Gold Excel

Welcome to GoldExcel EA, an effective trader for the XAUUSD pair (GOLD). Developed by our team to work in normal accounts, funded prop accounts and prop challenges! Does not use HFT!

***IMPORTANT ANNOUNCEMENT DST TIME CHANGES - USERS PLEASE READ****:  https://www.mql5.com/en/market/product/111410?source=Site#!tab=comments&page=2

***Next price rise 17th March 2024***

GoldExcel system uses orders on a twice per day basis using only the Gold Pair. The gold pair is perfect for this type of trading due to its high daily range, volatility and movement correlation with stock market opens. Gold has superior global liquidity so fills and execution are typically excellent. 

GoldExcel is a classic example of a system that uses price action and time based trading to extract an excellent edge proven historically over long range testing. Furthermore, our live forward trading results are a direct match to historical backtesting ensuring clients have faith in the system moving forward. GoldExcel is highly simple yet effective by using the market opens as a catalyst to detect an early move in the Gold pair at the start of the US trading session. Using a hard stop loss of $5 movement in Gold, both trades are protected each day. GoldExcel will continue to run for long term due to the natural market logic of time based price action trading.

Gold Excel has 2 sets of orders per day, which are normally filled, but only 1 trade open at one time, uses no additional layering techniques or adding multiple trades on top of losses. In this way, its very easy for user to predetermine the downside risk of each trade before it closes.

GoldExcel uses a recovery function of 3.0 that will increase the lot next day if the prior day was loss. Client has choice to use recovery or not, as the system is very stable by using non recovery also (backtest in comments section) it is personal choice. But with a historical win rate of 85%+, the odds favour to use recovery to increase performance. Client can backtest on same lot by removing recovery function by making<lot increase after loss> input = 1.0

GoldExcel is advantageous to both prop users and standard traders. The GoldExcel can pass challenges promptly and also continue to trade on the funded account. GoldExcel is not an HFT bot, nor will it break the excess volume of trades rules, so will work in any prop firm (assuming a regular XAU spread offering). Effectively, its a full circle solution for all traders. For smaller traders, it can work in account from $50 upwards. As the system does not trade until US Markets open, all major news has passed, therefore avoiding any news releases.

Strategy Summary:

• Currency pair: XAUUSD (GOLD)
• Minimum deposit : $50
• Timeframe: 5 Minutes
• Broker Offering : Any decent broker with gold spread around or under 10-15 cents. (IC/Fusion/VT/Axi//Pepperstone/Tickmill/Vantage/Tradeview etc)
• Account type: Low Spread with Commission. (RAW/RAZOR/ECN)
• Broker Selection : IC Markets, Pepperstone with Raw and Razor accounts for lowest spreads
• IMPORTANT: A lower gold spread will excel over a high spread, i have seen upwards of 80 cents spread in some poorer brokers. Target 10 cents.(e.g IC is regularly 5 cents)
• Account type: Hedge or netting, FIFO also works.

Backtesting in MT5 is better for all traders as the modelling gives 99% with much greater amount of data stored than MT4 servers has. Even you intend to use MT4 for trading, we would advise MT5 for backesting, and both versions of the EA work same way in real accounts. Please use setfile provided in comments for MT4 backtesting.