The False BreakOut PRO Expert Advisor (EA) trades automatically on buy and sell breakout levels marked by lines in the chart. The lines are drawn by the EA, a trader can move the lines, adjust them in the chart, no need to write these setting in the input window of the EA. The EA takes the settings directly from the chart.

Just like False BreakOut EA the False BreakOut PRO opens a buy or sell stop order over a breakout level when the price goes beyond the level on a certain distance. Orders can be closed in 3 steps. 2 lines mark the levels where the first 2 parts of the order should be closed, the third close-line shows the Take Profit. Each close-line can be erased to close the position (or a part) by the trailing stop of the EA. If set so, the EA adjusts the lines automatically to new higher highs and new lower lows. More about this in the settings.

The video and the pictures show trades done with the False BreakOut PRO. All trades are made with the default presets, except the GBPJPY and EURJPY trades. Settings for these pairs are shown in the third picture. The video shows how the EA adjusts the buy-trigger line automatically to new lower lows. Do your own backtesting, set visual mode to see how the False BreakOut PRO works. Besides the check-box is the regulation for test-speed and a break-button. Simply test GBPUSD H4 on July 15, 2014 with the default settings, no need to move a line. A buy and then a sell make profit. Try the other shown examples, with some practice you'll find a lot of opportunities like shown here. In the comments to this product will be tips and hints for trading with this EA. Also have a look at the False BreakOut EA comments, video & pictures.

Settings

• Auto_Moneymanage - Automatic money management can be used or disabled.
• MiniLots - If set to 'true', automatic money management works in steps of 0.01 lot.
• MaximumRisk - how much % of account free margin is set on risk for each trade.
• Trail_Dist - The distance to the price in points where the Stop Loss is trailed (if 0 the trailing stop is disabled).
• Lots - Lot size if automatic money management is disabled.
• LotsClose1 - Lot size for the first part of the order to close if automatic money management is disabled.
• LotsClose2 - Lot size for the second part of the order to close if automatic money management is disabled. If automatic money management is active at the first close, a third of the position will be closed and at the second close half of the position that's left will be closed.
• Erase_Lines - if 'true', the EA erases the drawn lines when it is taken from the chart or a backtest is finished.
• Draw_LinesB - if 'false', no buy-trigger line is drawn. To trade only sell positions.
• BarsLineB - Number of last bars in the chart the EA considers to get the lowest low, where it draws the buy-trigger line.
• Modify_LineB - if 'true', the EA moves the buy-trigger line if a new lowest low appears.
• Modify_LineBcl - if 'true', the EA moves the buy-close lines if a new lowest low appears. The lines buy_close1 and buy_close2 mark each a third of the distance from buy_close3 to buy-trigger line. The line buy_close3 is drawn 5 pip lower than the sell-trigger line, to see it in the chart. The TakeProfit is another pip lower, to see it.
• BuyUnderP - Number of points the Bid price has to fall under the buy-trigger line to trigger the Buy Stop order.
• BuyReturnP - Number of points above the buy-trigger line where the Buy Stop will be set. Some brokers claim a certain distance between current price and order open price of pending orders. Then BuyUnderP + BuyReturnP must be larger than that distance. With the given presets the EA should work with most brokers.
• StopLossB_P - The distance from order open price in points for buy orders.
• SLtoEntryB - Number of points the buy order must be in profit to modify Stop Loss to order open price (if 0, Stop Loss will not be modified).
• Min_CloPendB - After the set number of minutes the pending buy order expires (if not filled) and will be erased by the broker. Some brokers don't allow setting an expiration date for pending orders. In this case the setting must be 0.
• HourTradeB - For back-testing, the strategy tester starts at 0h, in some cases that's too early, so another hour can be set here (the setting also works in live trading).
• Draw_LinesS - If 'false' no sell-trigger line is drawn. To trade only buy positions.
• BarsLineS - Number of last bars in the chart the EA regards to get the highest high, where it draws the sell-trigger line.
• Modify_LineS - if 'true' the EA moves the sell-trigger line if a new highest high appears.
• Modify_LineScl - if 'true' the EA moves the sell-close lines if a new highest high appears. The lines sell_close1 and sell_close2 mark each a third of the distance sell-trigger line - sell_close3. The line sell_close3 is drawn 5 pip higher than the buy-trigger line, to see it in the chart. The TakeProfit is another pip higher, to see it.
• SellOverP - Number of points the Bid price has to rise over the sell-trigger line to trigger the Sell Stop order.
• SellReturnP - Number of points below sell-trigger line where the Sell Stop will be set. Some brokers claim a certain distance between current price and order open price of pending orders. Then SellUnderP + SellReturnP must be larger than that distance. With the given presets the EA should work with most brokers.
• StopLossS_P - The distance from order open price in points for sell orders.
• SLtoEntryS - Number of points the sell order must be in profit to modify Stop Loss to order open price (if 0 Stop Loss will not be modified).
• Min_CloPendS - After the set number minutes the pending sell order expires (if not filled) and will be erased by the broker. Some brokers don't allow setting an expiration date for pending orders. Then the setting must be 0.
• HourTradeS - For back-testing, the strategy tester starts at 0h, in some cases that's too early, so another hour can be set here (setting also works in live trading).
• SoundalertBuySell - A sound can inform that a buy or sell order was triggered.
• PopupalertBuySell - A popup window can inform that a buy or sell order was triggered.
• EmailalertBuySell - An email can inform that a buy or sell order was triggered.
• Text_Buy - The text in popup and email.
  
• Text_Sell - The text in popup and email.
• SoundFile_HowOften - Number of times the sound file is played.
• SoundFile_Buy - Name of the sound file in folder 'sounds' .
• SoundFile_Sell - Name of the sound file in folder 'sounds'.
• Comment_Buy - Comment at order in the chart.
• Comment_Sell - Comment at order in the chart.
• magic - Magic number.
• The last 8 settings allow to change the colors of the lines the EA draws.