ElAlgo Range Breakout Assistant

About The Product

What does ElAlgo Range Breakout Assistant do?

Turn defined price ranges into structured trading opportunities. ElAlgo Range Breakout Assistant (RBA) is a configurable MT5 Expert Advisor designed for traders who use price ranges, session highs and lows, and boundary breakouts as part of their trading strategy. Instead of continuously watching price movements, RBA allows traders to define how a range is created, what should happen at its upper and lower boundaries, and whether the system should send notifications or attempt automated trades. The Expert Advisor supports several range sources, including selected candles, scheduled candles, the previous trading day, and predefined or custom trading sessions. Independent Control of Both Boundaries The upper and lower range boundaries can be configured separately. Each side supports its own entry method, price offset, trading permission, notifications, position sizing, Stop Loss, and Take Profit settings. Depending on the selected boundary, RBA supports Buy Stop, Sell Stop, Buy Limit, Sell Limit, and market entries triggered by confirmed price crossings. Flexible Risk and Trade Management Traders can use fixed lot sizes or calculate position volume from a USD-denominated risk budget or a percentage of account balance. Stop Loss distance can be defined using points, ATR, or a percentage of range width. Take Profit levels can be configured using risk/reward ratios, ATR, points, or range percentages. Alert-Only or Automated Operation RBA can monitor boundary crossings and send popup, push, or email notifications without placing trades. Automatic trading can be enabled separately for the upper and lower boundaries. Persistent State and Operational Controls The system includes persistent range tracking, recorded order attempts, trade-history reconciliation, range expiration, optional opposite-order cancellation, and a chart panel for monitoring operational status. RBA is designed to give traders a structured and configurable workflow for range-based strategies. Automated trading requires a compatible MT5 hedging account and appropriate trading permissions. Trading involves financial risk, and actual execution depends on broker conditions. Problems This Product Solves Constant chart monitoring: Receive configurable notifications when price crosses the defined range boundaries. Repetitive order preparation: Automate compatible boundary-entry methods using predefined trading settings. Inconsistent risk configuration: Configure position sizing, Stop Loss, and Take Profit using consistent calculation methods. Limited strategy flexibility: Use different entry and risk configurations at the upper and lower boundaries. Repeated processing of old signals: Track range usage and attempted entries to avoid intentionally replaying the same range. Operational interruptions: Retain range state and reconcile known orders and fills after restarts. Key Benefits More structured range-based trading workflows Less manual monitoring of breakout levels Separate control of bullish and bearish boundary scenarios Flexible risk-based volume calculation A choice between notifications and automated execution Clear visibility into range and system status Persistent tracking of trading decisions and order attempts Customizable session and time-based range detection