Gold SR Power Assistant for Prop Firms

Short Description

Semi-manual trading assistant for XAUUSD on MetaTrader 5. Displays support and resistance zones, detects RSI divergences and allows order execution with on-chart buttons.

Full Description

Overview

Gold Support Resistance Power Assistant is a semi-manual Expert Advisor for trading Gold (XAUUSD) on MetaTrader 5. It calculates and displays support and resistance zones, detects RSI divergences and provides an interface with buttons to execute orders directly on the chart.

The trader analyzes the market and makes the decisions. The EA handles order execution, lot calculation and risk management.

Features

Support and Resistance Zones

• Resistance calculated from the highest high over the last 130 bars, with a margin of ATR(200) x 0.5
• Support calculated from the lowest low over the last 130 bars, with a margin of ATR(200) x 0.5
• Zones are redrawn automatically on each new candle
• The number of bullish and bearish candles is displayed on each zone
• An optional midline between the two zones is available

RSI Divergence Detection

• Bullish divergence: price makes a lower low while RSI makes a higher low
• Bearish divergence: price makes a higher high while RSI makes a lower high
• An arrow and a label are displayed on the chart at each signal
• A dotted line connects the two pivot points involved
• An RSI panel is displayed in a sub-window with levels 30, 50 and 70

On-Chart Buttons

• BUY: opens a market buy order
• SELL: opens a market sell order
• CLOSE ALL: closes all open positions
• BUY LIMIT: places a pending buy order at the top of the support zone
• SELL LIMIT: places a pending sell order at the bottom of the resistance zone
• CANCEL LIM: cancels all pending orders
• BREAKEVEN: moves the stop loss to entry price on profitable positions

On-Chart Risk Controls

The following parameters can be adjusted directly on the chart without opening the settings:

• Risk as a percentage of balance, from 0.10% to 5.0%
• Automatic lot mode or fixed lot
• ATR multiplier for stop loss calculation
• Risk/reward ratio for take profit calculation

Drawdown Management

• Configurable daily drawdown limit
• Configurable total drawdown limit
• Automatic trading stop if limits are reached
• Optional stop after a daily profit target is reached

Automatic Breakeven

• The stop loss is moved to entry price automatically when the trade reaches a configurable profit level
• This function is also available manually via the BREAKEVEN button

How to Use

1. Attach the EA to a XAUUSD M5 chart
2. Observe the support and resistance zones displayed on the chart
3. Check the RSI divergence signals
4. Adjust the risk parameters using the on-chart buttons
5. Click BUY LIMIT or SELL LIMIT to place an order on the zone
6. Use the BREAKEVEN button when the position is in profit

Parameters

Recommended Setup

• Symbol: XAUUSD
• Timeframe: M5

Note

This tool is a semi-manual assistant. The trader must analyze the market and decide on entries. The EA does not open trades autonomously outside of the automatic validation mode. It is recommended to test on a demo account before using it on a live account.

Gold Support Resistance Power Assistant — Version 1.0