Goldrangecatcher

GoldRangeCatcher EA

THIS EA WORKS FOR BOTH XAUUSD AND USDJPY FIND THE XAUUSD AND USDJPY SETFILES IN THE COMMENTS

The Goldrangecatcher is a powerful and intelligent trading algorithm specifically designed for trading Gold (XAU/USD) and Usdjpy (USDJPY) on the 1minute timeFrame. It leverages price action during pre-defined market ranges and executes precise breakout trades based on market behavior. This expert advisor is built to adapt to market volatility and uses advanced techniques to minimize risk and maximize profitability.

Key Features

1. Range-Based Breakout Strategy

   • The EA identifies high and low points within a customizable time range using real market data.
   • Pending orders are automatically placed at breakout levels to capture high-probability trades.

2. Dynamic Risk Management

   • Fully customizable stop-loss and take-profit levels, with settings based on percentages of the identified range.
   • Smart lot size validation ensures compliance with broker rules for safe trading.

3. Advanced Order Management

   • Unique one-trade-per-day feature to control overtrading and maintain disciplined risk exposure.

4. Day and Time Filters

   • Allows trading only on selected weekdays.
   • Customizable start, end, and close times to align with specific market sessions or trading strategies.

5. Intelligent Capital Protection

   • Prevents overleveraging by calculating margin availability and verifying sufficient funds for each trade.
   • Rejects invalid stop-loss levels or trades exceeding predefined account risk.

6. No Martingale or Grid Techniques

   • The EA prioritizes account safety and does not use dangerous strategies like martingale or grid trading.

7. Built-In Alerts and Error Handling

   • Alerts and error messages for invalid inputs or conditions.
   • Ensures robust operation and user transparency.

Settings

1. Trading Settings

   • Lots: Set the default lot size for each trade.
   • Magic Number: Unique identifier for the EA's trades.
   • One Trade Per Day: Enables disciplined trading with one trade per day.

2. Range Settings

   • Start/End Time: Define the time range to calculate high/low breakout levels.
   • Close Time: Specify the time to close any open positions automatically.

3. Trading Days

   • Enable or disable trading on specific weekdays.

4. Risk Management

   • Stop Loss (% of Range): Automatically set stop-loss based on the range size.
   • Take Profit (% of Range): Set take-profit as a percentage of the breakout range.

5. Advanced Features

   • Built-in Risk Filters: Prevents trades when the range is too small or too large.