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Opening Range Breakout MT5

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Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
Accounts: 4
Updates: 1 year
Support: Developer
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EASY Scalperology
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
Accounts: 4
Updates: 1 year
Support: Developer
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EASY Breakopedia
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
Accounts: 4
Updates: 1 year
Support: Developer
Get Free Bot 🚀

What is Opening Range Breakout MT5?

The Opening Range Breakout (ORB) strategy for MetaTrader 5 (MT5) is a popular trading method that capitalizes on the initial price movements of the trading day. This strategy identifies a price range formed during the early minutes of the trading session and places trades based on the breakout of this range. It’s a powerful approach for day traders looking to capture early market momentum.

Key Features of Opening Range Breakout MT5

  • Automatic Calculation: The EA automatically calculates the pre-market range and the initial opening range to find optimal range sizes for trading.
  • Hedging Positions: It hedges positions to lock in fixed losses on range-bound days, providing opportunities to exit on support and resistance bounces.
  • Risk Management: Traders can define risks by percentage of account or fixed lots, ensuring proper risk management.
  • Auto Adjustment: The EA automatically adjusts targets and stops to lock in profit, minimize risk, and let the market breathe.
  • Information Display: An information display panel shows current and closed profit for the instrument being traded.

    • How Does the Opening Range Breakout Strategy Work?

  • Identify the Range: The EA monitors the market to identify a price range with clear support and resistance levels.
  • Wait for a Breakout: The EA waits for the price to break above the resistance level or below the support level.
  • Check the Trend: If the Exponential Moving Average (EMA) option is enabled, the EA checks the EMA to ensure the breakout is in the direction of the trend.
  • Place Trades: When a breakout is confirmed in the direction of the trend, the EA places a trade with either a fixed lot size or adjusted according to the Martingale strategy.
  • Set TP and SL: The EA sets the take profit (TP) and stop loss (SL) based on the range multiplier.

    • Benefits of Using Opening Range Breakout MT5

  • Precision Trading: The strategy provides precise entry and exit points based on market movements.
  • Time-Saving: Automating the breakout strategy saves time and effort for traders.
  • Versatility: The EA can be customized to trade on any timeframe and can be used to trade various ranges, including the Asian session in Forex or just before news events.
  • Continuous Updates: The EA receives continuous updates to improve performance and adapt to market changes.

    • Examples of Opening Range Breakout Strategies

  • USDJPY Breakout from Asian Range: This strategy focuses on the breakout of the USDJPY pair during the Asian trading session.
  • EURUSD London Session Opening Breakout: This strategy targets the breakout of the EURUSD pair during the London session opening.
  • US100 New York Session Opening Breakout: This strategy trades the breakout of the US100 index during the New York session opening.

    • Customizable Parameters

  • Risk Management: Choose from either a fixed lot size entry or a percentage of your account balance based on the range being traded.
  • Targets: Set two separate targets which are multiples of the range being traded. One for a quick profit at the open, and the second for a larger profit if you catch a trend day.
  • Stops: Trailing stops trigger automatically and can be fine-tuned as multiples of the risk being taken.
  • Order Size: Choose a fixed lot size or a percentage to risk from your account balance.
  • Take Profit: Set take profit as fixed points or a percentage of the range, with an option for partial take profit to scale up at a specified time.
  • Stop Loss: Set stop loss as fixed points or a percentage of the range.

    • Trading Tips for Opening Range Breakout MT5

  • Use a VPS: While not mandatory, using a Virtual Private Server (VPS) is recommended to prevent interruptions that could halt the EA's operation.
  • Optimize Settings: Use optimized settings for different trading pairs and sessions to maximize profitability.
  • Monitor Market Conditions: Be aware of market conditions and news events that could impact the effectiveness of the breakout strategy.
  • Start with a Small Account: The EA can be run on a small account with a risk of 1% to 2% per trade, making it accessible for traders with limited capital.
    • With the Opening Range Breakout MT5, traders can harness the power of early market movements to capture profitable trades. This strategy, combined with the automation and precision of the EA, offers a robust tool for traders aiming to capitalize on breakout opportunities. 🚀📈

    Curious about the Opening Range Breakout MT5? This trading system promises to capitalize on the explosive moves at the open of stock indices, but does it deliver? Dive into our comprehensive review where we dissect its mechanics, performance, and user feedback. Is it a game-chang ...

    Release Date: 27/12/2022

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