VFX London Breakout EA

VFX London Breakout EA
Logic:

1. Level Trading:
   • The EA trades based on predefined levels related to the London opening time (LondonOpen). It waits for the market to reach certain price levels (based on the highest and lowest prices in a specific time window) and then takes positions based on these levels.
2. Breakout Strategy:
   • The EA identifies a trading range around the London market opening and takes trades when the price breaks out of this range. The breakout levels are calculated using the high and low prices from the London session and are adjusted with a BreakRange buffer.
3. Risk Management:
   • The EA provides multiple risk management options (RiskPercentage, RiskAmount, RiskFixedLot). It adjusts the position size based on either a fixed lot size, a percentage of account balance, or a fixed amount of risk per trade.
   • It also checks the spread before entering trades to avoid trading in high-spread conditions (MaxSpread).
4. Stop Loss and Take Profit:
   • The EA uses a predefined stop loss (StopLoss) and take profit (TakeProfit) for each trade. These levels are set when the order is placed and are calculated based on the current market price.
5. Order Management:
   • The EA manages orders by ensuring that only one trade is active at a time for a specific strategy (MagicNumber). It checks for existing orders before placing new ones.
6. Session-Based Trading:
   • Trading is limited to specific times based on the London session. The EA calculates trading times based on LondonOpen and restricts trading to a 5-hour window after the session starts.