This guide walks through the inputs of Chefs Gold EA MT4 with the values recommended for live trading. The set files that come with the EA already contain these settings, so you can load them in one click and adjust only what your broker or account needs.
🔢 Chefs Gold EA MT4 Settings Guide
Chefs Gold EA is an automated Gold (XAUUSD) Expert Advisor developed to provide flexible trade management through multiple strategy versions, configurable compounding, hedge control, trailing stop management and spread protection.
The EA allows traders to choose between different trading profiles while optimizing money management and risk control, making it suitable for both conservative and aggressive Gold trading strategies.
🔢 Chefs Gold EA MT4 Settings Explained
🔶 Trading Time Settings
🔹 Start time (hrs) GMT+3 = 4 – Sets the trading session start time to 04:00 (GMT+3), allowing the EA to begin opening new trades from this hour.
🔹 End time (hrs) GMT+3 = 23 – Defines the trading session end time as 23:00 (GMT+3), after which the EA stops opening new positions.
🔶 Version & Compounding Settings
🔹 Which version to use = combined_v3_v6 – Selects the combined_v3_v6 trading mode, allowing the EA to operate using both Version 3 and Version 6 logic.
🔹 Compounding balance value = 400.0 – Sets the account balance interval to 400.0 for automatic lot size compounding calculations.
🔹 Lot size for compounding = 0.01 – Increases the trading volume by 0.01 lots whenever the account reaches the configured compounding balance step.
🔶 Version 3 Trade Management
🔹 Take Profit V3 (16 USD in Gold) = 160.0 – Sets the Version 3 Take Profit target to 160.0 points, approximately equal to 16 USD on Gold.
🔹 Stop Loss V3 (16 USD in Gold) = 160.0 – Sets the Version 3 Stop Loss to 160.0 points, approximately 16 USD on Gold.
🔶 Version 6 Trade Management
🔹 Take Profit V6 (15 USD in Gold) = 150.0 – Sets the Version 6 Take Profit target to 150.0 points, approximately 15 USD on Gold.
🔹 Stop Loss V6 (12 USD in Gold) = 120.0 – Sets the Version 6 Stop Loss to 120.0 points, approximately 12 USD on Gold.
🔶 Hedge Management
🔹 Maximum order count with Hedge v3 = 2 – Limits Version 3 hedge trading to a maximum of 2 simultaneous orders.
🔹 Maximum order count with Hedge v6 = 4 – Allows Version 6 hedge trading to open up to 4 simultaneous orders.
🔶 Trailing Stop Settings
🔹 Trailing SL For V3 = true – Enables the trailing Stop Loss feature for Version 3 trades.
🔹 Trailing Feature Activate at = 50.0 – Activates the trailing stop once the trade reaches 50.0 points in profit.
🔹 Trailing Stop Value = 80.0 – Sets the trailing stop distance to 80.0 points, allowing profits to be protected while giving trades room to fluctuate.
🔹 Trailing Step Difference = 20.0 – Moves the trailing stop in increments of 20.0 points after activation.
🔶 Spread Protection
🔹 Max spread to take orders = 100 – Prevents the EA from opening new trades whenever the market spread exceeds 100 points.
🔢 Conclusion
Chefs Gold EA MT4 provides a versatile trading framework by combining multiple strategy versions, automatic compounding, hedge management, trailing stop functionality, and spread protection into a single Expert Advisor. Its configurable Version 3 and Version 6 parameters allow traders to balance profitability and risk while adapting the EA to different market conditions. Whether you prefer conservative or more aggressive Gold trading, the available settings offer excellent flexibility for portfolio optimization.
🔢 FAQs
❓ What does the combined_v3_v6 mode do in Chefs Gold EA MT4?
The combined_v3_v6 mode enables both Version 3 and Version 6 trading algorithms to operate together, providing diversified trade management.
❓ How does the compounding feature work?
The EA increases the lot size by 0.01 lots whenever the account balance grows by the configured 400.0 balance increment.
❓ Can I use Chefs Gold EA MT4 only during specific trading hours?
Yes. The EA is configured to trade between 04:00 and 23:00 GMT+3, and these hours can be adjusted according to your broker's server time.
❓ What is the purpose of the trailing stop settings?
The trailing stop automatically locks in profits after the trade gains 50.0 points, maintaining an 80.0-point trailing distance with 20.0-point adjustment steps.
❓ Why does the EA include separate Version 3 and Version 6 settings?
Each version uses different trade management logic, including unique Take Profit, Stop Loss, and hedge limitations, allowing traders to optimize performance based on their preferred risk profile.
Get Chefs Gold EA MT4
Download Chefs Gold EA MT4 with its set files, read the full product details and requirements here: Chefs Gold EA MT4 →