Consolidation Breakout
Consolidation Breakout is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its name points to breakouts from a range. Its source code uses MACD, moving averages, Bollinger Bands and fractals. It moves the stop behind price and can size trades from your risk. It has 17 settings, for example LEN TREND (default 20), Exit (default true) and USEMOVETOBREAKEVEN (default true). 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 Consolidation Breakout
Consolidation Breakout is an expert advisor (trading robot) for MetaTrader 4 based on MACD, Moving Average, Bollinger Bands and Fractals. It moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 17 settings, such as Len trend, Exit and Usemovetobreakeven. MQL source code included.
Files in the download: Consolidation Breakout.mq4, Best Trading Systems.url.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Len trend | 20 | Main TREND length (bars) |
| Exit | true | Enable Exit strategy |
| Usemovetobreakeven | true | Enable "no loss" |
| Whentomovetobe | 10 | When to move break even |
| Pipstomovesl | 5 | How much pips to move sl |
| Lots | 0.01 | Lots size |
| Maximum risk | 0 | Risk per trade (percent of balance) |
| Decrease factor | 0 | |
| Trailing stop | 40 | TrailingStop |
| Stop loss | 200 | Stop Loss |
| Magic number | 1234 | MagicNumber |
| Take profit | 200 | TakeProfit |
| Fast ma | 1 | FastMA |
| Slow ma | 5 | SlowMA |
| Mom sell | 0.3 | Momentum_Sell |
| Mom buy | 0.3 | Momentum_Buy |
| Fractal num | 10 | Number Of High And Low |
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 · Trailing Stop & Break-even · Risk & Lot Size · MACD · Moving Average · Bollinger Bands · Fractals · MT4 Expert Advisor · MQL4 Source Code