🔢 Goldwave Ultra EA MT5 – Complete Settings & Configuration Guide
Goldwave Ultra EA MT5 is an automated trading Expert Advisor designed with a comprehensive framework for position sizing, fixed SL/TP protection, economic-news filtering, daily trade limits, prop-firm risk controls, weekly market filters, night-session protection, and on-chart monitoring.
The configuration shown provides extensive control over how the EA calculates trading volume, protects positions, handles high-impact news, limits daily activity, manages drawdown, and adapts to different account types. Below is a complete SEO-friendly breakdown of every visible setting and value from the supplied configuration.
🔄 Position Size Settings
🔹 sep1 = POSITION SIZE — Section separator identifying the Position Size configuration.
🔹 Select the preferred position-sizing profile = LOT_CONSERVATIVE — Selects the LOT_CONSERVATIVE position-sizing profile, indicating a conservative predefined lot-sizing approach.
🔹 Fixed trade volume used when Fixed mode is selected = 0.01 — Sets the fixed trading volume to 0.01 lot when Fixed mode is selected.
🔹 Account equity represented by each Auto Lot sizing unit = 1000.0 — Defines 1000.0 units of account equity as one Auto Lot sizing unit.
🔹 Trade volume assigned to each Auto Lot sizing unit = 0.01 — Assigns 0.01 lot of trading volume to each Auto Lot sizing unit.
🔹 Maximum trade volume permitted by the EA = 10.0 — Limits the maximum individual trade volume to 10.0 lots.
🔹 Minimum trade volume permitted by the EA = 0.01 — Sets the minimum permitted trade volume to 0.01 lot.
🔄 SL/TP Settings
🔹 sep2 = SL/TP — Section separator for Stop Loss and Take Profit configuration.
🔹 Apply the EA's fixed protective stop-loss = true — Enables the EA's fixed protective Stop Loss.
🔹 Fixed stop-loss distance, expressed in points = 5000.0 — Sets the fixed Stop Loss distance to 5000.0 points.
🔹 Apply the EA's fixed take-profit objective = true — Enables the EA's fixed Take Profit objective.
🔹 Fixed take-profit distance, expressed in points = 5000.0 — Sets the fixed Take Profit distance to 5000.0 points.
🔄 News Filter Settings
🔹 sep_news = NEWS FILTER — Section separator for economic-news protection.
🔹 Restrict new entries around scheduled economic events = true — Enables restrictions on new entries around scheduled economic events.
🔹 Block new entries this many minutes before a filtered event = 30 — Prevents new entries beginning 30 minutes before a qualifying filtered news event.
🔹 Resume new entries this many minutes after a filtered event = 15 — Allows new entries to resume 15 minutes after the qualifying event.
🔹 Include high-impact economic events in the protection window = true — Includes high-impact economic events in the news-protection window.
🔹 Include medium-impact economic events in the protection window = false — Excludes medium-impact economic events from the protection window.
🔹 Include low-impact economic events in the protection window = false — Excludes low-impact economic events from the protection window.
🔹 Enable enhanced event-level news filtering = true — Enables enhanced filtering at the individual economic-event level.
🔄 Account Unit Settings
🔹 sep_account = ACCOUNT UNIT — Section separator for account-currency/unit handling.
🔹 Select automatic, standard, or cent-account unit handling = ACCOUNT_UNIT_AUTO — Configures the EA to automatically determine the appropriate account-unit handling mode.
🔹 Optional account-currency override, e.g. USD, USC, EUR, GBP, CA = [blank] — No manual account-currency override is specified; the EA therefore uses its automatic account-unit configuration.
🔄 Daily Trade Limit & Loss Cooldown
🔹 sep_entry_safety = DAILY TRADE LIMIT & LOSS COOLDOWN — Section separator for daily entry and loss-protection controls.
🔹 Cap the number of new GoldWave entries per broker day = true — Enables a daily limit on new GoldWave entries.
🔹 Maximum new entries permitted per broker day = Up to three new trades per broker day — Limits the EA to up to 3 new trades per broker day.
🔹 Pause new entries after a realized net losing trade = true — Enables a pause in new entries after a realized net losing trade.
🔹 Entry cooldown after a net losing trade, in broker minutes = 120 — Sets a 120-minute cooldown after a net losing trade before new entries can be considered.
🔄 Prop Firm Risk Protection
🔹 sep_prop = PROP FIRM GATES (For prop firm accounts only) — Section separator for prop-firm-specific risk controls.
🔹 Activate prop-firm protection: risk, daily loss, and max drawdo = false — Prop-firm protection is currently disabled.
🔹 Use ProRiskPct for position sizing while Prop Protection is = true — Enables the use of ProRiskPct for position sizing while the relevant Prop Protection logic is active.
🔹 Target equity risk per trade, 0.10–20.0% is the conserv... = 0.2 — Sets the target equity risk per trade to 0.2%, within the stated 0.10–20.0% range; the description indicates this is the conservative range.
🔹 Daily equity-loss threshold; locks new trading until the next b = 5.0 — Sets the daily equity-loss threshold to 5.0%, after which new trading is locked until the next applicable reset period.
🔹 Maximum drawdown from initial equity; triggers protective close = 20.0 — Sets maximum drawdown from initial equity to 20.0%, at which point the protective-close logic can be triggered when enabled.
🔹 Equity recovery buffer required before automatic unlock = 0.5 — Requires an equity recovery buffer of 0.5 before automatic unlocking can occur.
🔹 Additional cooldown after automatic unlock, in minutes = 120 — Adds an additional 120-minute cooldown after an automatic unlock.
🔹 On lock: true closes all positions, false closes GoldWave posit = false — With the setting at false, the lock behavior is configured not to close all positions; the parameter description indicates the alternative behavior is to close GoldWave positions.
🔄 Weekly Market Close Filter
🔹 sep_friday = WEEKLY MARKET CLOSE FILTER — Section separator for the weekly market-close protection.
🔹 Protect new entries during the broker's weekly close window = true — Enables protection against new entries during the broker's weekly market-close window.
🔹 Block new entries for the final X minutes before weekly close = 300 — Prevents new entries during the final 300 minutes before the broker's weekly close.
🔄 Weekly Market Open Filter
🔹 sep_monday_open = WEEKLY MARKET OPEN FILTER — Section separator for weekly market-open protection.
🔹 Protect new entries during the broker's weekly reopen window = true — Enables protection against new entries during the broker's weekly reopening period.
🔹 Block new entries for X minutes after the weekly market reopen = 60 — Prevents new entries for 60 minutes after the weekly market reopens.
🔄 Night Filter
🔹 sep_night = NIGHT FILTER — Section separator for the overnight/no-entry configuration.
🔹 Enable a server-time no-entry window = false — Disables the server-time no-entry window.
🔹 No-entry window start, server time (HH:MM) = 23:00 — Defines 23:00 as the beginning of the no-entry window if the Night Filter is enabled.
🔹 No-entry window end, server time (HH:MM; may cross midnight) = 01:05 — Defines 01:05 as the end of the no-entry window; the parameter explicitly allows the window to cross midnight.
🔄 Info Panel
🔹 Info Panel = Info Panel — Section heading for the on-chart information panel.
🔹 Display the GoldWave information panel = true — Enables the GoldWave information panel on the MT5 chart.
🔹 Horizontal panel offset, in pixels = 10 — Positions the panel with a horizontal offset of 10 pixels.
🔹 Vertical panel offset, in pixels = 36 — Positions the panel with a vertical offset of 36 pixels.
🔹 Scale the panel for different screen sizes = 1.1 — Sets the panel scaling factor to 1.1, allowing the panel to be displayed at the configured enlarged scale.
🔹 Anchor corner used for panel positioning = Left upper chart corner — Anchors the information panel to the left upper chart corner.
🔹 Display the set-file reminder in the panel footer = true — Displays the configured set-file reminder in the panel footer.
🔢 Conclusion
Goldwave Ultra EA MT5 provides a broad set of controls designed to manage automated trading from multiple angles. Its current configuration uses the LOT_CONSERVATIVE position-sizing profile while maintaining a 0.01 fixed lot, a 10.0-lot maximum, and a 0.01-lot minimum.
Trade protection is configured with both fixed SL and TP at 5000.0 points, while the daily safety framework allows up to three new trades per broker day and imposes a 120-minute cooldown after a net losing trade.
The NEWS FILTER is active, particularly protecting against high-impact economic events, with a 30-minute pre-event and 15-minute post-event protection period. Weekly market-close and market-reopen filters are also enabled at 300 minutes and 60 minutes, respectively.
For prop-firm usage, the dedicated protection module is currently false, despite configured thresholds of 0.2% target equity risk, 5.0% daily equity loss, and 20.0% maximum drawdown. These settings should therefore be reviewed carefully before using the EA under specific prop-firm rules.
The built-in GoldWave panel is enabled and positioned at the Left upper chart corner, with 10 horizontal pixels, 36 vertical pixels, and a 1.1 scale factor.
