Honorable Gold
- Experts
- Version: 1.0
- Activations: 5
Honorable Gold EA - Automated Breakout and Swing Trading
Honorable Gold EA is a fully automated Expert Advisor for MetaTrader 5. It is built around price structure breakout entries combined with multi-layer trade management. The Expert Advisor identifies the most recent confirmed swing high and swing low, places pending stop orders at those levels, and manages each trade through to its exit without requiring manual input.
Rather than relying on indicators, the Expert Advisor uses price structure alone to determine entries. Lot size is calculated on every trade from account balance and the actual stop loss distance, so the amount risked per trade stays proportional regardless of market conditions or instrument price level.
How It Works
Swing Detection and Entry
On every new bar the Expert Advisor scans the last 200 bars for the most recently confirmed swing high and swing low. A swing point is considered valid when it is the highest or lowest bar within a configurable number of bars on either side. A pending buy stop or sell stop order is then placed at the detected level.
Directional Bias Filter
The Expert Advisor compares which swing is more recent. If the latest swing was a high, only buy orders are placed. If it was a low, only sell orders are placed. This rule is designed to reduce entries that go against the most recent structural move.
Trade Management
Once a position is open, three independent layers run on every price update:
- Breakeven Stop — when price reaches a set percentage of the take profit distance, the stop loss is moved to the entry price. This is intended to reduce the risk of the trade closing at a loss, though in fast-moving markets slippage may mean the stop fills at a different level.
- Trailing Stop — after price has moved a configurable distance toward the take profit level, the stop loss follows price at a fixed distance, aiming to preserve open profit as the move continues.
- Order Expiry — pending orders that have not been triggered after a set number of bars are cancelled automatically.
Risk Management Features
- Dynamic Lot Sizing — lot size is recalculated on every entry using current account balance and stop loss distance. The percentage of balance at risk per trade remains fixed.
- News Filter — reads the MetaTrader 5 built-in economic calendar. The Expert Advisor stops placing new orders before selected high-impact events and resumes after a configurable waiting period. No third-party data source is required.
- Daily Loss Limit — if losses during a session exceed a set percentage of the day's opening balance, the Expert Advisor stops placing new orders until the following day.
- Trading Hours — entries are restricted to a configurable server-time window. All pending orders are cancelled outside those hours.
On-Chart Dashboard
An on-chart panel displays live account information and provides direct control over the main features without opening the settings tab.
Main Controls
- Stop / Start — cancels all pending orders and halts new entries, or resumes trading.
- Pause / Resume — suspends new entries while leaving open positions running.
- Close All and Stop — closes all open positions and pending orders immediately.
Feature Switches
The following features can be turned on or off directly from the panel without restarting the Expert Advisor:
- Trailing Stop
- Breakout Orders
- News Filter
