |
| Min stop | 11 |
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: Pending Orders · MT4 Expert Advisor · MQL4 Source Code