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An MT5 expert advisor that places at most one trade per day on a breakout of the early-morning range, using a trend filter, a stop loss, an ATR trailing stop and an end-of-day exit. It is built mainly for USDJPY on M5.
Get one message the moment it launches, with its price.
Range Breakout Day Trader is an intraday expert advisor for MetaTrader 5. It waits for the quiet early hours of the trading day to form a price range, then takes at most one trade if price breaks out of that range, and it closes any open position before the day ends.
The expert advisor measures the high and low of a fixed window that starts at 1:00 and ends at 6:50 server time, assuming a GMT/UTC+2 broker clock. After the window closes, it watches for price to move beyond one side of the range. A built-in trend filter is used to judge whether a breakout in that direction is worth taking.
You can have the expert advisor send a push notification or email when the trade reaches a chosen profit level. Some users use this to review the trade manually. Changing the default exit behaviour or mixing it with manual trading adds risk, so make such changes carefully.
The main focus is USDJPY on the M5 chart. The author also names GBPUSD and BTCUSD. Because the range window and closing time are tied to specific hours, a symbol with different session behaviour may need its own testing and time adjustments. A low-spread account matters because trades are short and costs take a larger share of each result.
Exact input names and default values can differ, so open the inputs tab after attaching the expert advisor and read each field. The areas you will normally find are listed below.
| Area | What to check |
|---|---|
| Risk mode | Preset risk levels, from lower to higher |
| Lot size | Risk-based percentage or a fixed lot |
| Range times | Start and end of the range, matched to your broker's server time |
| Closing time | When open trades are shut at the end of the day |
| Trend filter | Whether the filter is active and how it is configured |
| Trailing stop | ATR-based trailing and the profit level that starts it |
| Equity drawdown | Optional maximum allowed drawdown as an extra safeguard |
| Alerts | Notification or email at a chosen profit percentage |
Trading carries risk, and past results do not predict future ones. A stop loss and an equity drawdown limit can reduce losses but cannot remove them, and slippage or gaps can still affect fills. Test on a demo account first and only risk money you can afford to lose.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (expert advisor) |
| Strategy focus | Trend, Grid, Breakout |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Strategy | Daily range breakout with trend filter |
| Main market | USDJPY; GBPUSD and BTCUSD also mentioned by the author |
| Timeframe | M5 |
| Trade style | Intraday, one trade per day, closed at day end |
| Position sizing | Risk-based lot size or fixed lot size |
| Account advice | Low-spread ECN or raw account; VPS suggested |
| Alerts | Push notification or email at a set profit level |
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No. This version is written for MetaTrader 5 only and will not load in MT4. Check that your broker offers an MT5 account before buying.
The design centres on USDJPY on the M5 chart. The author also mentions GBPUSD and BTCUSD. Test any other symbol in the Strategy Tester first, because the range times and trailing logic were tuned for one market.
The defaults are meant for brokers whose server time is GMT/UTC+2 with daylight saving changes. If your broker uses a different server time, shift the range and closing times so they match the same market hours. Confirm your server time in Market Watch before running it live.
It is described as opening a single position per day with a stop loss, and not using grid, hedge or martingale recovery. Verify this yourself in the Strategy Tester and on a demo account before trading real money.
The lower-risk presets are intended for that use, but prop firm rules differ, including drawdown limits, news restrictions and allowed trading hours. Read your firm's rules and test the settings against them.
The author recommends a low-spread ECN or raw account, a VPS for continuous running, and gives a small minimum deposit. Requirements depend on your broker, lot size and risk setting, so check contract specifications and margin before going live.
Range Breakout Day Trader
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