GoldBreakout EA

GoldBreakout EA is an MetaTrader 5 expert advisor built for one market, gold against the US dollar (XAUUSD). It watches support and resistance levels on several timeframes and places pending stop orders just beyond them, aiming to catch moves when price breaks out of a range.

How it works

The EA scans support and resistance levels on M15, M30, H1 and H4. It can run up to five independent strategy modules, each with its own lookback period, ATR buffer, stop loss and take profit. At a breakout level it places a Buy Stop and a Sell Stop; when one side fills, the opposite order is cancelled.

Entry and exit handling

• Pending-order mode places stop orders at the level.
• Close-confirm mode waits for a candle to close beyond the level and then opens a market order, which can reduce entries on false breaks.
• Stop loss and take profit are based on ATR, so distances change with gold volatility.
• Break-even, a trailing stop and an optional trailing take profit are available.
• Small random variations in entries, stops and trailing can be applied.

Risk controls

The EA includes several account-level protections. You can choose between fixed lots, a maximum allowed drawdown method, a risk percentage per trade, and a method calibrated from your own backtest drawdown.

• Daily drawdown stop that closes trades and pauses until the next day.
• Equity drawdown cap that reduces lot size as drawdown grows and then pauses trading.
• Kill switch that closes everything at a drawdown level you choose.
• Open-risk limit across all open trades, plus loss-streak lot reduction and a loss cooldown.
• Spread filter, Friday stop, rollover protection and an NFP filter.

Markets and timeframes

The EA is meant for XAUUSD only and warns if it is attached to another symbol. Use one chart; H1 is the usual choice, as the modules read their own timeframes internally. A broker with low gold spreads helps, because breakout orders are sensitive to spread and slippage. A hedging account is preferred; on a netting account the EA is intended to run one strategy only.

Settings

Exact default values depend on the preset you pick, so review every input in the properties window before trading live.

The optional entry filters, such as the higher-timeframe EMA trend filter and the ADX filter, are off by default. If you plan to trade a funded account, check that the limits match that firm's rules rather than relying on a preset name.

Dashboard

An on-chart panel shows balance, equity, today's result, drawdown figures, open risk, the lot multiplier, spread, the status of each strategy and the next NFP time. It can be resized for high-resolution screens.

Installation

1. Copy the downloaded EA file into the Experts folder of your MetaTrader 5 data folder (File > Open Data Folder > MQL5 > Experts).
2. Restart the terminal or refresh the Navigator panel.
3. Open an XAUUSD chart and drag the EA onto it.
4. Enable Algo Trading in the terminal toolbar and allow it in the EA properties.
5. Choose a preset or set your inputs. For Telegram alerts, add the Telegram API address to the allowed URLs under Tools > Options > Expert Advisors.

Backtesting

Use the Strategy Tester with the every tick based on real ticks model on your own broker's data, since breakout results depend heavily on spread and tick quality. A VPS is advisable for continuous operation during the trading week.