Code Black EA V1.22 MT5

Introduction

Code Black EA V1.22 MT5 is a MetaTrader 5 Expert Advisor designed for automated trading on XAUUSD (gold). It uses a range/flat breakout strategy that identifies recent price ranges and places pending Buy Stop and Sell Stop orders to capture breakouts. The EA manages positions with fixed stop-loss, take-profit, and trailing stop logic, aiming to provide systematic execution without constant chart monitoring.

Key Features

• MT5 platform compatibility
• Range/flat breakout strategy focused on XAUUSD
• Pending Buy Stop and Sell Stop order placement
• Fixed stop-loss and take-profit levels
• Trailing stop activation after profit threshold
• Balance-based lot sizing option
• Time filter support for trading hours
• Fully automated entry, management, and exit

Recommended Settings

Recommended pair: XAUUSD (Gold). Recommended timeframes: M15 and H1 (also compatible with M5–M15 ranges). Always adjust point-based parameters (offsets, SL, TP, trailing) according to your broker’s XAUUSD digit settings (2-digit or 3-digit). Start with conservative lot sizing and test thoroughly on a demo account before live use. A stable VPS is advised for continuous operation.

Advantages

• Removes emotional decision-making through rule-based automation
• Provides consistent execution of range-breakout logic on gold
• Reduces the need for constant screen monitoring
• Includes predefined risk controls (SL, TP, trailing)
• Suitable for traders who prefer systematic XAUUSD breakout trading

Disadvantages

• Performance depends heavily on market conditions and range quality
• False breakouts can lead to drawdowns in choppy or low-volatility periods
• Sensitive to spread, slippage, and broker execution quality on XAUUSD
• Requires proper parameter adjustment for different broker digit formats
• Backtest results do not guarantee future performance
• Not ideal for complete beginners without prior risk management knowledge