Gold Asian Range Breakout
- Experts
- Version: 2.41
- Activations: 20
Gold Asian Range Breakout is an intraday Expert Advisor for XAUUSD (gold). It trades the breakout of the Asian session range at the start of the European session and closes all positions before the end of the trading day. The EA opens at most one trade per day and never holds positions overnight.
How it works
1. The EA records the high and the low of the Asian session (by default 03:00-08:00 server time). 2. The day is skipped if the range is too narrow or too wide relative to the price.
3. From 08:00 the EA waits for the price to break the range high (buy) or the range low (sell).
4. A momentum filter confirms the breakout. Eight indicator conditions are checked on closed bars: +DI/-DI, Stochastic, EMA 50 and RSI on M15, and Heikin-Ashi,
MACD histogram, CCI and EMA 50 on H1. By default at least 7 of 8 must agree with the breakout direction.
5. The stop-loss is placed behind the opposite side of the range and is limited to a set percentage of the price. The take-profit equals the stop-loss distance multiplied by the reward/risk ratio (default 2.5).
6. Optional: one additional position when the trade reaches a set profit, with the stops of both positions moved to the first entry price.
7. All positions are closed at the closing hour (default 21:00 server time).
Main features
One trade per day, no grid, no martingale, no averaging against the position.
- Every position has a stop-loss and a take-profit from the moment it is opened.
Optional skip of the US Non-Farm Payrolls day (uses the Meta Trader economic calendar).
- Two money management modes: fixed risk in percent of equity, or a step lot that doubles the base lot each time equity doubles.
Spread filter, maximum lot, maximum risk per trade and minimum equity protection.
- On-chart status panel. Optional Telegram notifications (the Telegram URL must be added in Tools > Options > Expert Advisors).
Recommendations
- Symbol: XAUUSD. The EA works on any chart timeframe (M1-H1); it reads M15 and H1 data internally. Broker server time GMT+2 in winter and GMT+3 in summer (the most common Meta Trader server time). If your server time is different, shift RangeStartHour, RangeEndHour and CloseHour by the difference. - Hedging account.
A VPS is recommended because the EA must be running during the European session.
Test the EA in the Strategy Tester with your broker data ("Every tick based on real ticks") before using it on a live account.
Input parameters Risk
- LotMode - money management mode (step lot x2 or risk percent).
X2BaseDeposit, X2BaseLot - step lot mode: starting deposit and starting lot.
RiskPer TradePercent - risk percent mode: risk per trade in percent of equity.
MinimumLot, MaximumLot - lot limits.
MaxRiskPer TradePercent - skip a trade if the loss at the stop-loss exceeds this percent of equity.
Stop TradingBelowEquity - no new trades below this equity (0 = off).
MaxSpreadPoints - maximum spread for entry, in points.
Range and time (server time)
- RangeStartHour, RangeEndHour - Asian range window.
CloseHour - closing hour; no entries after it.
MinRangePct, MaxRangePct - allowed range width in percent of the price.
Entry and exit
- BufferPrice - distance from the range border to the entry level, in price units.
SLCapPct - maximum stop-loss in percent of the price.
RR_Target - take-profit as a multiple of the stop-loss.
BreakEvenAtR - move the stop-loss to breakeven at this profit multiple (0 = off).
TradeMonday ... TradeFriday - trading days.
Momentum filter and entry mode
MinMomentumScore - how many of the 8 conditions must confirm the breakout (0 = filter off).
- EntryMode - entry on the breakout or on a retest of the broken level.
RetestMinutes - retest mode: how long to wait for the retest.
- AddAtR - open one additional position at this profit multiple (0 = off).
- SkipNFPDay - do not trade on the Non-Farm Payrolls day.
CutAfterMinutes, CutlfBelowR - close the trade if it has not reached the given profit within the given time (0 =
off).
Technical
- Magic, TradeComment, ShowStatusOnChart.
- TG_Enabled, TG_BotToken, TG_ChatID,
TG_SendStartupMessage, TG_NotifySkipped - Telegram notifications.
Backtest results are shown in the screenshots. Backtest results are not real trading results, and past results do not guarantee future results. Trading gold involves a high level of risk. Use only funds you can afford to lose.
Questions about the product can be asked in the Comments section of this page or by private message on MQL5.com.
