Target Sniper

Target Snipper is an automated trading system developed for XAUUSD (Gold). It uses algorithmic logic and data-driven analysis to identify trading opportunities based on predefined rules and systematic market evaluation across multiple timeframes.

Supported Settings

• Symbol: XAUUSD (primary)
• Recommended Brokers: IC Markets, VT Markets, or any broker with ECN / RAW / Low Spread account type
• Timeframe: Any chart timeframe (M15 recommended). The EA reads its own internal timeframes automatically.
• Strategy Type: Algorithmic / Data-Based / Multi-Timeframe
• Single Order Trading: Yes (one position at a time)
• Minimum Deposit: 200 USD for 0.01 lot (500 USD recommended with the default 1% risk setting)
• Maximum Positions: 1
• Broker Compatibility: Works with 2-digit, 3-digit and 5-digit brokers, any deposit currency, any GMT offset, netting and hedging accounts
• Setup Required: Basic (attach to chart and enable algo-trading)

Key Functional Components

1. Position Control:  The EA manages one position at a time and does not use martingale, grid, hedging or arbitrage methods. Every trade is opened with a fixed stop-loss defined in pips in the input parameters. A new entry is only considered after the previous position has closed and market conditions have been re-evaluated.
2. Risk Handling:  Users can choose a fixed lot size or automatic lot sizing based on a percentage of account balance. A maximum lot cap prevents oversized positions. Trades are blocked during abnormally high spreads to protect execution quality. An optional daily loss limit pauses trading for the rest of the day once the defined loss is reached. An optional daily trade limit and a trading-session filter (server time) are also available.
3. Data-Driven Logic:  The system processes closed-bar market data to evaluate trading conditions. Internal filters assess market state and price behavior before any order is placed, and a trade is opened only when all conditions agree. No external services, online AI engines or third-party data feeds are required. All computation runs locally within MetaTrader 5.
4. Execution Module:  This module checks every order before it is sent and manages open trades afterwards:

• Monitors spread, trading session and symbol trade status before sending any order.
• Verifies available margin before placing a trade, so orders are not rejected for insufficient funds.
• Respects broker stop and freeze levels, and pauses automatically while the market is closed, so there are no repeated failed orders or modifications.
• Includes a trailing stop that activates once a position reaches a defined profit threshold and locks in gains progressively.
• Offers an optional break-even, an optional partial close at a first profit target, and an optional time-based exit for trades that do not develop.
• Can close a position early when market conditions turn against it.

5. Dashboard. A clean on-chart panel shows EA status, the entry checklist, active position details (entry, SL, floating P/L, exit plan) and performance statistics: balance, equity, today’s result, win rate, profit factor, spread and loss streak.

How to Start

1. Attach Target Snipper to a XAUUSD chart (M15 recommended).
2. Choose your lot mode: a fixed lot, or risk % per trade.
3. Adjust the SL, trailing and protection settings if required (default settings are pre-optimized).
4. Enable algo-trading in MetaTrader 5.
5. The EA will begin monitoring and operate according to its internal rules.

For ECN brokers such as IC Markets, use a Raw Spread or True ECN account for best results. A VPS is strongly recommended for uninterrupted operation.

Usage Notes

Trading frequency may vary, and there can be periods when no trades are opened, depending on market conditions and internal filter states. Results depend on broker execution quality, spreads, VPS stability and overall market volatility.

It is strongly recommended to test different configurations in the MetaTrader 5 Strategy Tester before deploying to a live account. The EA is designed for ECN-type brokers, and performance on market-maker or fixed-spread brokers may differ.

A minimum account balance of 200 USD is required for safe operation at 0.01 lot size. A balance of 500 USD or more is recommended when using the default 1% risk-per-trade setting. Past performance does not guarantee future results.

Developed by Premananth R.