GoldSpire MT5
- Experts
- Version: 2.0
- Updated: 13 October 2026
- Activations: 15
Automated Gold Trading Expert Advisor for MetaTrader 5
GoldSpire MT5 V2 is an automated trading system developed primarily for XAUUSD (Gold). It combines four trading approaches, multi-timeframe market analysis and structured recovery management within a single Expert Advisor.
The system analyzes price action, trend direction and market conditions to identify trading opportunities. Integrated position management, trading filters and configurable risk controls support automated execution and basket management.
Trading Strategy
GoldSpire combines four coordinated entry approaches:
-
Trend Pullbacks: Identifies potential entries during price retracements within an established trend.
-
Price Reclaims: Detects opportunities when price returns to previously broken price areas.
-
Trend Continuations: Identifies potential entries when the prevailing trend resumes.
-
Failed Countertrend Moves: Detects unsuccessful price movements against the broader market direction.
The EA uses M1 entry signals together with higher-timeframe analysis. Additional filters evaluate volatility, market compression, price extensions, failed breakouts and opposing momentum.
Key Features
Trading and Execution
-
Four integrated trading approaches
-
Multi-timeframe trend analysis
-
Automated Buy and Sell execution
-
Market condition and spread filters
-
Configurable trading sessions
-
Broker-specific symbol and execution handling
Recovery and Profit Management
-
Fixed or automatic lot sizing
-
Adjustable Recovery Lot Multiplier
-
Volatility-based recovery spacing
-
Optional recovery entry confirmation
-
Individual and basket-level profit targets
-
Trailing profit protection
-
Trading commission and swap cost consideration
Risk Management
-
EA-specific equity drawdown controls
-
Margin level protection
-
Optional daily and maximum drawdown limits
-
Optional prop firm protection
-
Economic news filtering
-
Scheduled daily and Friday position closing
System and Interface
-
Support for different gold symbol names and contract specifications
-
Standard and cent account handling
-
Restoration of position management after restarts
-
Improved order execution and error handling
-
Customizable Graphite dashboard
-
Optimized processing and backtesting performance
Recommended Use
Platform: MetaTrader 5
Primary Symbol: XAUUSD / Gold
Chart Timeframe: M1 recommended for monitoring. Trading signals use internal timeframes.
Trading Direction: Buy and Sell
Account Type: Hedging preferred. Netting accounts require exclusive management of the trading symbol by the EA.
Broker: Reliable execution, competitive gold spreads and suitable contract specifications.
VPS: Recommended for continuous operation.
Minimum Deposit: Depends on broker conditions, contract size, leverage and selected position sizing. No universal minimum is specified.
Leverage: Broker-dependent. Sufficient free margin is required for the selected position sizes and potential recovery positions.
GoldSpire is developed primarily for Gold. Other instruments require independent testing and validation.
Recommended Settings
The following values describe the standard configuration and provide a starting point for testing.
-
LotSize: 0.01 by default. Adjust according to account capital and broker specifications.
-
UseAutoLot: Disabled by default. Enables balance-based automatic position sizing.
-
RecoveryLotMultiplier: 1.5 by default. Controls the size progression of additional recovery positions.
-
RecoveryStructureFilter: Optional confirmation for recovery entries.
-
NewsFilter: Disabled by default.
-
EaRiskControls: Enabled by default. Individual protection thresholds must be reviewed separately.
-
PropFirmProtection: Disabled by default.
-
ShowDashboard: Disabled by default.
-
UseGoldSpireChartTheme: Optional chart appearance customization.
Default settings do not represent a guaranteed low-risk configuration. Test position sizing, margin requirements and possible drawdown before live trading.
Trading Sessions
GoldSpire includes three selectable trading sessions.
Default session times (UTC):
-
Session 1: 02:00 – 06:30
-
Session 2: 08:00 – 11:00
-
Session 3: 14:30 – 17:00
Broker time and daylight saving adjustments are handled through the EA configuration.
An optional economic news filter can restrict new entries around selected calendar events.
Existing positions continue to be managed outside the configured entry sessions.
Graphite Dashboard
GoldSpire includes a customizable dashboard providing an overview of account information and trading activity.
The dashboard displays account figures, position information, trading statistics and a compact news section.
Available customization options include dashboard size, screen position, trade markers and chart appearance.
The dashboard and chart theme can be enabled independently.
Installation
-
Install GoldSpire MT5 V2 through the MQL5 Market.
-
Open a chart of your broker's Gold symbol.
-
Select the M1 timeframe for convenient monitoring.
-
Attach GoldSpire to the chart.
-
Enable algorithmic trading in MetaTrader 5.
-
Review lot size, recovery settings and broker time configuration.
-
Configure the risk protection settings according to your requirements.
-
Test the EA in the Strategy Tester or on a demo account before live trading.
A stable VPS is recommended for uninterrupted automated operation.
Important Information
GoldSpire uses recovery-based position management. Additional positions may be opened when the market moves against an existing basket.
This approach can increase total exposure, margin requirements and potential drawdown. The EA does not rely on a conventional fixed stop-loss for each initial entry.
Optional drawdown and margin protection mechanisms do not guarantee a fixed maximum loss.
Trading results depend on market conditions, broker execution, spreads, slippage and individual configuration.
The EA should be tested under the intended broker and account conditions before live deployment.
Support
For installation assistance, configuration questions or technical support, please use the MQL5 product comments or the built-in messaging system.
Risk Disclaimer
Trading Gold and other leveraged financial instruments involves financial risk and can result in the loss of trading capital.
Historical testing and previous results do not guarantee future performance.

I've been using it for about 3 weeks (including the trial period offered by the developer) and I appreciate the quality of the inputs and the infrequency of recovery operations (see the comments section). Congratulations on an excellent product (the only thing missing is the addition of a trailing SL, which the developer is already working on)!