Daily Breakout + Trailing Stop (Made with AlgoBuilderX)

// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit https://algobuilderx.com to start building your own cBots today!

This cBot is an example, made for demonstration purposes using AlgoBuilderX.

You can find the creation video of this strategy in our academy: https://algobuilderx.com/academy

Where you can import this project and modify it to your liking.

Although it is only an example, this strategy is fully functional and unrestricted.

The strategy involves drawing two horizontal lines, one at the high and one at the low of the previous day. When the price reaches the line corresponding to the high of the previous day, a buy position is opened with a stop loss set at the low of the day. Similarly, if the price touches the line of the low of the previous day, a sell position is opened with a stop loss set at the high of the day. In order to ensure more accurate risk management, the "Risk % Equity" parameter was implemented, allowing the loss to be limited to a set amount, despite the dynamism of the stop loss.

The parameters are as follows:

• Take Profit: Sets a take profit level in pips.
• Risk % Equity: The opening lot is calculated based on the percentage entered here and the stop loss distance.
• Trailing Step: Indicates after how many pips, the stop loss is moved
• Trailing Stop: Indicates how many pips away from the current price the stop loss is to be moved

Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.