🔢 Algo Gold EA Premium MT4 – Complete Settings Guide & Parameter Explanation
Algo Gold EA Premium is an automated trading robot designed for MetaTrader 4, primarily focused on gold trading and multi-position management.
The EA provides configurable profit targets, trade limits, equity protection options, trading session filters and on-chart monitoring tools.
These settings allow traders to customize risk exposure, control trading activity, and optimize performance according to their account size and strategy requirements.
🔢 Algo Gold EA Premium MT4 Settings Explained
Below are the details of the parameters in the advisor’s trading system settings table:
🔶 Trading Settings
🔹 initial lot value = 0.1 — Sets the starting trade volume to 0.10 lots for the first position opened by the EA.
🔹 Stop Trading At This Equity = 0.0 — Equity-based trading stop is disabled; the EA will not stop trading based on account equity level.
🔹 Close Trades At This Loss Amount = 0.0 — Global loss-based position closure is disabled because the value is set to 0.0.
🔹 Close Trades At This Cycle Profit = 0.0 — Cycle profit closure feature is disabled; no basket profit target is specified.
🔹 Take_Profit = 50.0 — Sets the default take profit target to 50.0 units/points according to the EA's internal calculation method.
🔹 Max Daily Trades = 200 — Limits the EA to a maximum of 200 trades per day.
🔹 Maximum active trades = 50 — Allows up to 50 simultaneously open positions.
🔹 Maximum active trades per Direction = 25 — Restricts open positions to 25 Buy trades and 25 Sell trades maximum per direction.
🔶 Time Filter Settings
🔹 Use_Time_Zone_1 = false — Disables the first trading session filter; the EA can trade regardless of the specified time range.
🔹 Time_Zone_1_Start = 08:00 — Defines the starting time of Trading Session 1 as 08:00.
🔹 Time_Zone_1_End = 12:00 — Defines the ending time of Trading Session 1 as 12:00.
🔶 General Settings
🔹 Orders Comments = algo gold ea trader — Custom comment attached to every order opened by the EA.
🔹 EA magic number = 57575 — Unique identifier used by the EA to recognize and manage its own trades.
🔶 Display Settings
🔹 Shows some comments on chart = true — Enables informational text and trading statistics displayed directly on the chart.
🔹 Text Color = White — Sets all displayed chart text to White.
🔹 Show_Open_Orders_Profit = true — Displays the floating profit or loss of currently open orders on the chart.
🔹 Font Size = 8 — Uses a chart display font size of 8.
🔹 Anchor Corner = 0 — Places the information panel in chart corner position 0 (typically the upper-left corner in MT4).
🔹 Offset From corner, pixels = 10 — Positions the display panel 10 pixels away from the selected chart corner.
🔹 Space Between Rows, pixels = 17 — Sets the vertical spacing between displayed information rows to 17 pixels.
🔶 Trading Configuration Summary
🔹 Starting Lot Size: 0.10 lots.
🔹 Take Profit Target: 50.0.
🔹 Maximum Daily Trades: 200.
🔹 Maximum Simultaneous Trades: 50.
🔹 Maximum Trades Per Direction: 25.
🔹 Trading Session Filter: Available but currently disabled.
🔹 Magic Number: 57575.
🔹 Chart Monitoring Panel: Enabled.
🔹 Open Order Profit Display: Enabled.
🔢 Conclusion
Algo Gold EA Premium MT4 offers a straightforward yet flexible configuration focused on position management, trading limits and visual monitoring. With a starting lot size of 0.10, a 50.0 take-profit target, support for up to 50 active positions, and customizable time filters, the EA gives traders significant control over their gold trading operations. The built-in display panel and order management settings make it easier to monitor performance and maintain trading discipline.
🔢 FAQs
❓ What is the default lot size in Algo Gold EA Premium MT4?
The EA starts trading with an initial lot value of 0.10 lots.
❓ How many trades can the EA open simultaneously?
The maximum number of active trades is 50, with up to 25 trades per direction.
❓ Does Algo Gold EA Premium MT4 include an equity protection feature?
Yes, but the current setting Stop Trading At This Equity = 0.0 means the feature is disabled.
❓ Can I restrict trading to specific hours?
Yes, the EA includes a time filter using Time_Zone_1_Start = 08:00 and Time_Zone_1_End = 12:00, although it is currently disabled with Use_Time_Zone_1 = false.
❓ What is the purpose of the Magic Number 57575?
The Magic Number 57575 allows the EA to identify and manage only its own trades without interfering with other Expert Advisors running on the same account.
