GloryPips DailyBreakout Utility is created to place pending orders either single buy-stop and sell-stop or both buy-stop and sell-stop in 3 steps when the time is 9am GMT after the London session begins when the trader clicks one of the buttons on the chart. The strategy is to make it easier to open lined-up pending orders in order of degree waiting for price breakthrough for stupendous profits. It can be used for any currency pair that can move around 9 am but it is majorly used for GBPUSD currency pair or any other of their groups like GBPNZD, GBPAUD, GBPCAD, GBPJPY and GBPCHF. You can have a try at any other currency pair to see if it works for them too.

On-chart Buttons:

• Open Buystop
• Open Sellstop
• Open Buystop & Sellstop Orders
• Close Buystop
• Close Sellstop
• Close Buys
• Close Sells
• Close All Orders

These buttons are fast and responsive, do not click twice but wait until it opens trade according to your command. If a button is not responding, this may mean that it has sent your command to the server and the server is currently processing it. To be sure of what is happening, check the ‘Journal’ on the Terminal of your MT4 for a relevant message, if it says ‘Requote’, then you can click again but if it says nothing, it may be due to poor internet connection, wait for the server to process or you may end up having multiple orders opened to your dislike. It is simple, follow through and nothing to worry about.  

Below are the parameter settings:

• Default lot size = 0.1
• Candle shift calculated backward since the day began from 12am GMT to locate the 9 ^thcandle
• Use Close-hour to close all opened orders: Optional
• Close all orders after this hour: 22pm or 10pm GMT
• Open Buy-stop pending orders only
• Open Sell-stop pending orders only
• General Stop-loss or leave as ‘0’
• Take-profit 1 for the first pending order = 30
• Take-profit 2 for the first pending order = 50
• Take-profit 3 for the first pending order = 100
• Distance from pending orders from bars = 5
• Space between the pending orders (according to this strategy) = 0, you can put yours if you need space between your pending orders.
• Trailing stop = 20
• Trailing point behind the price = 15
• Maximum allowed slippage

In the parameter settings, the Candle shift was set to ‘8’ because we are targeting 9am on H1 time frame which is the 9 ^thcandle on the chart, the current candle is ‘0’ plus ‘8’, making 9. You can put any number position of candle with which you want to open buy-stop, sell-stop or both. To choose the number position of a candle correctly, you must start counting backward with ‘0’ as the first or current candle with previous candle as ‘1’ and so on. This means you can use this utility other than what is specified here alone. It is useful and versatile for trading pending orders especially.

As you use this Expert, feel free to adjust whatever you think can improve its performance. It is an idea born out of London session breakout but with a sensible strategy for good profit at a break which works almost every day to give good pips to your profits.

Cheers.