Weekly Breakout is an expert advisor for MetaTrader 5 that trades breakouts of the previous week range. It is a low frequency and easy to understand strategy, very useful for studying how prices behave when they break important weekly levels.
How it works
At the start of the week, if price is inside the previous range, the robot places two pending orders: a buy above the previous high and a sell below the previous low. If price opens with a gap outside the range, it enters directly and places an opposite order. Positions are closed when the new week begins.
Important note
It is shared for educational purposes. Recent backtests show negative long term results, so it is best used on DEMO only to understand the logic of weekly breakouts and to develop your own improvements.
File contents: .mq5 source code ready to compile in MetaEditor.
View the original robot documentation on EarnForex (Apache-2.0 license)
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