Gold Buster EA Overview
Gold Buster EA is a fully automated trading Expert Advisor (EA) designed for the MetaTrader 4 platform. It is optimized for performance on Gold (XAUUSD) and popular currency pairs like USDJPY, EURUSD, and GBPUSD.
- View backtest transaction results: Here
Installation panel Parameters
Below are the details of the parameters in the advisor’s trading system settings table:
The EA appears to handle multiple currency pairs, with specific configurations for each symbol (e.g., XAUUSD, EURUSD, USDJPY). Below, the analysis focuses on the provided parameters for managing trades.
1. Working Symbols and Spread Settings:
- Working symbols:
XAUUSD,EURUSD,GBPUSD,USDJPY- Specifies the symbols the EA trades on. Each symbol has its own configuration.
- Max spread:
50- Sets a maximum allowable spread for placing trades. The EA will not open trades if the spread exceeds 50 points, which helps reduce trading costs in volatile markets.
2. Lot Sizing and Position Management:
- Method of adding positions:
current orders- The EA calculates and manages additional positions based on currently open orders.
- Money for open auto lot:
10000.0- Sets the account balance threshold for using auto lot sizing. Trades will adjust their lot sizes proportionally to the account balance.
- Autolot:
true- Enables automatic lot sizing based on account balance.
- Fix lot size:
0.01- Sets the minimum lot size to 0.01 for trades when autolot is disabled.
- Lot exponent:
1.3- Determines the multiplier for increasing lot sizes in subsequent trades (possibly in a grid or Martingale strategy).
3. Trade Entry Logic:
- Bar for analysis:
previous bar- The EA uses the previous bar for trade signal analysis, providing a confirmation-based approach.
- The distance to the moving average of the first order:
100- Ensures that the first order is placed at a minimum distance of 100 points from the moving average.
- The distance for adding new position:
35- Defines the minimum distance in points for opening additional positions after the first.
- The distance for pending order:
5- Sets the minimum distance for placing pending orders, ensuring adequate market movement before execution.
- Step for moving pending order:
1- Adjusts the pending order placement by 1 point.
4. Trade Closure and Risk Management:
- Close by Money:
5.0- Closes trades once the profit reaches $5 for the specified symbol.
- Close at loss:
100000000.0- Sets a very high loss threshold, effectively disabling automatic trade closure at a loss.
- Time for pause after loss:
24- Pauses trading for 24 hours after a loss, helping to prevent overtrading in unfavorable market conditions.
5. Time Filters:
- Use time filter:
true- Activates the time filter, allowing trades only during specified hours.
- Start time:
21:00- The EA begins trading at 21:00.
- End time:
02:00- The EA stops trading at 02:00, focusing on a specific trading window (likely optimized for gold or selected pairs).
6. Moving Average Settings:
- MA period:
10- The moving average is calculated over 10 periods, providing a short-term trend filter.
- MA shift:
0- No shift is applied to the moving average, ensuring alignment with the current price action.
- Mode MA:
Simple- Uses a simple moving average (SMA) for trend calculation.
- Type MA:
Close price- The moving average is based on the closing prices of candles.
7. News Filter:
- News On:
true- The EA incorporates a news filter to avoid trading during high-impact events.
- News before stop (min):
60- The EA stops trading 60 minutes before a high-impact news event.
- News after start (min):
60- The EA resumes trading 60 minutes after a high-impact news event.
- High news:
true- The EA reacts only to high-impact news.
- Only Future news:
true- Ensures the EA reacts only to upcoming news events, ignoring past events.
8. Comments and Identification:
- Magic Number: Various (e.g.,
202103143,202103142)- Each symbol or setup is assigned a unique magic number for trade identification.
- Comment:
Gold Buster V2- Trades executed by this EA are labeled with “Gold Buster V2” for easy identification.
Analysis and Recommendations
1. Risk Management:
- Lot Exponent: The 1.3 multiplier for lot sizes indicates the EA may be using a grid or Martingale strategy. This can lead to rapid drawdowns if the market moves against the position. Monitor this closely.
- Trade Closure: Setting the “Close by Money” to $5 ensures trades close at a small profit. However, the lack of a realistic loss threshold (“Close at loss” set to 100 million) increases the risk of significant drawdowns.
- Pause After Loss: Pausing for 24 hours after a loss is a good risk control mechanism, preventing overtrading in unfavorable market conditions.
2. Trading Time and Filters:
- Time Window: Trading from 21:00 to 02:00 focuses on a specific trading session, likely targeting lower volatility for gold or other pairs.
- News Filter: The news filter is well-configured, avoiding trades during high-impact events and ensuring stability in volatile markets.
3. Entry and Exit Logic:
- Entry Distance: Ensuring a 100-point distance from the moving average for the first order and 35 points for subsequent positions helps avoid overtrading.
- Profit Targets: Closing trades at $5 profit aligns with scalping strategies but may require adjustments based on market conditions and symbol volatility.
Recommendations
- Adjust Risk Parameters: Introduce a realistic “Close at loss” value to limit drawdowns and avoid significant account depletion.
- Monitor Lot Exponent: A 1.3 multiplier can quickly increase exposure. Test the EA with a smaller multiplier if the strategy allows.
- Test Time Window: Ensure the 21:00–02:00 window is optimal for the selected pairs, particularly XAUUSD, as gold can be volatile in overlapping sessions.
- Backtest and Optimize: Backtest the EA with current market conditions to ensure the settings (e.g., lot size, time filter, and news filter) remain effective.
Conclude
The Gold Buster EA is a robust scalping and grid-based EA designed to trade across multiple pairs, with a focus on XAUUSD. Its use of news filtering, time-based trading, and moving averages ensures strategic trade entry and risk management. However, the aggressive lot-sizing strategy and lack of realistic loss limits could lead to significant risks. Careful testing and parameter adjustments are essential for safe and effective performance.
