Introduction

Range Breakout with Range Filters EA V4.38 MT5 is an automated trading system designed for the MetaTrader 5 platform that focuses on capturing price movements when the market breaks out of a defined range. The EA uses built-in range filters to avoid low-quality or false breakouts, aiming to trade only when volatility and direction align. It is suited for traders who prefer systematic breakout trading with predefined rules and controlled risk.

Key Features

Automated range breakout detection
Built-in range filters to reduce false signals
Fully automated trade execution on MT5
Adjustable risk and lot size settings
Uses predefined Stop Loss and Take Profit
Compatible with most MT5 brokers

Recommended Settings

Use the EA on the MetaTrader 5 platform only.
Trade on the timeframes recommended by the developer, commonly M15 or H1.
Apply conservative to moderate risk per trade to manage drawdown.
Use fixed or automatic lot sizing based on account balance.
Enable built-in range filters to avoid low-volatility conditions.
Trade with a low-spread broker and stable execution environment.
Run the EA on a VPS for uninterrupted operation.

Backtest Results

Backtests show better performance during trending and volatile market conditions.
The EA avoids excessive trading during sideways or low-range markets.
Drawdowns remain controlled when conservative risk settings are applied.
Trade frequency remains moderate due to range filtering logic.
Backtest results are indicative only and do not guarantee future performance.

Advantages

Captures structured breakout movements automatically.
Built-in range filters reduce false breakout entries.
Fully automated execution reduces emotional trading.
Suitable for traders who prefer systematic breakout strategies.
Customizable risk and execution parameters.

Disadvantages

May underperform during prolonged ranging or low-volatility markets.
Requires proper configuration of range and filter parameters.
Performance depends on broker spread and execution quality.
Needs stable internet or VPS for best results.

Installation & Setup Guide

Download the EA file in the required format.
Open MetaTrader 5 and select File, then Open Data Folder.
Navigate to the MQL5 directory and open the Experts folder.
Paste the EA file into the Experts folder.
Restart MetaTrader 5 to load the EA.
Open the recommended trading chart and timeframe.
Attach the EA to the chart from the Navigator panel.
Enable AutoTrading in the MT5 toolbar.
Configure risk, lot size, and range filter settings carefully.
Test the EA on a demo account before using it on a live account.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

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Disclaimer:

Forex and gold trading involve risk. Past performance doesn't guarantee future results. Always test robots on demo before live trading and use proper risk management.