Wick Breakout EA

XAUUSD Wick Breakout EA - Developer Summary (MT5)

Platform & Instrument

Platform: MetaTrader 5
Symbol: XAUUSD
Timeframe: All

Reference Candle Time: User inputs CandleHour and CandleMinute

Strategy Logic

- EA analyzes the candle defined by RefCandleTF at the set time. - After that candle closes:
- If price first breaks the High -> Open Buy
- If price first breaks the Low -> Open Sell

- Only the first breakout direction is traded; the opposite side is ignored.

Trade Settings

• Fixed Lot: User-defined (FixedLot)
  
• SL: input can be set a few points beyond the opposite wick (i.e. above/below the candle's full range).

• Important: If the full candle range (from low to high) exceeds MaxSL_Points, no trade is opened, trade is skipped

• TP: First entry price + given TP Distance (in points)
• Additional Entries:

• Max number is user-defined (e.g., 3)
• Each is placed EntryGap points apart in the same direction
• All positions share the same TP as the first entry
• Each uses the same fixed lot

• Max Spread: Limited by MaxSpread (points)
• Max Slippage: Limited by MaxSlippage (points)

Cooldown Logic

If TP is hit → EA disables further trading for the rest of the day

EA automatically resets and becomes active again at 00:00 UTC the next day

This is just V1 for EA, many additions will be in the next orders.