Hi Phil,
Thanks for sharing this system… do you know how it compares as far as profitability to the other 4H Sunday breakout method posted at the ‘factory’?
Thanks in advance!
Someone PMed me and pointed me to the other weekly breakout system on FF after I posted mine here. I even made an account on FF because of it and posted in the thread a couple times.
It’s really similar, the only real difference being that it uses the first candle on Monday instead of the Sunday candle, and it has different takeprofit rules. Other than that the two are basically identical.
As for profitability compared to mine, the other system takes profit at 4 different points during the week, so it’s way to much time and math for me to do a comparison. 
I may be biased, but if I had to guess I’d say my system would come out on top in long-term profitability.
I testing many exit strategies on my system, including one similar to Ace’s, and my current exit strategy was by far the most profitable.
Hi Phil,
This is a great system. Thanks for sharing it.
One question though, what lot size do you use?
Do you calculate the lot size based on your stop loss (as you say the system uses a 2% risk per trade)?
Your capital = $10,000
Your Risk = $200 (or 2%)
Calculate your risk of pips, based on the system (buy price - stop loss; for eg) = 40 pips
Hence, your pip value should be ($200/40) = 5
Then go to Pip Value Calculator, Pip Calculator, Pip Value Information to mess around with the settings to get the lot size.
For pip value = $5, you should be able to play with 5 mini lots?
Hi phil838,
Is it easy to write an MT4 thingy to email the values needed for the Sunday breakout? GMT0 4hour Sunday Candle High/Low, and ATR
I was trying to find the function for email, but couldn’t find it. Thinking to modify some existing scripts, but couldn’t find anything.
I also do up an excel sheet to start to keep track of my pips and money! 
Sunday Breakout.zip (7.93 KB)
Thanks for clarifying =)
Great excel sheet! I’m going to start using that instead of my crappy looking one!
MT4’s email function is SendMail(“subject”, “body of email”).
It shouldn’t be too hard to write something to do this. I’ll mess around with it this week and see what I can come up with. I had a couple programming courses in college and am pretty good at modifying code, but I’m terrible at writing it from scratch.
What would happen in this scenario Phil?
I.e. Lets say you have a trade still open from the previous Monday, it’s now Monday morning again (a week later). Do you not open any more trades until the previous weeks trade has closed? Or would you end up with 2 open trades?
Hope you understand
Thanks
Good question!
I would close the trade on Friday if it hadn’t hit my profit target yet. I’ve never had this happen since I’ve been trading live, but I did encounter it once or twice in my backtesting, so it could happen.
Nice avatar, by the way. Is it anyone in particular?? Maybe Lilith??
Thanks for your reply! Yes I understand this situation most likely doesn’t happen frequently but just needed to know in case I encounter it
My avatar I found on my travels and thought it looked good so not too sure what or who it is lol 
Could you also post the code too? I want to learn some MT4 programming. I am thinking of doing this in a bigger scale in the future like it could email to a mailing list - Phil838 Sunday Breakout Mailing list, and everyone can get it! 
ETA:
I did a google and found this link with PDF as tutorials; I’m downloading them and reading them. Hope it will help you too.
There you go~
if ( DayOfWeek() == 1)
if ( StringFind( TimeToStr ( iTime(“GBPUSD”,PERIOD_H4,i), TIME_SECONDS), “00:00”, 0) == -1 )
Print (“It is not the time yet!! Please wait until GMT 00:00”);
else {
Print("Current bar for GBPUSD H4: ",
iOpen("GBPUSD",PERIOD_H4,i),", ",
iHigh("GBPUSD",PERIOD_H4,i),", ", iLow("GBPUSD",PERIOD_H4,i),", ",
iClose("GBPUSD",PERIOD_H4,i),", ", iVolume("GBPUSD",PERIOD_H4,i));
}
ETA:
- didn’t have GMT offset in this; assumes that your broker is on GMT
hmmmm, come to think of it, MT4 smtp is unable to sendmail via gmail’s secure server. So need to find a server + can’t do it in office since I am sure that the port will be blocked; unless running the program at home.
ETA:
just found out that my web hosting has SMTP access!
I’m working on one with similar code. I’ll post it if/when I can get it to work.
Also, a long time ago I posted instruction on how to get MT4 to send alerts to a cell phone. The same instructions can be used to forward an email to a gmail account from MT4 if need be.
Just search the forums for “gmx.com” and you should find it.
Now I need to know how to display only 4 decimals places
I think MT4 has some calculations errors, the following should show up the same values, but they are not.
double a = 1.1111;
double b;
b = a + 0.0001;
a = a + (10/10000);
Print (DoubleToStr(a,4) + " " + DoubleToStr(b, 4) );
Output = 1.1111, 1.1112
I forgot to mention that what I like about this strategy too is there are no indicators, it’s purely price action. I think many will agree with me on that?
I think I may give this one a try as well. Aside from the fact that it is a profitable strategy, I think a system with a high loss rate might actually help me get better at accepting losing trades.
Hey phil838, I know you trade this system and Nick B’s scalp lines, are there other systems you use as well? Thanks for all your input on these forums. You’ve helped me a good bit for sure.
Excellent job on the indicator!! Much better than I could have done. I say we make you the official Sunday Breakout programmer.
How that you’re the official programmer can you make one that will display the info on the chart instead of emailing it??
And I think the calculation problem is that (10/10000) is not 0.0001. 10/10000 is 0.001. 
Absolutely! I think indicators are evil and completely worthless.
That’s just my opinion though, other people use them and if it works for them then great! I’ve just never liked them myself.