Gold Trend Scalping MT4 Overview
Gold Trend Scalping EA is an advanced Expert Advisor (EA) crafted for trading Gold (XAUUSD) on the MetaTrader platform. This powerful EA utilizes a trend-following strategy, leveraging a SuperTrend indicator to identify the dominant market trend on higher timeframes.
Once the primary trend is determined, the EA executes trades on the M15 timeframe, aiming to take advantage of the market’s momentum. Designed for precision and efficiency, Gold Trend Scalping EA helps traders maximize profit opportunities by aligning with the prevailing trend, making it an essential tool for Gold traders looking for a reliable, automated trading solution.
- View backtest transaction results: Here
Installation panel Parameters
Below are the details of the parameters in the advisor’s trading system settings table:
1. Time Settings
- StartHour:
1 - StartMinute:
2- The EA starts trading at 01:02.
- FinishHour:
23 - FinishMinute:
59- The EA stops trading at 23:59.
- FridayCloseHour:
20 - FridayCloseMinute:
55- On Fridays, the EA closes trading earlier, at 20:55, to avoid weekend risks.
2. General Settings
- Comment:
Gold_Trend_Scalping- The trades executed by this EA will include this comment for identification.
- Magic number:
202401013- A unique identifier for the EA’s trades, ensuring no conflict with other EAs or manual trades.
3. Trade Settings
- Padding to top/bot (points):
10- Sets the distance (in points) above or below price levels for trade placements.
- Max number of trades per trend:
12- Limits the number of trades that can be opened in the direction of a single trend.
- Super trend timeframe:
1 Hour- The EA determines trends using the 1-hour timeframe, likely based on a super trend indicator.
- inp_order_type:
BOTH- The EA places both buy and sell trades, depending on trend direction.
4. Money Management
- Selected money management method:
Use a fixed trading volume- Indicates the EA uses fixed lot sizes unless otherwise specified.
- Volume for each trade (used if FIXED_VOL):
0.01- The lot size for each trade is set to 0.01 when using fixed volume.
- Risk percentage of balance (used if FIXED_RISK):
1.0- If risk-based sizing is enabled, the EA risks 1% of the account balance per trade.
- Fixed amount of money in account currency (used if FIXED_MARGIN):
5.0- Specifies a fixed monetary risk of $5 per trade when using fixed margin.
- Auto scale volume:
true- Enables automatic adjustment of lot sizes based on account balance.
5. Trailing Stop Settings
- Trailing step (points):
10- The trailing stop adjusts by 10 points as the market moves in favor.
- Trailing stop loss (points):
30- Sets the distance for the trailing stop to follow the price.
- Start trailing (points):
230- The trailing stop activates after the trade has gained 230 points.
6. Other Settings
- Max number of active orders:
2- Limits the EA to two open trades at a time.
- Open orders on same places:
false- The EA avoids opening trades repeatedly at the same price levels.
7. Contact Information
- MQL5:
https://www.mql5.com/en/users/lothmailoan- Contact details for the developer or support.
- Warnings:
- Advises users to avoid scams, cracked products, and unauthorized sellers. This ensures users only obtain the EA from official sources.
Analysis and Recommendations
1. Risk Management
- Fixed Lot Size: The fixed lot size of
0.01is conservative and suitable for small account balances. If auto-scaling is enabled, ensure it aligns with your risk tolerance. - Max Trades Per Trend: Allowing up to 12 trades per trend can lead to significant exposure, especially in volatile gold markets. Consider reducing this to 5-7 trades to mitigate risk.
- Trailing Stop: The trailing stop activates after 230 points of profit and adjusts in 10-point increments. This is a good balance for locking in profits but may require optimization for volatile market conditions.
2. Trade Settings
- Super Trend Timeframe: Using the 1-hour timeframe for trend determination ensures trades align with medium-term market movements. This is suitable for trend-following strategies.
- Order Types: The EA trades both buy and sell orders, offering flexibility. Ensure this matches your market outlook and trading goals.
3. Time Management
- Trading Hours: The EA operates from 01:02 to 23:59, covering almost the entire trading day. On Fridays, trading stops earlier to avoid weekend gaps, which is a good risk management practice.
Recommendations
- Backtesting and Optimization: Perform backtests to assess the performance of the trailing stop and super trend timeframe. Optimize parameters for specific market conditions, particularly for gold.
- Adjust Max Trades Per Trend: Limit the number of trades per trend to reduce exposure during volatile periods.
- Monitor Lot Scaling: If auto-scaling is enabled, ensure the risk per trade does not exceed acceptable levels as the account balance grows.
- Set Alerts: Use alerts to monitor the EA’s activity and performance, especially during high-impact news events.
Conclusion
The Gold Trend Scalping EA EA is designed for medium-term trend trading with a focus on scalping strategies. It offers robust risk management features like trailing stops, auto-scaling, and limited active orders. However, its aggressive trade limits (12 trades per trend) and high trailing activation level may require adjustment. Proper backtesting and careful parameter optimization are crucial for maximizing performance and minimizing risk.
