MQ5 Sniper XAUUSD identifies entries through dual Exponential Moving Averages across multiple timeframes, specifically utilizing M5 for entries and H1 for trend confirmation. Risk management is a primary focus, featuring ATR-based stop losses, trailing stops, and a fixed reward-to-risk ratio. To protect the account, the system enforces a maximum daily loss percentage, a trade count limit per day, and an automated kill switch if equity drawdown exceeds a set threshold.
Read from MQ5SniperXAUUSD.mq5. Defaults are the author's; change them in the EA's Inputs tab.
Name
Type
Default
Description
StartCapital
double
100.0
Reference capital for backtests
DailyTargetPercent
double
5.0
Daily compounding target percent
MaxRiskPercentPerTrade
double
1.0
Maximum risk per trade
MaxDailyLossPercent
double
10.0
Maximum daily loss percent
MaxTradesPerDay
int
3
Maximum number of trades per day
MaxSpreadPoints
int
50
Maximum spread (points)
MaxSlippagePoints
int
200
Maximum slippage (points)
MagicNumber
ulong
605050
Unique magic number
MinDistancePipsEntry
int
50
Minimum distance in points for limit orders
UseLimitOrders
bool
true
Enable sniper limit entries
TradeStartHour
int
0
Trading start hour (server time)
TradeEndHour
int
23
Trading end hour (server time)
Show all 34 inputs
Name
Type
Default
Description
AllowNewsFilter
bool
false
Placeholder toggle for news filter
AccountLeverage
int
2000
Reference leverage
MaxLot
double
50.0
Broker maximum lot
MinLot
double
0.01
Broker minimum lot
LotStep
double
0.01
Broker lot step
EnablePartialClose
bool
false
Enable partial closing
PartialClosePercent
int
50
Percent to close when partial close triggers
LogToFile
bool
true
Write detailed logs to file
PipSizePoints
double
10.0
Pip definition in points for gold
BaseTPPips
double
200.0
Default TP in pips (points)
ATRPeriod
double
14
ATR period for volatility calculations
ATRMultiplierSL
double
1.5
SL = ATR * multiplier
RewardToRisk
double
2.0
Reward-to-risk ratio for TP
EntryTimeframe
ENUM_TIMEFRAMES
PERIOD_M5
Entry timeframe
ConfirmationTf
ENUM_TIMEFRAMES
PERIOD_H1
Confirmation timeframe
FastEMA
int
21
Fast EMA period
SlowEMA
int
55
Slow EMA period
KillSwitchDrawdownPercent
double
30.0
Disable EA if drawdown exceeds this percent of balance
EnableTrailingStop
bool
true
Enable ATR trailing stop
TrailingATRMultiplier
double
1.0
ATR multiplier for trailing stop
DailyResetHour
int
0
Hour to reset daily statistics
ManualKillSwitch
bool
false
Manual kill switch to pause trading
How to Install It
1Download the sourceUse "Download source (.zip)" above, or clone HD-muhammad/XAU-MT5 from GitHub, and unzip it.
2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
3Copy the filesCopy the .mq5 file into Experts.
4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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