SMC Sniper1

SMC Sniper is a fully automated expert advisor for MetaTrader 5 that trades gold (XAUUSD) using a market-structure breakout approach. It waits for a confirmed structure level to break in the direction favoured by a higher-timeframe filter, then handles the trade from entry to exit without manual input.

How it works

The EA is built around ideas from Smart Money Concepts. Rather than reacting to every small swing, it looks for swing points that the market has respected and treats them as structure levels. When price breaks through one of those levels, the entry is triggered by a pending stop order placed at the breakout point.

Trend filter

A momentum filter on the H1 timeframe decides which direction the EA may trade at any given time. Breakouts against that direction are ignored, which should reduce the number of signals but keep them more selective.

Trade management

• Stop loss is placed relative to market structure rather than a fixed distance from the entry price.
• Take profit can be set as a fixed multiple of the initial risk or as a fixed pip target.
• A partial close can lock in part of the position once the trade has moved in your favour.
• An early trailing stop starts protecting the trade after a relatively small favourable move.

Markets and timeframes

The product is designed for XAUUSD on the M5 chart. The H1 filter is calculated internally, so you only attach the EA to one M5 chart. Gold symbols are named differently between brokers, so confirm the exact symbol on your account before attaching it.

Settings

Check the Inputs tab after attaching the EA, since the exact parameter names and defaults are shown there. The main groups are listed below.

The chart is also given a simple green and red candle theme, so you can see at a glance what the EA is reacting to without adding other indicators.

Account and broker considerations

Because entries use pending stop orders at breakout levels, spreads and execution speed have a larger effect than they would on a slower strategy. The author recommends a raw-spread ECN-style account. Standard accounts with wider spreads or requotes may change results significantly. Check the listing for the author's suggested minimum balance, and keep in mind that very small accounts limit how well percentage-based sizing can work on a volatile instrument like gold.

Risk

Installation

1. In MetaTrader 5, choose File, then Open Data Folder.
2. Open MQL5, then Experts, and copy the EA file into that folder.
3. Restart the terminal or refresh the Navigator panel.
4. Open an XAUUSD M5 chart and drag SMC Sniper onto it.
5. On the Common tab allow Algo Trading, set your inputs, and confirm the Algo Trading button in the toolbar is active.

For continuous operation, consider running the terminal on a VPS with a stable connection. Before using real funds, run the Strategy Tester with your broker's data and a period of demo trading to see how it behaves with your settings.