Open Range Breakout EA MT4 – Documentation

Market-Trader.de · MetaTrader 4 · Version 5.15

EA-Outbreaker – Open Range Breakout

A familiar trading idea, automated: Outbreaker measures a trading range and prepares entries for a breakout upward or downward. You choose the time window and risk settings – the EA handles order management.

1. A Familiar Strategy: Trading the Breakout

The range breakout is an established approach to short-term trading. Well-known variations include the Opening Range Breakout around a market opening and the London breakout. The idea is straightforward: first, the market forms a trading range. When price leaves that range, the trade aims to capture a continuation of the move.

Outbreaker applies this idea using your settings. It measures the high and low of a time window and prepares corresponding buy and sell orders. A widely used strategy is not a profit promise: false breakouts are also part of trading.

Measure the range: The EA identifies the highest high and lowest low during the chosen period.
Prepare the breakout: A Buy Stop waits at the upper boundary and a Sell Stop at the lower boundary. Filters may limit the permitted directions.
Trade the move: Reaching a boundary can trigger the corresponding order. By default, the EA then attempts to delete the opposite order.
Manage the position: Stop Loss, profit target and optional protection features manage the trade.

The range is drawn on the chart, making it easy to see the planned entries and target areas.

2. Get Started in a Few Steps

Install: Place the EA file in MQL4/Experts within the MT4 data folder and refresh the Navigator.
Choose a chart: Open the desired broker symbol and drag the EA onto its chart. Available M1 price data is needed to measure the range.
Enable trading: Allow AutoTrading and live trading. Under Tools → Options → Expert Advisors, allow WebRequest for https://market-trader.de. A valid account license is required.
Check settings: Choose broker times, range window, lot size or risk mode, and stop settings appropriate for your account.
Start on demo: Test the routine with your broker. MT4 must stay running and connected for ongoing management; a VPS can also be used.

Getting started: The EA defaults to fixed 0.10 lots per order. Adjust this for your account. If you switch to percentage risk, the default RiskValue of 3 actually means 3% of the account balance – check this value before switching.

3. Settings When You Need Them

Start with the time window, position size and Stop Loss. Additional features can be added later. Simply expand the relevant group. Field names and defaults match version 5.15; true means on, false means off.

General Settings, Risk and Order Management

Input	Default	Meaning
`UniqueID`	ORB Session	Identifier for this EA instance, used for chart objects, order association and saved session status. Keep it short and unique, preferably using letters, numbers, hyphens or underscores.
`OrderComment`	EA-ORB	Base order comment. The EA truncates it and adds an identifier generated from the UniqueID.
`RiskMethod`	Risk_Fixed_Lot	`Risk_Fixed_Lot`: fixed lots per order. `Risk_Percent`: percentage risk based on the account balance. `Risk_Money`: risk amount in the account currency. The variable modes calculate volume from the planned SL distance and the broker's symbol data.
`RiskValue`	3	In percentage mode, 3 actually means 3% of the balance; in money mode, 3 units of the account currency. It does not affect lot calculation in fixed lot mode. Positive integers only, so this field supports, for example, 1%, but not 0.5%.
`FixedLot`	0.10	Desired lots per order in fixed lot mode. The margin cap, broker maximum and lot step can reduce the actual volume. Must also be greater than 0 when other risk modes are used.
`MagicNumber`	110010	Numeric order identifier. Different values help keep multiple instances separate.
`SlippagePoints`	20	Slippage tolerance passed to the broker for applicable opening and closing orders, in Points. Does not guarantee protection against price gaps or unfavorable stop executions.
`CRV_BOX`	CRV_1_to_1	Range multiplier for the profit box when `TP_Points=0`. 1_to_1 = one range width, 1_to_2 = two, 1_to_3 = three, 1_to_4 = four. 2_to_1 = half a range, 3_to_1 = one third, 4_to_1 = one quarter. The actual reward-to-risk ratio also depends on the stop.
`TP_Points`	0	0: target based on the range and CRV_BOX. Greater than 0: fixed TP distance from the planned entry in Points; overrides the CRV calculation. The drawn box is then extended beyond the range by this distance.
`StoplossModeInput`	SL_Range_HighLow	`SL_Range_HighLow`: buy SL at the range low, sell SL at the range high. `SL_ProfitBox_HighLow`: SL at the opposite outer profit box boundary, i.e. farther away. `SL_Range_Mid`: SL at the range midpoint. Only applies when StoplossPoints=0.
`StoplossPoints`	0	0: selected stop loss mode. Greater than 0: fixed SL distance from the planned entry; overrides the mode. 0 does not disable the SL.
`BreakevenEnabled`	false	Enables automatically moving the SL to the entry price once the profit threshold is reached and broker distance requirements allow it.
`BreakevenPoints`	1000	Profit threshold in Points for breakeven. Commission and swap are not included in the new SL; the entry price therefore does not necessarily mean a net result of zero.
`TrailingMethod`	Trailing_Off	`Trailing_Off`: disabled. `Trailing_With_TP`: trail the SL and retain the TP. `Trailing_Without_TP`: remove the TP only when a trailing SL modification succeeds. Until then, the initial TP remains active.
`TrailingStartPoints`	1000	Profit in Points at which the trailing stop starts operating.
`TrailingDistancePoints`	500	Distance of the trailed SL from the current Bid for buys or Ask for sells. Broker minimum distances may increase it. Must be greater than 0.
`PartialClosePercent`	0	0: disabled. 1–100: profit threshold as a percentage of the range width. This is not the proportion of the position to close. Example: 50 triggers partial closing after a favorable move equal to half the range.
`PartialCloseDivider`	2	Volume to close = position lots ÷ divisor. Allowed: 2 to 5; equivalent to 50%, 33.3%, 25% or 20% before rounding. Both the closed and remaining volumes must meet the broker's lot limits.
`FallbackMarketOrder`	false	Allows immediate market entry if the intended stop order cannot be placed because the current price is too close or has already passed the entry. Does not replace every failed order. The planned SL/TP distances are transferred to the market entry.
`AllowTwoActiveOrders`	false	false: delete the opposite pending order when a position is open and block new placement while a position exists. true: retain the opposite pending order and allow both directions. This is not a general limit of exactly two orders, especially when placing additional orders manually.

Filters and Entry Buffer

Input	Default	Meaning
`UseTrendMA`	false	Enables the MA direction filter. The reference candle's closing price is compared with its moving average: price ≥ MA allows buys, price ≤ MA allows sells. If equal, both directions may be allowed.
`MAPeriod`	40	Number of periods for the moving average; greater than 0.
`MAMethod`	MODE_EMA	Calculation method: SMA (simple), EMA (exponential), SMMA (smoothed) or LWMA (linear weighted).
`MATimeframe`	PERIOD_H1	Timeframe for the MA and reference closing price. H1 means hourly candles.
`MAShift`	0	Shift of the MA line in periods; separate from reference candle selection.
`MAPrice`	PRICE_CLOSE	Price basis for the MA: Close, Open, High, Low, Median (H+L)/2, Typical (H+L+C)/3 or Weighted (H+L+2C)/4. The comparison price remains the closing price.
`MAReferenceShift`	0	Index of the candle being evaluated. 0 = current candle, which can still change; 1 = most recently completed candle; higher values look farther back.
`SpreadControl`	false	Checks the current spread when creating orders. Does not remove existing pending orders if the spread increases later.
`MaxSpread`	1.0	Maximum spread in Points. Must be positive when the filter is active. 1.0 Point is only 0.1 pip on five-decimal EURUSD.
`RangeControl`	false	Blocks new orders if the range is wider than MaxRangePoints.
`MaxRangePoints`	80	Maximum range width in Points; only active with RangeControl. Not a minimum range filter.
`PendingBufferPoints`	0.0	Non-negative distance outside the range for the Buy Stop or Sell Stop. With a range-based TP, the target stays at the box boundary; a larger buffer therefore reduces the planned profit distance.

Session Times and Trading Days

Input	Default	Meaning
`RangeStart`	09:01	Start of the range in broker time. Format HH:MM, beginning at second 00.
`RangeEnd`	09:59	Final minute of the range, including second 59. The M1 candle for this minute is included.
`SendPendingAt`	09:59:45	Start of automatic placement in broker time, strictly HH:MM:SS. The EA attempts placement within a 60-second window. There is no automatic catch-up after this window expires.
`DeletePendingAtTime`	true	Enables scheduled deletion of the associated Buy/Sell Stop orders. Automatic new placement is also blocked from the deletion time onward.
`PendingDeleteTime`	13:00	Deletion time in broker time, format HH:MM. Open market positions are unaffected.
`CloseOpenOrdersAtTime`	true	Enables scheduled closing of associated market positions. Does not automatically delete pending orders.
`OpenOrderCloseTime`	22:50	Closing time in broker time, format HH:MM. Can only be carried out when the market is tradable and broker execution succeeds.
`TradeMonday`	true	Allow new orders for sessions starting on Monday.
`TradeTuesday`	true	Allow new orders for sessions starting on Tuesday.
`TradeWednesday`	true	Allow new orders for sessions starting on Wednesday.
`TradeThursday`	true	Allow new orders for sessions starting on Thursday.
`TradeFriday`	true	Allow new orders for sessions starting on Friday. There are no enable settings for Saturday or Sunday.

Chart Display

Input	Default	Meaning
`ShowButtons`	true	Display the control buttons. They are not created in the Strategy Tester.
`ButtonFontSize`	9	Font size of the control buttons.
`ButtonTextColor`	clrBlack	Sets the text colour of all four chart buttons.
`ShowChartText`	true	Enable the status and information display on the chart.
`TextFontSize`	8	Base size for chart text; the right-hand information display uses this value plus 2.
`TextColor`	clrBlack	Normal text color of the information display. Certain warning states appear in red.
`RangeColor`	clrPowderBlue	Color of the range box during the measurement period.
`RangeExtBoxColor`	clrPowderBlue	Color of the range band extended to the right.
`ProfitBoxColor`	clrSkyBlue	Color of the target box outside the range.
`ShowFrame`	true	Display borders and dividing lines.
`FrameWidth`	1	Line width; internally limited to 1 through 5.
`RangeBorderColor`	clrRed	Color of the range border lines, including extended boundaries.
`ProfitBorderColor`	clrSkyBlue	Color of the target box border.
`SplitLineColor`	clrGold	Color of the vertical dividing line at the end of the range.

Additional Settings and Group Headings

Input	Default	Meaning
`MaxMarginPercent`	5.0	Limits the margin used in a lot calculation to a percentage of currently free margin. 5.0 means 5%, 10.0 means 10%, and 100 means 100%. 0 disables this additional cap. Also applies in fixed lot mode and is not a stop loss risk limit. Not a combined margin cap for all pending orders.
`DebugMode`	false	Enables additional log output through the internal logging function.
`WriteLog`	false	Enables the same log output; having either switch enabled is sufficient. Output goes to MT4/Experts, not a separate export file. Some messages are output regardless of these settings.
`FilterHeader`	---- Filters ----	Visual group heading; no trading function.
`TimeHeader`	---- Session Time ----	Visual group heading; no trading function.
`DaysHeader`	---- Weekday Filter ----	Visual group heading; no trading function.
`ChartHeader`	---- Chart UI ----	Visual group heading; no trading function.
`ExtraHeader`	---- Extra ----	Visual group heading; no trading function.

Points are broker Points. They are not automatically pips or full index points. Check your symbol’s price format before setting stop, spread or trailing distances.

In money and percentage risk modes, the budget is divided between the directions allowed by the direction filter. If both are allowed, each receives half. Fixed lots apply per order. Broker distances, fees and execution can change actual risk.

4. Trading Times and Session Ideas

Outbreaker can be configured for different trading periods: an opening range, an Asian trading range or a London breakout. The examples below show possible settings to test; they are not optimized presets.

EA Defaults

Broker time: range 09:01–09:59 · place orders from 09:59:45 · delete unfilled pending orders from 13:00 · close open positions from 22:50. Both timed management features are enabled by default.

The final minute is fully included in the range. With the defaults, orders are therefore placed before the final range minute is complete. Later range changes do not automatically adjust orders already placed.

Asian Session and London Breakout

For the Asian opening, you can measure the first half hour from 09:00 Tokyo local time. A London breakout can instead use the preceding trading range to prepare for a breakout as London trading begins.

Idea / possible symbols	Reference time	RangeStart	RangeEnd	SendPendingAt	PendingDeleteTime	OpenOrderCloseTime
Asian opening · USDJPY, EURJPY	Tokyo local time	09:00	09:29	09:30:00	12:00	15:00
London breakout · GBPUSD, EURUSD	London local time	00:00	07:59	08:00:00	11:00	16:30

Convert before entering: These two examples use Tokyo or London local time. The EA requires your broker’s time for all five fields. London observes daylight saving time; Tokyo does not. Check the correct offset with your broker for the trading day.

The London window is an illustrative preparation range, not the entire official Asian session. For typical Forex session conventions, see IG: Forex Trading Hours.

More Examples for Different Markets

The following table uses German local time (Europe/Berlin). Convert these times to broker time before entering them as well.

Asset / Test idea	RangeStart	RangeEnd	SendPendingAt	PendingDeleteTime	OpenOrderCloseTime
DAX / GER40 / DE40 30 minutes starting at 09:00	09:00	09:29	09:30:00	12:00	17:20
EURUSD European morning window	08:00	08:59	09:00:00	12:00	17:00
GBPUSD Alternative later morning range	09:00	09:29	09:30:00	12:00	17:00
US100 / NAS100 30 minutes from the regular US cash market open*	15:30	15:59	16:00:00	18:00	21:50
US500 / SPX500 15 minutes from the regular US cash market open*	15:30	15:44	15:45:00	18:00	21:50
US30 / Dow-CFD 30 minutes from the regular US cash market open*	15:30	15:59	16:00:00	18:00	21:50
XAUUSD / Gold Freely chosen US-related afternoon window*	15:30	15:59	16:00:00	18:00	21:30
USDJPY Fixed overnight window in German local time	01:00	01:59	02:00:00	05:00	08:00

*US-related times: During transition weeks when Europe and the US change clocks on different dates, move the US-related table times one hour earlier if the window should remain aligned with New York. The gold window is freely chosen and is not an official gold market opening.

The original exchange references are Xetra and NYSE. Your broker determines whether the symbol is tradable. Forex windows are freely chosen test periods. Deletion and closing times only apply when those timed features are enabled.

5. Using the EA on the Chart

The chart displays the range, target areas and the status of your EA orders. Buttons provide additional manual actions.

Button	Function
Close all open EA-Orders	Request closing of associated positions and deletion of their pending orders.
Set EA-Order to Breakeven	Move the stop to entry where price and broker conditions allow. Fees may affect the net result.
Set two new Pending-Order	Request new pending orders manually. Depending on filters, zero, one or two orders may result.
Check New EA-Version	Check whether a newer version has been published.

Orders placed manually after the deletion or closing time may need manual management. A completed timed action is not restarted by this.

6. Frequently Asked Questions

Do I need to change every setting?

No. Start with the time window, lot size or risk mode, and stop settings. Add filters, breakeven, trailing and partial closes when needed.

Does the EA trade every range?

An entry occurs only when conditions are met and an order is triggered. Filters, price or broker conditions may prevent a trade. Automatic placement attempts take place only within 60 seconds from SendPendingAt.

What happens to the opposite order?

By default, the EA attempts to delete it after a position opens. In fast markets or after a failed deletion, both directions may still be triggered.

Why does the EA use fewer lots than configured?

The margin cap and broker lot rules may reduce volume. If the result is below the minimum lot size, no order is sent.

What does partial closing mean?

Part of the position is closed after a specified favorable price move. PartialClosePercent sets that distance as a proportion of the range; PartialCloseDivider determines how much volume is closed.

Can I trade multiple sessions?

Yes. Use separate charts and different UniqueIDs and MagicNumbers. Do not change these identifiers while associated orders are open.

Does MetaTrader need to stay open?

Yes, for ongoing management, opposite-order deletion and timed actions. A VPS can support continuous operation. SL and TP already placed with the broker may also execute independently of the EA.

EA-Outbreaker · MetaTrader 4 · Version 5.15 · Updated: 23 October 2026

Risk notice: Leveraged trading can cause substantial losses. A strategy’s popularity does not guarantee profits. Test settings and time windows on a demo account first.

For license verification, the account number, account type, account name and broker server are sent to Market-Trader.de.