GoldLab London Breakout
- Experts
- Version: 1.0
- Activations: 5
Asian-range breakout EA for the London open. One trade per side per day, stop at the other side of the range, R-multiple target, session-end exit.
GoldLab London Breakout is a fully automated Expert Advisor for MetaTrader 5. It is designed for XAUUSD (gold) and also runs on other symbols such as EURUSD.
How it trades
- Builds the Asian range - the highest high and lowest low between the Range start hour and Range end hour (server time, default 00:00-07:00), measured on M15 bars.
- Filters the range - the range must be between a minimum and maximum size relative to the Daily ATR, so dead-quiet and already-exploded sessions are skipped.
- Trades the breakout at the London open - between the range end and the No new entries hour (default 07:00-12:00), a buy opens when price breaks above the range high plus a small buffer, a sell when it breaks below the range low.
- One trade per side per day - at most one buy and one sell breakout per day, and only one position at a time. Late breakouts (price already far beyond the level) are skipped.
- Stop-loss on the other side of the range (or an ATR-based stop, selectable). Take-profit at a multiple of the risk (default 2R). Optional break-even at 1R.
- Session-end exit - any open trade is closed at the Close hour (default 20:00 server time).
Risk management (built in)
- Every trade is opened with a stop-loss. There is no martingale, no grid and no averaging down.
- Position size from risk % of balance (default 1%) or a fixed lot; lots are normalised to the broker's min / max / step and reduced if free margin is not enough.
- Daily loss limit: no new trades for the rest of the day once equity is down the set % from the day-start balance.
- Max spread filter, optional trading-hours filter, and no orders while the market is closed or trading on the symbol is disabled.
- Stop-loss / take-profit are always placed outside the broker's stops and freeze levels.
- Works on hedging and netting accounts (on netting accounts it opens only when the symbol has no position).
Inputs
| Input | Default | Description |
|---|---|---|
| Range start hour | 0 | Asian range start (server time) |
| Range end hour | 7 | Asian range end = London open (server time) |
| Range timeframe | M15 | Bars used to measure the range |
| No new entries from hour | 12 | End of the breakout window |
| Close hour | 20 | Close open trades at this hour (-1 = off) |
| Breakout buffer (points) | 5 | Distance beyond the range required for a breakout |
| Max chase (range widths) | 0.5 | Skip a breakout if price is already this far beyond the level |
| Min / Max range (x Daily ATR) | 0.10 / 1.50 | Range size filter (0 = off) |
| Stop-loss placement | Other side of range | Or ATR multiple from entry |
| ATR period | 14 | H1 ATR for stops, D1 ATR for the range filter |
| Stop-loss ATR x | 1.5 | Used in ATR stop mode |
| Take-profit (R) | 2.0 | Target as a multiple of the stop distance |
| Break-even at (R) | 1.0 | Move stop to entry at this profit (0 = off) |
| Risk per trade (%) | 1.0 | Risk as % of balance, used when Fixed lot = 0 |
| Fixed lot | 0.0 | Fixed lot size (0 = use Risk %) |
| Maximum lot | 10.0 | Upper cap per trade |
| Use minimum lot if risk lot is too small | true | On small accounts trade the broker minimum instead of skipping |
| Magic number | 20271001 | Change it to run several copies on one account |
| Daily loss limit (%) | 3.0 | Stop opening trades for the day at this loss (0 = off) |
| Max spread (points) | 60 | 2-digit gold / 4-digit FX scale (100 = 1.00 USD on gold); 0 = off |
| Restrict to trading hours | false | Optional start / end hour (server time) for new entries |
| Max slippage (points) | 30 | Same scale as spread |
| Show info panel | false | Optional status panel on the chart |
Recommended
- Symbol / timeframe: XAUUSD (designed for gold), also major FX pairs such as EURUSD / GBPUSD. Attach to any timeframe chart (M15 or H1 recommended for viewing) - the range is always measured on the Range timeframe input.
- Account: any (hedging or netting), any deposit that allows the broker's minimum lot with a sensible risk %.
- VPS: recommended for uninterrupted operation.
Important notes
- No trading system can guarantee profit. Past performance, in the tester or live, does not guarantee future results.
- Always test the EA in the MetaTrader 5 Strategy Tester and then on a demo account before using real money, with your broker's own data and spread.
- Session hours are in your broker's server time - check your broker's time zone and adjust the hour inputs if needed.
- Start with a low risk % and use money you can afford to lose.
