Range Break Scalper

Range Break Scalper is an expert advisor for MetaTrader 5 that trades breakouts from a price range. You choose when the range starts and how long it lasts, and the EA then looks for price to move beyond the high or low of that window.

How it works

Each day the EA measures the highest and lowest prices between the range start time and the end of the range duration. Once the range is set, it watches for price to leave it. A move above the top is treated as a potential long entry and a move below the bottom as a potential short entry. Stop loss and take profit are not fixed pip values. They are calculated as percentages of the range height, so they adapt to how wide or narrow the session was.

If the trailing option is enabled, the EA can move the stop once a position is in profit, which locks in some gain or reduces exposure. At the range close time, it closes all open positions and does not trade again until the next day.

Markets and timeframes

The author tested the EA on USDJPY, EURUSD and GBPUSD, and gives example range windows for DAX and NAS100. Because the range is defined by clock times rather than by a bar count, the most important choice is the time window that suits each symbol. Treat the examples below as starting points only and confirm them against your broker's server time.

Settings

Position size

• Auto Lot Size: switches between fixed lots and risk-based lots.
• Max Auto Lots: upper limit on size when auto lots are on.
• Risk % of the account: the share of the account used to size trades in auto mode.
• Lot size: the fixed volume used when auto lots are off.

Exits

• SL in range percentage and Target in range percentage: stop and target distances as a share of the range.
• Allow Trailing stop and Trailing points: enable trailing and set its distance.

Timing

• Range start time (hours and minutes).
• Range duration (hours and minutes).
• Range close time (hours and minutes).

The default values and any recommended percentages should be checked in the inputs tab after loading the EA, as they are not listed here.

Risk

Breakout systems can suffer from false breaks, widening spreads and slippage around news or session opens. Scalping style trades are also sensitive to broker execution. Test on a demo account and in the Strategy Tester with your broker's data before using real funds, and keep risk per trade at a level you can afford.

Installation

1. In MT5, choose File, then Open Data Folder.
2. Open MQL5, then Experts, and copy the downloaded expert file there.
3. Restart MT5 or refresh the Navigator panel.
4. Open a chart of the symbol you want to trade and drag the EA onto it.
5. Tick Allow Algo Trading in the properties window and set the range times and risk inputs.
6. Make sure the Algo Trading button on the toolbar is enabled.

For continuous operation, run the terminal on a computer that stays on or on a VPS, and check that your account allows automated trading.