Watermelon Price Action Range Break Closed Pending

? Price Action Strategy: Range Break Closed Pending

myfxbook : 

? 1. Break and Retest Candle Signal

This strategy identifies breakout candles that close beyond support/resistance levels. Once confirmed, pending orders are placed at the breakout range level, with EMA trend filtering:

• Buy Entry: Breaks above resistance + closes above range + above EMA → Place Buy Limit at highest range

• Sell Entry: Breaks below support + closes below range + below EMA → Place Sell Limit at lowest range

? 2. Signal Filters for Precision

• EMA Trend Filter: Confirm trend direction (Buy above EMA, Sell below EMA)

• ADX Filter: No trade if ADX < 10

• Spread Control: Avoid trades with high spread

• Price-to-EMA Distance Filter: Skip if too far from EMA

? EA Key Features

1. Timeframe Control: Supports M1 to H4 with customizable filters

2. Risk Management Tools: Equity-based lot sizing & Max Drawdown limit

3. Flexible SL/TP Settings: Support for custom Risk:Reward ratios

4. Trailing Stop Logic: Secure profits as price trends

5. Fully Automated 24/7: Ideal for passive income without screen time

? Recommended Setup

• Platform: MetaTrader 4/5 (MT5 preferred)

• Timeframe: M30, 6 set files avilable for M1, M5, M15, M30, H1 and H4

• Currency Pair: XAUUSD (Gold vs USD)

• Minimum Capital: >= $500 (>$1,000 recommended)

• Broker: Reliable broker with tight spreads

✅ Strengths & ❗ Limitations

✅ Strengths:

• 97% win rate

• Drawdown < 2% ($10k capital)

• $2,385 profit from $10,000 in a 1-year backtest

❗ Limitations:

• Lower TP vs SL may require consistent signal environment

⚙️ EA Parameter Overview

Core Strategy

• TimeFrame = 30 Minutes

• EMA_Period = 238

• PeriodBack = 258

• Pip_offset = 8

• Wating_Pending_Mins = 920

Signal Filters

• Spread = 40

• ADX_Period = 18

• ADX_Score = 16

• Distance_near_EMA = 4900

• Distance_far_EMA = 0

Risk Management

• Lot_Devided = 200,000

• SL = 2170 pips / TP = 1180 pips

• Trailing Stop = 170 pips / Step = 360 / Start = 240

Advanced Options

• On_Recovery = false

• Consecutive_losses = 2

• Recovery_Lot = 2.0

? Lot Size Calculation Examples

• Capital $10,000 → 10,000 / 200,000 = 0.05 Lots

• Capital $1,000 → 1,000 / 100,000 = 0.01 Lots

• Capital $100 → 100 / 200,000 = 0.01 Lots (rounded up)

? Breakout confirmation with range-level re-entry and high precision—built for stable, low-risk trading.