Gold Scalping Expert MT5 is an Expert Advisor specifically designed for short-term Gold (XAUUSD) scalping, using specific logic for entries, exits, and trade management. This EA focuses on low-risk initiation with small initial lot sizes and uses trailing stops to lock in profits. With core settings supporting both buy and sell orders, and the ability to manage multiple market and pending orders, Gold Scalping Expert MT5 leverages ZigZag-based reversal logic to capture small market movements.
🔧 1. Core Trading Parameters
| Parameter | Value | Explanation |
|---|---|---|
| Open new series | true | EA is allowed to initiate new trading cycles. |
| Trade Buy / Sell | true | Both buy and sell operations are enabled. |
| Support manual orders | true | EA will not interfere with manual trades. |
| Max Market Orders | 20 | EA can open up to 20 market orders simultaneously. |
| Max Pending Orders | 4 | Allows a maximum of 4 pending orders in the market. |
| Order Comment | Gold Scalping | Tag used to label trades in the terminal history. |
💰 2. Lot Size & Risk Settings
| Parameter | Value | Explanation |
|---|---|---|
| Start Lots | 0.01 | Smallest possible lot — good for micro accounts. |
| Use Money Management | false | Fixed lot size, no auto scaling with balance. |
| Autolot (Free Margin per 0.01 Lots) | 1000 | If enabled, calculates position size based on free margin. |
✅ These settings prioritize low initial risk, perfect for testing or small account usage.
🎯 3. Entry/Exit Logic
| Parameter | Value | Explanation |
|---|---|---|
| TP (Take Profit) | 350 points (~35 pips) | Target profit per trade. |
| SL (Stop Loss) | 0 | No fixed stop loss – floating or trailing stop used instead. |
| Trail Start | 200 | Trailing stop activates after 20 pips. |
| Trail Step | 120 | Trailing step interval – keeps stop loss behind price by 12 pips. |
| Close from reverse signal | false | Trades are not closed automatically on signal reversal. |
⚠️ No fixed stop loss is risky in high volatility conditions like gold trading.
🕓 4. Time Management
| Parameter | Value | Explanation |
|---|---|---|
| Start Hour | 0 | EA runs all day (no time filter). |
| End Hour | 0 | EA is active 24/5. |
📊 Display & Visualization
| Parameter | Value |
|---|---|
| Draw on-off | true |
| Font Result | Verdana |
| Font Size Result | 14 |
| Font Color | White |
| Background Color | Green |
✅ Visual display helps track live or backtested results directly on the chart.
📐 ZigZag Indicator Settings
| Parameter | Value | Explanation |
|---|---|---|
| Depth | 12 | Controls how far back price is considered for peaks/troughs. |
| Deviation | 5 | Minimum required price deviation for a new swing. |
| Backstep | 3 | Minimum number of bars between highs/lows. |
🧠 This configuration indicates that the EA uses ZigZag-based reversal logic for entry signals — a common but effective scalping method.
🧩 Magic Number & Panel Customization
- Magic EA:
111024(used to track and separate EA trades) - Panel & Button Colors: Fully customized interface
- Font: Arial, Font Size: 10
📌 Conclusion: Is Gold Scalping Expert MT5 Worth Using?
The Gold Scalping Expert MT5 EA is designed for fast, low-lot trading on gold, capitalizing on small market reversals using a ZigZag indicator. Here’s a quick breakdown:
✅ Strengths
- ✅ Simple, effective logic ideal for short-term XAUUSD scalping
- ✅ Low-risk entry with 0.01 lot size
- ✅ Trailing stop logic to lock in profits
- ✅ Custom panel and visual output included
- ✅ Built-in logic to manage multiple market & pending orders
⚠️ Risks
- ⚠️ No hard stop loss: Exposes the account to large drawdowns in case of sharp gold price movement.
- ⚠️ Fixed lot usage may not scale well with account growth unless money management is manually adjusted.
- ⚠️ 24/5 trading without time filtering may increase exposure to high volatility news events.
