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Instructions for installing and using Gold Hitter EA

Gold Hitter EA Overview

Gold Hitter EA is a cutting-edge automated trading system meticulously designed for Gold (XAUUSD) trading on the MetaTrader 4 (MT4) platform. Leveraging an advanced blend of trend-following and mean reversion strategies, this expert advisor (EA) is optimized to navigate gold market volatility with precision.

Why choose Gold Hitter EA?

  • Fully Automated Trading – Execute trades seamlessly without manual intervention.
  • Customizable Settings – Adapt strategies to suit individual risk preferences.
  • Robust Risk Management – Minimize drawdowns and protect capital.
  • Verified PerformanceMyFxBook-certified real trading results validate its effectiveness.

Backed by extensive historical backtesting and live trading success, Gold Hitter EA has demonstrated remarkable profitability. With an impressive +54.69% profit in just three months, coupled with a controlled drawdown, it stands as a reliable and profitable EA for serious gold traders.

Installation Panel Details

The Gold Hitter EA is a trading algorithm with various configurable settings, focusing on trade management, lot sizing, stop-loss/take-profit strategies, recovery mechanisms, money management, and indicator-based trading. Below is an in-depth analysis of its parameters.

Instructions for installing and using Gold Hitter EA 4

1. General Settings

  • Open New Orders?true
    • The EA is enabled to open new trades.
  • Close all orders nowfalse
    • Currently, the EA does not have an active function to close all open positions.
  • Magic Number A1111
    • This ensures that trades opened with this EA are uniquely identified and managed separately.
  • Magic Number B2222
    • A secondary magic number, potentially for managing different trade types or strategies.
  • Max Spread in Pips24
    • The EA will not execute trades if the spread exceeds 24 pips, which is a relatively high tolerance.

2. Trade Settings

  • Max buy trades10
    • The EA can open a maximum of 10 buy positions at the same time.
  • Max sell trades10
    • The EA can open a maximum of 10 sell positions at the same time.
  • Hard SL (in points)1000
    • A stop-loss of 100 pips per trade, which is quite large and suggests a long-term trading approach.
  • Take Profit600
    • A take-profit of 60 pips, giving an SL:TP ratio of 100:60, which is not ideal as the risk is greater than the reward.

3. Lot Size Configuration

  • Lot ModePercent Lot
    • The EA calculates lot size dynamically based on account balance.
  • Fixed Lot0.1
    • If the fixed lot mode were enabled, each trade would open with 0.1 lots.
  • Percent Lot0.2
    • When using percentage-based lot sizing, the EA will allocate 0.2% of the account balance per trade.

4. Trailing Stop Strategy

  • Use Trailing Stop?true
    • The EA employs a trailing stop to protect profits.
  • Trailing Start20
    • The trailing stop activates when a trade reaches 20 pips in profit.
  • Size Trailing Stop20
    • Once the trailing stop is activated, the stop-loss moves 20 pips behind the price, securing profits as the market moves in favor.

5. Break-Even Strategy

  • Use Break Even?true
    • Enables automatic break-even adjustment.
  • Break Even Start15
    • The EA will set a stop-loss at break-even when the trade moves 15 pips into profit.
  • Break Even Step3
    • The stop-loss will be adjusted every 3 pips after activation.

6. Recovery Mode

  • Enable Recovery?true
    • The EA includes a recovery mechanism to compensate for previous losses.
  • Type Recovery LotFast
    • Uses a fast lot-increase method in case of losing trades.
  • Step Size in Pips9
    • Defines the pip distance before opening a recovery trade.
  • Recovery Increment Factor1.5
    • The EA increases the lot size by 1.5x for recovery trades.

7. Money Management Settings

  • Daily Target %1.5
    • The EA will attempt to achieve a 1.5% profit per day before stopping further trading.
  • Max Daily Loss %48.0
    • If the EA experiences a 48% loss in a single day, it will stop trading.

8. Equity Protection Settings

  • Equity Caution?true
    • The EA monitors equity to prevent excessive drawdown.
  • Total % Risk to Equity Caution9.0
    • If the risk reaches 9% of total equity, the EA triggers a cautionary mechanism.
  • Timeframe as Equity Caution1 Day
    • The EA monitors risk over a 1-day period.

9. Trading Time and Filters

  • Time Filter Enabledtrue
    • The EA follows a time-restricted trading schedule.
  • Trading DaysMonday - Friday (true)
    • The EA is set to trade every weekday, avoiding weekends.
  • Trading Start Time00:00
  • Trading End Time06:00
    • The EA operates during the first 6 hours of the trading day, which may target volatility during the Asian session.

10. Indicator-Based Trading

10.1. Moving Average Settings

  • Moving Average TimeFramecurrent
  • Moving Average Period34
  • Moving Average MethodExponential
  • Moving Average PriceOpen price
  • Moving Average Shift0
    • Uses a 34-period exponential moving average (EMA) based on the open price, which is likely used for trade filtering.

10.2. HILO Indicator Settings

  • Enable Signal HILOtrue
    • The EA utilizes High-Low (HILO) indicator for trading decisions.
  • If True Invert Filterfalse
    • The filter logic is not inverted.
  • HILO TimeFramecurrent
  • HILO Period3
  • HILO MethodExponential
  • HILO Shift0
    • Uses a 3-period exponential high-low indicator, likely for trend identification.

Analysis and Recommendations

1. Positive Aspects

  • Equity Protection
    • Max Daily Loss (48%) and Risk Limit (9%) prevent excessive drawdowns.
  • Trailing Stop and Break-Even Features
    • Trailing stop activation at 20 pips and break-even settings protect profits.
  • Time-Based Trading Filter
    • The EA operates only between 00:00 – 06:00, likely optimizing for market volatility.
  • Recovery System Enabled
    • The EA includes a fast recovery system with a 1.5x multiplier, which helps regain losses.

2. Potential Issues & Improvements

  • Risk-to-Reward Ratio is Unfavorable
    • Stop-Loss (100 pips) > Take-Profit (60 pips)Risk is greater than reward.
      Suggested Change: Adjust SL:TP to 80:80 or 60:100 for better profitability.
  • Max Spread is Too High (24 pips)
    • Trading at such high spreads could lead to unnecessary losses.
      Suggested Change: Lower Max Spread to 5-10 pips for better trade execution.
  • Aggressive Recovery Mode
    • The 1.5x recovery multiplier could lead to exponential lot sizes in consecutive losing trades.
      Suggested Change: Reduce Recovery Factor to 1.2-1.3 for safer trading.

Final Summary

The Gold Hitter EA v3.9.4 is a well-structured system using moving averages and HILO indicators for trading signals. It includes trailing stops, break-even settings, equity protection, and a recovery system. However, the risk-to-reward ratio is unfavorable (100 pips SL vs. 60 pips TP), and the max spread limit (24 pips) is too high. Optimizing these values will improve performance.

SettingCurrentSuggested
Stop-Loss100 pips80 pips
Take-Profit60 pips80-100 pips
Max Spread24 pips5-10 pips
Recovery Factor1.51.2-1.3

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