Forex Take a Break MT4 Indicator

Forex Take a Break MT4 Indicator:

About the Forex Take a Break MT4 Indicator

This indicator allows you to manage multiple other EAs with just one Take a Break EA instance.

Simply specify the corresponding Chart Group in the indicator(s) and Take a Break EA settings and you are good to go.

Setup example (Indicator + EA)

You want Take a Break to manage 3 other EAs: EA1 on EURUSD, EA2 on EURGBP, EA3 on GBPUSD.

  1. Download the indicator and the EA to your MetaTrader.
  2. Add the URL to the list of allowed WebRequest URLs (press CTRL+O, tab “Expert Advisors”)
  3. Attach the indicator to the EURUSD chart with EA1. Specify “EA1” as the Chart Group.
  4. Attach the indicator to the EURGBP chart with EA2. Specify “EA2” as the Chart Group.
  5. Attach the indicator to the GBPUSD chart with EA3. Specify “EA3” as the Chart Group.
  6. Open a blank, new chart (timeframe: M1) and attach the Take a Break EA to it.
    1. Enter “EA1,EA2,EA3” as the “Chart Groups” in the “CHART SETTINGS” section.
    2. OPTIONAL: Specify the “External EA – Magic Numbers” of EA1, EA2 and EA3 in the “EXTERNAL EA SETTINGS” section.
      By default, Take a Break will manage all symbol trades (“-1”). So in our example, Take a Break will manage all EURUSD, EURGBP and GBPUSD trades independent of their magic numbers.
      If you want only certain trades to be managed by Take a Break, specify their magic numbers like e.g. “1,2,3” (“0” for manual trades).

That’s it! Take a Break will now take care of all your other EAs by applying the filter settings you defined.

General information

  • EA version 4.0 has been a major performance upgrade with an almost entirely rewritten code base. This upgrade allows Take a Break to handle even large-scale chart setups while consuming a minimum amount of CPU power. From this version onward, the frequency of the news + time filter checks is controlled by the chart timeframe. Due to this, Take a Break EA must be run on a chart with timeframe M1 so that these checks get executed every minute. Conveniently, the EA will change its timeframe automatically if it was not attached to an M1 chart right away.
  • From indicator version 1.30 onward, the chart templates for “Trading is NOT allowed” and “Profit/Loss Limit reached” are auto-created if they do not exist already. That should facilitate the setup process for most use cases of Take a Break. If you want to create custom chart templates (e.g. you want another EA to trade during news) or want to overwrite existing ones, do the following:
    • Setup a chart with all required EAs/indicators.
    • Attach the Take a Break indicator to this chart.
      Specify the corresponding “Chart Group”.
      Select the “Template Type” you want to create/overwrite (“Trading IS allowed” / “Trading is NOT allowed” / “Profit/Loss Limit reached”).

Test results:

Forex Take a Break MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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