GoldBreakoutPro ATR breakout EA

What it is

- An H1 volatility-breakout cBot for XAUUSD (Gold) that trades both long and short.

- Built around ATR to scale entries and exits to current volatility.

- Designed to capture multi-hour momentum and avoid micro breakouts.

Trading approach, logic, and behavior

- Breakout engine:

- Computes the highest high and lowest low over the last N closed bars.

- A trade triggers only if price closes beyond that channel by an ATR offset (EntryOffsetATR), filtering weak breaks.

- Orders are placed at the next bar open (no lookahead).

- Exits and protection:

- Stop-loss and take-profit are set at entry as ATR multiples (SL=SlAtr×ATR, TP=TpAtr×ATR).

- Only one position per symbol/label at a time; no martingale, no grid, no averaging-down.

- Noise controls:

- CooldownBars enforces a pause after an exit.

- RearmBars requires price to return inside the channel before the same-direction entry is allowed again.

- Optional session filter (UTC by default) lets you focus on London/NY hours.

- Optional market-hours guard can block trades near session close/open.

- Direction:

- Long and short enabled by default. You can switch to long-only or short-only.

Risk management and capital principles

- Sizing modes:

- Fixed lots (simple, constant exposure).

- Fixed risk $ per trade (size adapts to SL distance).

- Risk % of equity (compounds with balance).

- Recommended risk: 0.25%–1.0% of equity per trade for most accounts. Keep margin headroom; avoid running near stop-out.

- Always test broker costs (spread, commission, swap) and set realistic expectations for slippage on news and at session edges.

Key trade parameters (user-configurable)

- Lookback N (channel length)

- ATR Period (Wilder)

- EntryOffsetATR (how far beyond the channel price must close)

- SlAtr / TpAtr (ATR-based SL/TP)

- ATR Min (pips) filter (skip ultra-low volatility)

- CooldownBars and RearmBars

- Trade window (start/end hour; UTC by default)

- AllowLong / AllowShort

- SizingMode + risk settings (fixed lots, $ risk, % risk)

- Label (so multiple symbols/instances can be isolated)

Who it’s suited for

- Account size:

- Works on small accounts if your broker supports micro volumes; practically, $500+ can run tiny risk, $1,000+ recommended for smoother sizing.

- Trader profile:

- Swing/day traders who prefer clear, rule-based entries and capped risk.

- Users comfortable with periods of flat or negative performance during ranges.

- Experience level:

- Intermediate and up.

Important limitations and usage notes

- Market regime sensitivity: Breakout systems typically perform best in trending/volatile conditions and can chop during ranges. Expect streaks.

- Timeframe: Designed and validated on H1. Other timeframes are allowed but not validated by default settings.

- Next-bar execution: Signals are taken after the bar closes; fills occur at the next bar open and can gap through SL/TP in fast markets.

- Costs matter: Spread/commission/swaps significantly impact net results—configure risk and sessions accordingly. Avoid ultra-thin hours if your broker’s costs widen.

- Session/time zone: By default the session filter uses UTC. If you prefer broker/server time, switch the bot’s time zone accordingly.

- One instance per symbol/label: Do not run multiple instances on the same symbol with the same label unless you intend to manage multiple positions.

- News and weekends: Consider pausing around major news and avoid holding through weekend gaps if your risk tolerance is low.

- No guarantees: Past backtests or examples are not promises of future returns.

Disclamer: Backtesting results are for 5% "Risk per trade" but default risk is with value of 1% much more conservative.