Breakout Grid EA is a robot that was created in March 2020 by developer Catalin Zachiu. Zachiu is a very prolific creator of Eas as he has developed many trading tools, many of them available in the MQL market. This expert is a combination of a grid and a scalper. Breakout Grid EA uses a grid of ten pending commands, five for long and five for short, with a space of 500 points between them and a scalping target of 100 points.
The EA has three ways of working. First, the entry by level, the expert begins the operation when the price is at an important commercial level (an old resistance or support). Second, the time entry launches the expert at a specific time (user input). The third type is the continuous operation, in which the expert starts immediately and restarts after all orders are closed.
Only one of the three types of entry can be used at once as a symbol and magic number. The three types of input can be used in a symbol if different magic numbers are assigned. The expert also has a stop function after a round of trades, defined by the parameter “Continue”, can be used when it is known that important news is released combined with the input type.
Recovery function – uses batch size amplification in order to achieve benefits, but also increases the possibility of greater loss.
Partial profit – closes all orders when the entry value is reached at points, it is safer, but the potential benefits are also smaller.
The developer has optimized this EA to be used with only one currency pair, the GBP/USD. Also, the most favorable time frame to trade with Breakout Grid EA is H1.
In conclusion, we are talking about an EA that sets targets of 10 pips per trade (100 points) when it establishes pending orders with a distance between them of 50 pips. This is a well-known system and widely used by manual traders over time with mixed results.
We always recommend that in order to have a working EA you have to have a dedicated VPS or virtual server, and if it is not available then you have to leave the computer on 24/7. It is also important to have an ECN account in a reliable broker that offers us low latency so that orders are executed in the shortest time possible.
Note that this tool is free, so you don’t need to install any demo version, you can directly install the EA and use it. We recommend using it first in a demo account to see how it works and verify its results, before connecting the robot to a real-money account.
As it is a tool of very recent creation, there are currently no comments from users who have tried it and put their valuations at the service of the MQL community, So we advise caution with the use of this EA.