🧩 What is GoldBot One MT4?
The GoldBot One MT4 Expert Advisor (EA) is a fully automated trading system built for the MetaTrader 4 platform, designed primarily to trade XAUUSD (GOLD). The configuration settings visible in the panel indicate a powerful, flexible, and safety-conscious approach to gold trading.
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⚙️ General Information and Core Configuration
- ShowInfoPanel = true
→ The EA displays real-time trade information directly on the MT4 chart, helping users monitor performance and open trades conveniently. - Adjustment for Infopanel Size = 1.0
→ Controls the display size of the information panel for readability. A neutral value (1.0) ensures clarity across all screen resolutions. - Update Infopanel During Testing = false
→ Reduces backtest lag, focusing on faster optimization speed during historical simulations. - Comment for Trades = GoldBot_One
→ Each trade is tagged with this name, allowing easy identification in account history. - BaseMagicNumber = 2000
→ Assigns a unique identifier to GoldBot One’s trades, avoiding conflicts when multiple EAs run on the same account.
📈 Trading Logic and Strategy Management
- Allow Buy Trades / Allow Sell Trades = true
→ The EA executes both long and short positions, enabling two-way trading opportunities in volatile gold markets. - Run Strategy 1–8 = true
→ GoldBot One operates with eight internal strategies simultaneously. Each sub-strategy likely represents different entry models (trend-following, breakout, countertrend, etc.), ensuring diversification and adaptability across market conditions. - Maximum Allowed Spread = 500.0
→ The EA can operate even in higher spread conditions typical of XAUUSD, though traders may reduce this for tighter execution on ECN accounts. - Friday Stop Hour (Broker Time; Close All Trades) = 25
→ Ensures all trades are closed before the market weekend to prevent gap risks or slippage from Friday-to-Monday price gaps. - Fake Breakout Filter = ON
→ Prevents entries during false breakout scenarios—a crucial feature for gold markets, where sudden spikes are common.
🔐 Trade Management and Safety Features
- Use Virtual Expiration = true
→ Stop Loss and Take Profit levels are hidden from brokers, reducing the risk of broker-side manipulation. - Slippage and Randomization Settings = Neutral (0.0)
→ Indicates precise order execution without randomized entry offsets, ensuring consistent backtesting results. - Set SL/TP After Entry = false
→ Stop Loss and Take Profit are predefined before trade entry for maximum order accuracy. - AutoGMT = true, GMT_Offset_Winter = 2, Summer = 3
→ Automatically adjusts to broker time, ensuring accurate session alignment across time zones and Daylight Saving Time periods.
📰 NFP and News Filter Configuration
- EnableNFP_Filter = true
→ GoldBot One suspends trading during the Non-Farm Payroll (NFP) period, one of the most volatile times in the forex market. - NFP_CloseOpenTrades = true / NFP_ClosePendingOrders = true
→ All open and pending orders are automatically closed before the NFP event to protect against sudden spikes. - NFP_MinutesBefore = 180 / NFP_MinutesAfter = 50
→ Trading pauses three hours before and resumes 50 minutes after the news release, ensuring stable execution during high-impact events.
💹 Lot Size and Risk Management
- StartLots = 0.01 / LotsizeStep = 1000
→ The EA begins with a micro-lot, suitable for low-risk trading and scalability. - Max Risk Per Strategy = 6.0%
→ Each of the eight strategies has an individual risk cap, offering layered protection against overexposure. - AdjustLotsizeToVariableValues = true
→ Automatically modifies lot sizes based on account equity, maintaining consistent percentage-based risk. - Use Equity Instead of Balance = false
→ The EA uses account balance (not floating equity) for lot size calculation, ensuring predictable position sizing. - OnlyUp = false
→ The EA allows both buy and sell entries, not limited to bullish trends only. - Check for Free Margin Before Setting Trades = true
→ A vital risk control that prevents over-leveraging and margin calls.
🧠 Prop Firm and Compatibility Features
- AdjustEntry / AdjustSL / AdjustTP / AdjustTrailSL / AdjustBE = 0.0
→ Indicates the EA is adaptable for proprietary firm conditions (e.g., FTMO, MyForexFunds) where strict drawdown and lot rules apply. - Set Balance to Use Manually = 0.0
→ Can simulate smaller balance values for prop firm testing or scaling challenges. - Use Max Daily Drawdown (Prop Firms) = true
→ Integrates protection mechanisms to stay compliant with prop firm drawdown limits.
🧩 Summary of GoldBot One MT4 Settings
| Category | Key Features |
|---|---|
| Trading Logic | 8 internal strategies (trend, breakout, reversal) |
| Trade Management | Virtual SL/TP, NFP protection, weekend close |
| Risk Control | Max 6% per strategy, equity-based scaling |
| Market Adaptation | Auto GMT adjustment, spread filtering, news filter |
| Prop Firm Ready | Built-in drawdown protection and balance scaling |
| Execution Quality | Slippage control, false breakout filter, accurate order handling |
✅ Conclusion: Professional Gold Trading Automation
The settings in this screenshot reveal that GoldBot One MT4 is a highly configurable and safety-oriented trading system designed to handle the volatility of gold (XAUUSD) efficiently.
Its combination of multi-strategy logic, strong risk control, and news/event filtering makes it suitable for both funded account challenges and long-term portfolio trading.
With built-in adaptability for prop firm rules, automatic GMT adjustment, and advanced virtual trade protection, GoldBot One MT4 demonstrates a strong commitment to precision, consistency, and risk safety, making it a professional-grade solution for serious traders.
