Take a Break MT5

Overview of Take a Break MT5

• Take a Break MT5 is an advanced news filter that has evolved into a comprehensive account protection tool.
• It pauses other Expert Advisors (EAs) during potentially unfavorable market conditions.
• The tool ensures that trading is resumed only when market volatility has normalized.

Key Features

• Stop trading during high-impact news events, which helps to avoid sudden market swings 🚀.
• Pause trading when account equity, balance, or margin falls below a specified threshold.
• Allows trading only during specific times, such as the Asian session.
• Automatically close trades for the day when a set profit/loss limit is reached.
• Can be configured as a global filter for managing multiple EAs simultaneously.

Setup Instructions

• Add the URL https://trading.custom-solutions.it to the allowed WebRequest URLs in your MT5 settings.
• Download and configure the FREE Take a Break Indicator to work alongside your EAs.
• Attach the Take a Break EA to a chart and specify which Chart Groups it should manage.

Parameters and Adjustments

• Maximum equity drawdown settings enable proper risk management.
• Time-block intervals can be customized (e.g., how long to stop trading after a loss).
• Trading times can be customized using range formats: e.g., 04:00 - 05:00, 20:00 - 22:00.
• Pause periods before and after news events can be adjusted based on their impact level.

User Feedback and Performance

• Rated 4.69 out of 5 by users who appreciate its functionality and effectiveness in risk management.
• Users have reported significant reduction in losses by utilizing this tool effectively.
• It is identified as an indispensable tool for maintaining trading discipline and managing automated systems 📊.