Storm Wave Breakout EA #011
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- Storm Wave Breakout EA #011
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- Storm Wave Breakout EA – User Guide
- 1. Overview
- The Storm Wave Breakout EA is an automated trading system for MetaTrader 5 that combines
- three techniques:
- • Bollinger Bands Breakout – Detects when price closes outside the upper/lower band.
- • Momentum Indicator – Confirms breakout strength (above/below the 100 line).
- • RSI Filter – Filters trades based on trend strength and avoids weak signals.
- It also includes money management, spread filter, cooldown between trades, and optional trailing
- stop.
- 2. Entry Logic
- • Buy Entry
- o Candle closes above the Upper Bollinger Band.
- o Momentum > BuyMin (default 100.5).
- o RSI ≥ BuyMin (default 55).
- • Sell Entry
- o Candle closes below the Lower Bollinger Band.
- o Momentum < SellMax (default 99.5).
- o RSI ≤ SellMax (default 45).
- • Close on Reverse (optional): If enabled, the EA closes open trades when the opposite
- signal appears.
- 3. Exit Logic
- • Stop Loss / Take Profit
- o Fixed in points (default SL = 300, TP = 600).
- o Or dynamic: based on Bollinger Band width × multipliers.
- • Trailing Stop (optional)o Activates once trade profit ≥ TrailStartPoints.
- o SL moves by TrailStepPoints.
- 4. Inputs & Settings
- General
- • EA Name → For labeling trades.
- • Magic Number → Unique ID for EA trades.
- • Allow Long / Allow Short → Enable/disable buy or sell.
- Indicators
- • Bollinger Bands: Period, Deviation, Applied Price.
- • Momentum: Period, thresholds for BuyMin/SellMax.
- • RSI: Period, thresholds for BuyMin/SellMax.
- Money Management
- • Use Risk Percent → true/false.
- • Risk Percent → % of balance per trade (if enabled).
- • Fixed Lots → lot size if % risk is disabled.
- SL/TP
- • Use BandWidth SLTP → true/false.
- • SL/TP Multipliers → dynamic based on BB width.
- • SL Points / TP Points → static mode.
- Filters
- • Max Spread Points → avoids high spread conditions.
- • Cooldown Bars → number of bars before next trade.
- • Close on Reverse → exit when opposite signal occurs.
- Trailing Stop
- • Use Trailing → true/false.
- • Trail Start Points → when trailing begins.• Trail Step Points → step size for SL movement.
- 5. Recommended Settings (Example)
- • Symbol: EURUSD
- • Timeframe: M5 or M15
- • Spread Filter: ≤ 30 points (default).
- • Risk Mode: Start with FixedLots = 0.10 for testing.
- • SL/TP: 300 / 600 points (or use BandWidth multipliers in volatile markets).
- • Trailing Stop: Disabled for backtest, can enable live.
- 6. Usage Notes
- • Best for breakout conditions (after consolidation).
- • Avoid high-spread sessions (e.g., rollover times).
- • Always forward-test on demo account before live trading.
- • Optimize RSI, Momentum, and BB settings per symbol/timeframe.
- 7. Example Trade
- • EURUSD M5.
- • Candle closes above Upper BB.
- • Momentum = 101.2 (> 100.5).
- • RSI = 61 (> 55).
- EA enters Buy, sets SL/TP automatically.