Description

London Opening Range Breakout EA

Short Tagline: A session breakout strategy that defines a range during the first minutes of the London…

Short Description:
London Opening Range Breakout EA is a fully automated session breakout / intraday. Expert Advisor for MT4 and MT5. A session breakout strategy that defines a range during the first minutes of the London session and trades the breakout of that range. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

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Overview

A session breakout strategy that defines a range during the first minutes of the London session and trades the breakout of that range. It captures the volatility surge as European liquidity enters, targeting the directional expansion that typically follows the session open.

Features

• Opening range high/low (first N minutes of London)
• ATR(14) for stop/target scaling
• Optional EMA50 for directional bias
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – Define the opening range from London open (e.g., 07:00 London) over the first 30 minutes.

• Long: buy stop just above the range high; Short: sell stop just below the range low (OCO).
• Optional filter: only take breakouts aligned with the H1 EMA50 direction.

Exit logic: – Exit at the fixed target, on trailing stop, or flat at end of London session.

Stop-loss: SL on the opposite side of the opening range, or 1.5 × ATR, whichever is tighter.

Take-profit: TP at 1× to 2× the range height; scale 50% at 1× range, remainder trailed.

Trailing stop: Trail by 1 × ATR once price moves 1× range in favor.

Break-even: Break-even after price clears 0.5× range height.

Why it works: Exploits a reliable daily volatility window.; Simple, mechanical, well-defined..

Recommended Settings

• Timeframes: M5, M15 for entries; range built on M5.
• Instruments: GBPUSD, EURUSD, EURJPY, GBPJPY, GER40.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 1% per setup. Only one direction fills (OCO). No new trades after mid-session.

Supported Markets

Forex majors and European crosses; indices tracking European hours.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: Core mechanism — only trades the London open window; cancel unfilled pendings after the entry window closes.
• Spread filter: Reject if spread > 2 pips; opening spreads can be wide.
• News filter: Cancel pendings if high-impact European news lands within the opening window; re-arm after.
• Volatility filter: Require the opening range height to exceed a minimum (ATR-relative) to avoid trading a dead open.

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: M5, M15 for entries; range built on M5. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.