🔢 Golden Pickaxe MT5 Settings Explained – Complete Parameter Guide
Golden Pickaxe MT5 is an advanced MetaTrader 5 Expert Advisor designed for intelligent grid trading with machine learning support, neural network filtering, adaptive money management, advanced news protection, rollover control, stock market crash detection and comprehensive risk management.
The EA provides extensive customization for professional traders seeking automated portfolio management with multiple layers of protection.
🔢 Installation Panel Parameters
Below are the details of the parameters in the advisor’s trading system settings table:
🔶 MM & Risk Settings
🔹 Check for Instances of the EA = true – Prevents multiple instances of the EA from running simultaneously on the same account.
🔹 Allow Opening a new Initial Trade? = true – Allows the EA to initiate new trading cycles.
🔹 Allow Manual Trading Buttons = false – Disables manual trading buttons on the chart.
🔹 Lot-sizing Method = Low Risk Set (0.5% load) – Uses the predefined low-risk money management model.
🔹 Fixed Lot = 0.01 – Opens trades with a fixed volume of 0.01 lots when fixed lot sizing is used.
🔹 Dynamic Lot (Balance/Equity based) = 10000.0 – Uses 10000.0 as the balance/equity reference for dynamic lot calculations.
🔹 Deposit Load % = 0.25 – Uses 0.25% deposit load for position sizing.
🔹 Fixed Initial Deposit? (Tester only) = false – Uses the actual tester balance instead of a fixed deposit.
🔹 Required Profit Target % (Tester only) = 0.0 – No percentage profit target is applied during testing.
🔹 Required Profit Target in Money (Tester only) = 0.0 – No monetary profit target is required during testing.
🔹 Tester Withdrawal (Tester only) = 0.0 – Automatic withdrawals are disabled during backtesting.
🔹 Withdrawal Amount (Tester only) = 1000.0 – Defines a withdrawal amount of 1000.0 if tester withdrawals are enabled.
🔹 Rounding Method = Round half up – Uses the "Round half up" method for lot calculations.
🔹 Max Lot per Order = 100.0 – Limits every order to a maximum size of 100.0 lots.
🔹 Auto Split? = true – Automatically splits oversized positions into multiple orders.
🔹 Maximum Spread, in pips = 150.0 – Allows trading only when the spread is below 150.0 pips.
🔹 Maximum Slippage for a non-ECN acc, in pips = 150.0 – Accepts up to 150.0 pips slippage on non-ECN accounts.
🔹 Portfolio Mode = false – Disables portfolio trading mode.
🔹 Initial Delay for Portfolio Mode, ms = 4000 – Uses 4000 milliseconds delay if Portfolio Mode is enabled.
🔹 Consider PAI Orders (Portfolio only) = false – Ignores PAI orders.
🔹 Consider WAKA Orders (Portfolio only) = false – Ignores WAKA orders.
🔹 Consider NCP Orders (Portfolio only) = false – Ignores NCP orders.
🔹 Maximum Symbols at a time = 2 – Trades a maximum of 2 symbols simultaneously.
🔹 Disable Trades on the Same Side of a Currency = false – Allows positions in the same currency direction.
🔹 Allow Hedging? = false – Prevents simultaneous opposite positions.
🔹 Allow Trading on Holidays? = false – Disables trading during holidays.
🔹 Allow to Buy/Sell = Buy and Sell – Enables both Buy and Sell trading.
🔹 Minimum Free Margin % [0=disabled] = 0.0 – Free margin protection is disabled.
🔹 Max Open Lots (Filter) = 100000.0 – Allows up to 100000.0 lots across all open trades.
🔹 Max Open Lots Adjusted For = Disabled – Automatic lot adjustment is disabled.
🔹 Max Floating Drawdown % = 100.0 – Sets the floating drawdown limit to 100.0%.
🔹 Max Floating Drawdown % for each Symbol = 100.0,100.0,100.0,100.0 – Applies 100.0% floating drawdown to each configured symbol.
🔹 Max Floating Drawdown in Money [0=disabled] = 0.0 – Money-based drawdown protection is disabled.
🔹 Max Daily Drawdown Limit % FTMO Rules = 100.0 – Daily drawdown limit is 100.0%.
🔹 Max Daily Drawdown Limit in Money FTMO Rules [0=disabled] = 0.0 – Money-based FTMO limit is disabled.
🔹 Max Daily Drawdown Reset Hour FTMO Rules (Broker time) = 0 – Resets at broker hour 00:00.
🔹 Max Daily Drawdown Type FTMO = Equity – Calculates FTMO drawdown using Equity.
🔹 Max Drawdown Action = Close trades & stop trading for 24h – Closes all positions and pauses trading for 24 hours after reaching the drawdown limit.
🔹 Do Nothing if During Rollover = false – Trading logic remains active during rollover management.
🔹 Max Drawdown Calculation = This strategy – Calculates drawdown using only this EA.
🔹 Handle Max Drawdown Events on Every Tick = false – Does not evaluate drawdown on every tick.
🔹 Check Margin for all Grid Levels = true – Verifies margin requirements before opening new grid trades.
🔹 Check Bars for Errors = true – Performs additional chart validation before trading.
🔶 Time Settings
🔹 Hour to Start Trading = 2 – Trading begins at 02:00.
🔹 Minutes to Start Trading = 0 – Starts exactly at 00 minutes.
🔹 Hour to Stop Trading = 23 – Stops trading at 23:00.
🔹 Minutes to Stop Trading = 45 – Trading ends at 23:45.
🔹 Hour to Close & Stop Trading on Friday [0=disabled] = 0 – Friday close filter is disabled.
🔹 Trade on Monday = true – Enables Monday trading.
🔹 Trade on Tuesday = true – Enables Tuesday trading.
🔹 Trade on Wednesday = true – Enables Wednesday trading.
🔹 Trade on Thursday = true – Enables Thursday trading.
🔹 Trade on Friday = true – Enables Friday trading.
🔹 Rollover Start Hour = 23 – Rollover protection starts at 23:00.
🔹 Rollover Start Minutes = 45 – Begins rollover handling at 23:45.
🔹 Rollover End Hour = 0 – Ends rollover at 00:00.
🔹 Rollover End Minutes = 15 – Completes rollover protection at 00:15.
🔹 Send Orders During Rollover = true – Allows order placement during rollover.
🔹 Remove TakeProfit During Rollover = false – Keeps Take Profit active during rollover.
🔹 Remove StopLoss During Rollover = false – Keeps Stop Loss active during rollover.
🔶 Strategy Settings
🔹 Percentage Pips Mode = true – Uses percentage-based pip calculations.
🔹 Daily ATR Period = 8 – Uses an 8-period ATR for volatility calculations.
🔹 Price Channel Period = 13 – Uses a 13-period price channel.
🔹 Price Channel Time Frame = 15 Minutes – Calculates channels on the M15 timeframe.
🔹 Channel Crossing = true – Uses channel crossing as an entry condition.
🔹 Daily EMA Period [0=disabled] = 10 – Uses a 10-period EMA daily filter.
🔹 Inverse the Rules = false – Uses the standard strategy logic.
🔹 Volatility Filter = 95.0 – Requires volatility above 95.0.
🔹 Open Opposite Trade = false – Does not hedge with opposite positions.
🔶 Machine Learning Settings
🔹 Enable Neural Network Filter = true – Activates the built-in neural network filter.
🔹 Use Built-in Perceptron Configuration = true – Uses the default AI model configuration.
🔹 Perceptron Configuration Version = 2025 – Loads configuration version 2025.
🔹 External Config File = Perceptron_Config – Loads AI settings from Perceptron_Config.
🔹 Min Probability of Profit % = 75 – Requires at least 75% predicted probability before entering trades.
Perceptron Training
🔹 Perceptron Training Mode (Tester only) = false – AI training is disabled during normal operation.
🔹 Dataset Max Size = 50000 – Uses a maximum dataset size of 50,000 samples.
🔹 Neuron in Hidden Layer [0=no hidden layer] = 100 – Configures 100 hidden neurons.
🔹 Training Algo = L-BFGS – Uses the L-BFGS optimization algorithm.
🔹 Number of Restarts = 3 – Performs 3 optimization restarts during training.
🔶 Take Profit Settings
🔹 TakeProfit for Initial Trade, in pips = 6.0 – Initial trades target 6.0 pips.
🔹 Weighted TakeProfit? = true – Calculates basket TP using weighted positions.
🔹 TakeProfit for Grid, pips = 0.0 – Uses automatic grid TP calculation.
🔹 TakeProfit #1 after this Level [0-disabled] = 0 – TP Level 1 is disabled.
🔹 TakeProfit #1 after X bars [0-disabled] = 0 – Bar-based TP Level 1 is disabled.
🔹 TakeProfit #1 can also be negative, [0=breakeven] = 0.0 – Uses breakeven only.
🔹 TakeProfit #2 after this Level [0-disabled] = 0 – TP Level 2 is disabled.
🔹 TakeProfit #2 after X bars [0-disabled] = 0 – Time-based TP Level 2 is disabled.
🔹 TakeProfit #2 can also be negative, [0=breakeven] = 0.0 – Uses breakeven.
🔹 TakeProfit #3 after this Level [0-disabled] = 0 – TP Level 3 is disabled.
🔹 TakeProfit #3 after X bars [0-disabled] = 0 – Time-based TP Level 3 is disabled.
🔹 TakeProfit #3 can also be negative, [0=breakeven] = 0.0 – Uses breakeven.
🔹 Hide TakeProfit? = false – Displays Take Profit orders.
🔹 Use OPO method to handle TP = false – OPO TP management is disabled.
🔹 TF for OPO method = 15 Minutes – Uses M15 if OPO is enabled.
🔹 Do not adjust TP unless new grid level opened = false – TP may update whenever needed.
🔶 Stop Loss Settings
🔹 StopLoss for Grid, in pips (5000pips if zero) = 0.0 – Uses the default emergency Stop Loss.
🔹 Hide StopLoss? = false – Stop Loss remains visible.
🔹 Trailing SL Size, in pips [0-disabled] = 0.0 – Trailing Stop distance is disabled.
🔹 Trailing SL Start, in pips = 100.0 – Starts trailing after 100.0 pips.
🔹 Randomize Order/TP Levels = false – Does not randomize execution prices.
🔹 Max Random Delay before sending Orders, sec [0-disabled] = 0.0 – No random execution delay.
🔹 Allow sending SL along with an order (for a non-ECN acc.) = false – Sends SL separately.
🔹 Cover Swaps = true – Adjusts strategy to compensate for swap costs.
🔶 Grid Settings
🔹 Trade Distance = 80 – Grid spacing is 80 pips.
🔹 Pause Between Grid Trades, in min [0-disabled] = 0 – No waiting period between grid entries.
🔹 Smart Distance? = false – Uses fixed grid spacing.
🔹 2nd Trade Multiplier = 1.0 – Second position keeps the same lot size.
🔹 3rd–5th Trade Multiplier = 2.0 – Third to fifth trades double the lot size.
🔹 6th+ Trade Multiplier = 1.5 – Sixth and later trades use 1.5× multiplier.
🔹 Maximum Trades = 9 – Limits the basket to 9 trades.
🔹 Custom Multipliers sep. by comma = 1,2,4,8,14,24,41,69 – Uses custom progression for grid levels.
🔹 Calculate Levels from Initial Trade = true – Grid distances reference the first trade.
🔹 Grid Level to Start (1 initial trade) = 1 – Grid starts from level 1.
🔹 Keep Original Profit Level & Lot Size = false – Allows dynamic TP and lot recalculation.
🔹 Force Basket Closure once the Initial Order is Closed = false – Remaining trades continue after the first closes.
🔹 Send Push Notification after this Level [0-disabled] = 0 – Push notifications are disabled.
🔶 News Filter Settings
🔹 News Filter Enabled = true – Enables advanced news protection.
🔹 News Filter Action = Prohibit opening of the initial trade – Blocks new initial entries during news events.
🔹 Disable Trading on Bank Holidays = false – Trading continues on bank holidays.
🔹 Disable Built-in News Filter Settings = false – Uses built-in news settings.
🔹 Custom Events = USD – Monitors USD-related events.
🔹 Medium Impact News = false – Ignores medium-impact events.
🔹 Low Impact News = false – Ignores low-impact events.
🔹 Speaks = false – Speech notifications are disabled.
🔹 Wait Minutes Before Event = 15 – Stops opening new trades 15 minutes before news.
🔹 Wait Minutes After Event = 15 – Resumes trading 15 minutes after news.
🔹 Increase Take Profit, in pips [0-disabled] = 0.0 – TP adjustment around news is disabled.
🔹 Show News List = true – Displays the economic calendar.
🔹 News List Refresh Rate = Every 3 hours – Refreshes news every 3 hours.
🔶 Stock Market Crash Filter
🔹 Stock Market Crash Filter Enabled = false – Crash protection is disabled.
🔹 Stock Market Symbol = US500, SPX500 – Uses US500/SPX500 as the volatility benchmark.
🔹 Filter Period = 48 – Uses a 48-period historical window.
🔹 Max Historical Volatility (HV), in % = 40.0 – Uses 40.0% as the HV threshold.
🔹 Block Trading for the Entire Day = false – Trading continues after volatility spikes.
🔶 Additional Settings
🔹 Trade Comment = GP – Adds GP as the order comment.
🔹 UID (0...9) = 0 – Uses unique identifier 0.
🔹 Basic Magic Number = 71640 – Assigns Magic Number 71640 to all EA trades.
🔹 Show Panel = true – Displays the EA dashboard.
🔹 Show Stats = false – Hides statistical information.
🔹 Show the next Grid's Price & Volume = false – Does not display upcoming grid details.
🔹 Font Size (1...8) = 6 – Uses font size 6.
🔹 Debug Mode = false – Debug logging is disabled.
🔶 Backtest Settings
🔹 Disable Automatic GMT Detection = false – Automatically detects GMT during live trading.
🔹 GMT Test/Manual = 2 – Uses GMT offset 2 for testing.
🔹 DST Test/Manual = US – Applies US Daylight Saving Time rules.
🔢 Conclusion
Golden Pickaxe MT5 is a feature-rich AI-powered grid trading Expert Advisor that combines machine learning, neural network filtering, adaptive money management, ATR-based market analysis, advanced news protection, rollover management, stock market crash filtering and extensive drawdown controls.
With highly configurable trading parameters and robust portfolio protection tools, it provides experienced MetaTrader 5 traders with a flexible framework for optimizing automated trading while maintaining disciplined risk management.
🔢 FAQs
❓ What is the main trading strategy of Golden Pickaxe MT5?
Golden Pickaxe MT5 uses an adaptive grid trading strategy enhanced with neural network filtering and machine learning probability analysis.
❓ Does Golden Pickaxe MT5 include AI features?
Yes. The EA includes a built-in neural network, Perceptron configuration, configurable AI training parameters, and probability-based trade filtering.
❓ Can Golden Pickaxe MT5 trade both Buy and Sell positions?
Yes. The default configuration allows both Buy and Sell trading directions.
❓ Does the EA include an economic news filter?
Yes. It features an advanced news filter that blocks new initial trades before major economic events and resumes trading after the configured waiting period.
❓ Is Golden Pickaxe MT5 suitable for professional risk management?
Yes. The EA provides advanced drawdown protection, FTMO-style limits, adaptive lot sizing, rollover management, stock market crash filtering, neural network validation, and comprehensive grid management for professional automated trading.
