🧩 What is Golden Mirage EA?
Golden Mirage is configured as a grid-based automated trading system with multiple technical filters (RSI, ADX, Moving Average, High/Low detection) and risk control mechanisms. The setup shown in the images prioritizes signal filtering and controlled exposure, rather than aggressive martingale behavior.
This configuration appears designed for medium-risk trading, suitable for live accounts and prop firm challenges, provided capital and drawdown limits are respected.
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🧩 Core Trading Parameters
🔹 Lot & Risk Management
- Start Trade Volume:
0.01 - Risk Level:
8.0 - Autolot: Enabled
- Sort Lot (for accounts > $7000): Disabled
👉 Analysis:
A 0.01 starting lot combined with autolot and risk level 8 suggests moderate risk scaling. This setup avoids extreme martingale behavior while still allowing growth as balance increases.
🔹 Spread & Execution Safety
- Spread Allowed:
3000 - Unique Magic Number:
483726
👉 Analysis:
The spread allowance is very wide, meaning the EA will trade even during volatile conditions. This can increase risk during news or low-liquidity periods. However, the unique magic number ensures order separation from other EAs.
🧩 Prop Firm Risk Controls
- Enable Prop Firm Settings: Disabled
- Max Drawdown Percentage:
9% - Max Daily Drawdown:
4% - Randomized Trades: Disabled
👉 Analysis:
Although prop firm settings are disabled, the presence of conservative DD limits indicates the EA is prop-firm ready. Enabling these settings would improve compliance with firms like FTMO or MyFundedFX.
🧩 Indicator Filters (Core Strength)
🔹 RSI Filter (Enabled)
- RSI Lengths:
7 / 11 - Overbought:
75 - Oversold:
40 - Timeframe:
M5 - Source: Close price
👉 Analysis:
This RSI configuration is trend-aware rather than scalping-only, reducing false entries. Oversold at 40 (instead of 30) suggests early trend participation, not reversal chasing.
🔹 ADX Strength Filter (Enabled)
- ADX Length:
6 - Minimum ADX (Long):
55 - Minimum ADX (Short):
45 - Invert ADX Direction: Enabled
👉 Analysis:
A strong ADX filter (above 45–55) ensures trades occur only during high momentum markets. Inverting ADX direction indicates the EA may favor pullbacks within strong trends, a professional-level logic.
🔹 Moving Average Filter (Enabled)
- Short-term MA:
60 - Long-term MA:
55 - Sell-side MA:
40 / 30 - Type: Simple MA
- Timeframe: M5
👉 Analysis:
The close proximity of MA values shows the EA focuses on micro-trend alignment rather than long-term trend following. This suits intraday grid strategies and avoids over-filtering.
🧩 High / Low Detection & Entry Logic
- High/Low Detection: Enabled
- Lookback Candles:
7 - Trend Following Logic: Disabled
- Adaptive Trigger Logic: Enabled
👉 Analysis:
Golden Mirage identifies recent liquidity zones and reacts adaptively rather than following strict trends. This enhances mean reversion within momentum, ideal for ranging or controlled trending markets.
🧩 Trading Schedule & Days
🔹 Time Control
- Scheduled Trading: Disabled
- Trading Window: 15:00 – 21:00
- Friday Close Protection: Disabled
🔹 Trading Days
- Monday–Friday: Enabled
- Saturday–Sunday: Disabled
👉 Analysis:
While scheduling is disabled, trading days are well-controlled. Activating Friday close protection is recommended to reduce weekend gap risk.
🧩 Trade Directions & Order Handling
- Allow Buy & Sell: Enabled
- Buy & Sell Simultaneously: Enabled
- FIFO Closing: Disabled
- Allow New Series: Enabled
👉 Analysis:
The EA can hedge and manage multiple series simultaneously, which increases flexibility but requires strong risk discipline.
🧩 Grid & Secondary Entry Rules
- Max Concurrent Orders:
100 - Grid Minimum Gap:
0.1% - Grid Multiplier:
1.0 - Single Trade per Bar: Enabled
- Execution Timeframe: M5
👉 Analysis:
Despite allowing up to 100 orders, the non-multiplied grid (1.0) prevents lot explosion. This is a safer grid approach compared to martingale EAs.
🧩 Take Profit & Close Logic
- Take Profit:
0.08% - First Order TP:
0.06% - Close at Candle Completion: Enabled
- Close Timeframe: M5
👉 Analysis:
Small TP targets confirm a high-frequency, low-exposure strategy, ideal for consistent equity growth rather than large single wins.
🧩 Loss Cap & Financial Protection
- Loss Cap Enabled: Yes
- Loss Cap Amount:
300 - Scale Loss Cap with Lot Size: Enabled
- Close All Trades at Limit: Enabled
👉 Analysis:
This is a strong safety mechanism, preventing catastrophic losses. Especially important for grid systems and prop firm trading.
🧩 Display & Interface Settings
Mostly cosmetic settings enabled for usability; no impact on performance.
🧩 Final Verdict: Is This a Good Golden Mirage Setup?
✅ Strengths
- Multi-layer indicator filtering (RSI + ADX + MA)
- Non-aggressive grid logic
- Strong loss cap protection
- Suitable for M5 intraday trading
- Prop firm compatible with minor adjustments
⚠️ Weaknesses
- Very high allowed spread
- Friday close protection disabled
- Max concurrent orders is high (needs monitoring)
⭐ Overall Conclusion
This Golden Mirage MT4 configuration represents a balanced, professional-grade EA setup, focused on controlled grid trading with strong market filters. It avoids reckless martingale behavior and emphasizes risk-adjusted consistency.
With minor optimizations (spread limit, Friday close, prop firm mode), this setup is well-suited for:
- Live funded accounts
- Prop firm challenges
- Traders seeking steady equity growth with controlled drawdown
➡️ Overall Rating: 8.5 / 10
