Pending Breakout
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Pending Breakout. As the name suggests, the idea behind it is breakouts from a range. It places pending orders, moves the stop behind price and has a trading-hours filter. It has 18 settings, for example MM, Use Money Management (default true) and Risk Percent (default 2). 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 Pending Breakout
Pending Breakout is an expert advisor (trading robot) for MetaTrader 4. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and trades only in the hours you set (time filter). It has 18 settings, such as MM, Use money management and Risk percent. MQL source code included.
It also can size trades from your balance and risk percent and trades breakouts.
Files in the download: Pending Breakout.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 |
|---|---|---|
| MM | Money Management | |
| Use money management | true | |
| Risk percent | 2 | Risk per trade (percent of balance) |
| Fixed lot size | 0.1 | |
| TS | Trade Settings | |
| Magic number | 101 | Magic number that tells this EA's orders apart |
| High low bars | 8 | |
| Take profit | 0 | Take profit distance |
| BE | Break Even Stop | |
| Use break even stop | false | Move the stop to break-even |
| Minimum profit | 0 | |
| Lock profit | 0 | |
| TI | Timer | |
| Start hour | 0 | Hour when trading starts (server time) |
| Start minute | 0 | |
| End hour | 0 | Hour when trading stops (server time) |
| End minute | 0 | |
| Use local time | false |
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 · Pending Orders · Trailing Stop & Break-even · Time Filter · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code