๐งฉ What is PythonX M1 Scalper XAUUSD MT5?
The PythonX M1 Scalper XAUUSD is a high-frequency trading Expert Advisor (EA) tailored for scalping gold (XAUUSD) on the M1 (1-minute) timeframe. Its configuration indicates a price action-focused strategy with optional filtering mechanisms for trend and momentum confirmation.
Below is a breakdown of each setting:
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๐ Core Strategy Configuration:
| Variable | Value | Description |
|---|---|---|
| Use Engulfing Pattern | true | โ Enables trading based on the engulfing candlestick pattern, which is a strong reversal signal. |
| Use CCI / RSI / EMA / Volume Filters | false | โ These additional filters are turned off, suggesting the EA relies exclusively on price action for entries. |
| Enable 24-Hour Trading | false | โ The EA trades only during specific market hours, likely to avoid low-liquidity periods and high spreads. |
โก๏ธ This setup focuses on pure engulfing setups without being influenced by trend or volume filters, which may make it more reactive but less filtered.
โ๏ธ Indicator Settings:
| Indicator | Period |
|---|---|
| CCI | 14 |
| RSI | 14 |
| EMA | 50 |
| Volume Lookback Bars | 20 |
โก๏ธ Though all these indicators are defined, they are not in use (false). However, these can be turned on to increase filtering strength if needed.
๐ผ Risk Management Settings:
| Setting | Value | Description |
|---|---|---|
| Lot Configuration (Fixed) | 0.50, 0.01 | Suggests a default lot size of 0.50 with a minimum step of 0.01, suited for manual risk adjustments or fixed lots. |
| Take Profit (Pips) | 170 | A relatively wide TP, targeting large moves in gold, common for M1 breakout strategies. |
| Stop Loss (Pips) | 145 | Slightly tighter than the TP, allowing a favorable risk-reward ratio (~1.17 R:R). |
โ Conclusion:
PythonX M1 Scalper XAUUSD is a precision-driven scalping robot designed for short-term price action trading on gold (XAUUSD). With its engulfing pattern detection enabled and other filters disabled, this EA offers a fast and reactive entry system, ideal for high-volatility sessions.
It employs a defined take profit of 170 pips and stop loss of 145 pips, offering a controlled and balanced risk-reward profile. The EA does not trade 24/7, likely optimizing entries during high-liquidity market sessions to minimize slippage and spread-related losses.
Traders seeking a scalper EA that is simple, direct, and price-action-based will appreciate the flexibility and raw potential of PythonX M1 Scalper. Advanced users can fine-tune the strategy further by enabling trend or volume filters for added precision.
