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PZ Goldfinch Scalper EA MT5

This is the latest iteration of my famous scalper, Goldfinch EA, published for the first time almost a decade ago. It scalps the market on sudden volatility expansions that take place in short periods of time: it assumes and tries to capitalize of inertia in price movement after a sudden price acceleration. This new version has been simplified to allow the trader use the optimization feature of the tester easily to find the best trading parameters. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]

  • Simple input parameters for easier optimization
  • Customisable trade management settings
  • Trading session selection
  • Weekday selection
  • Money management


Beware...

Tick scalpers are dangerous because many factors can ruin the payoff. Variable spreads and slippage decrease the mathematical expectancy of the trade, a low tick density from the broker can cause phantom trades, the stop level undermines your ability to secure profits and network lag means requotes. Caution is advised.

Backtesting

  • The Expert Advisor uses tick data only. Please backtest in "every tick" mode.
  • It does not use HLOC (high - low - open - close) data at all
  • The timeframe of trading is irrelevant
For better performance, run a cloud optimization for each symbol you want to trade in every tick mode. Share later!


Input Parameters

  • Trigger: Price movement needed to fire a trade, in pips. (default = 10)
  • Min Time Window: Minimum time for the price movement to happen. (default = 3)
  • Max Time Window: Maximum time for the price movement to happen. (default = 10)
The above inputs handle trades. They literally mean "trade if the market moves 10 pips in less than 10 seconds, but not in less than 3 seconds."
  • Breakeven: Pips in profit to perform the break-even. Zero means  disabled.
  • Breakeven Behavior: Choose either
    a) Move the SL to open price or
    b) Secure half the profits of the trade
  • Trailing Stop: Trailing stop for trades expressed in % of the trade profit at the time
  • Trailing Step: Minimum increment in the stop-loss order.
  • Stop Loss: Stop-loss in pips, must have value.
  • Take Profit: Take-profit in pips. Zero means disabled.
  • Session Settings: Enable/Disable trading on asian / america / europe sessions
  • Weekday Settings: Enable/Disable trading on weekdays
  • Money Management Behavior: Choose either
    a) Auto-calculate lotsize for each trade or
    b) Trade a manual lotsize on each trade
  • Risk Per trade: Risk per trade expressed as % of the account balance
  • Manual Lot Size: Manual lot for the trades
  • NFA/FIFO Compliant: Enable to trade this EA on US Brokers
  • Custom Comment: Custom order comment for the trades
  • Magic Number: Number used by the EA to sign and recognize its trades
  • Slippage: Maximum deviation in filling prices, in points.
  • Manual Pip Value: Override the value of a pip for this symbol, if needed

Support

I am happy to provide free products but given my limited time, they come without support of any kind. My apologies.

Author

Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.
Reviews 23
Eliezer Martins Gomes
17
Eliezer Martins Gomes 2020.09.06 20:20 
 

Related to MT5 PZ Goldfinch EA: 1) Inputs Min Time Window and Max Time Windows are inverted in the input parameters. The Chart shows Max Time Window 2 times and does not show Min Time Window. 2) In the backtests the results are excellent with "Every Tick", but really bad with "Every tick based on real ticks". Is there a reason for this? 3) Do you have some sets of input parameters that showed good results over the time in forward tests with real money accounts?

Vladimir Shumikhin
1068
Vladimir Shumikhin 2020.04.05 22:13 
 

Хороший советник покупает дешего и продает дорого

Ahmed Sarıkaya
1437
Ahmed Sarıkaya 2019.09.09 14:14 
 

İt is working profitable. Thanks.

Recommended products
Filter:
Eliezer Martins Gomes
17
Eliezer Martins Gomes 2020.09.06 20:20 
 

Related to MT5 PZ Goldfinch EA: 1) Inputs Min Time Window and Max Time Windows are inverted in the input parameters. The Chart shows Max Time Window 2 times and does not show Min Time Window. 2) In the backtests the results are excellent with "Every Tick", but really bad with "Every tick based on real ticks". Is there a reason for this? 3) Do you have some sets of input parameters that showed good results over the time in forward tests with real money accounts?

Vladimir Shumikhin
1068
Vladimir Shumikhin 2020.04.05 22:13 
 

Хороший советник покупает дешего и продает дорого

Oliver Werner Graf
130
Oliver Werner Graf 2019.09.25 16:24 
 

I'm testing various EAs, also this one as it seemed to get a good response.

Do NOT use this on your live accounts. This is a fair warning. I had ~40% wins and ~60% losses +/- 1% on these results trading on my demo testing account. Sadly, what made it even worse was the fact that these losses by far surpassed the win amount. Approximately W:L ratio 1:5,87.

I used the EA on the default setting.

Please note: These are my findings and they do not necessarily reflect your findings. I have no personal gains from leaving a review.

All the best in your trading endeavors, may it be manual, automatic or both!

Ahmed Sarıkaya
1437
Ahmed Sarıkaya 2019.09.09 14:14 
 

İt is working profitable. Thanks.

Pavel Malyshko
3536
Pavel Malyshko 2019.04.05 23:16 
 

User didn't leave any comment to the rating

Boris Bond
46
Boris Bond 2018.02.17 15:50   

На реальном счете сливает, убытки измеряются долларами, а прибыл 0 или несколько центов!

Rudolf De Heer
177
Rudolf De Heer 2016.09.12 12:09   

Thank you for this free E.A.

Is dll calling mandatory for the Goldfinch E.A.? MQL5 VPS doesn't allow DLL calls.

Rodrigo da Silva Boa
7196
Rodrigo da Silva Boa 2015.11.19 06:35 
 

Funcionava bem no passado...

Ghostfather
117
Ghostfather 2015.06.16 14:04 
 

Very nice work.

Can you insert a new function, that could help to increase the performance.

Maximum Position Duration Time.

I testet it with a self created script acting like a "Scalp Wrapper".

If a position is open longer than the duration time, the position will be closed with loss/profit.

According to different parameters of the TradeSignal, the duration time of position becomes a higher interest.

reforef
55
reforef 2015.02.12 20:28   

для mt 4 что то нету ссылки для скачивания . а так отличный тестовик

[Deleted] 2014.05.15 07:44   

User didn't leave any comment to the rating

Stefano Giacone
231
Stefano Giacone 2014.04.24 12:46 
 

I tried it for several months on demo, with different settings and risk but it never gains. I'm so sad to say that, this is one of the many EAs that work only in strategy tester (but this is normal for a scalper system, remember: a scalper can't be tested on strategy tester, test it always in live)

Andrey Tsygankov
1615
Andrey Tsygankov 2014.04.05 03:08   

Не работает, не совершает сделки, подскажите почему?

Antonio Nicodemo
305
Antonio Nicodemo 2014.04.01 16:21 
 

I tried this EA in real (of course with a 1% risk)

The results are worse than the backtest, small profits and big losses

I tried to optimize and modify the parameters but the result no changes

sin

[Deleted] 2014.03.01 21:41   

User didn't leave any comment to the rating

Vadim Strelkov
7828
Vadim Strelkov 2014.02.12 09:38 
 

+

Johannes Hermann
9011
Johannes Hermann 2014.02.01 14:42 
 

not working...

INC GLOBALIST
124
Sergiu Colitov 2013.12.29 14:10 
 

not working .. stu system ...

Nauris Mucenieks
749
Nauris Mucenieks 2013.12.19 16:41 
 

In my honest opinion - a VERY fine piece of work.

Congratulations, I'll be looking forward for more interesting EA's!

Achmad Hidayat
10822
Achmad Hidayat 2013.11.10 14:45 
 

User didn't leave any comment to the rating

travolta741
315
travolta741 2013.11.10 05:27 
 

User didn't leave any comment to the rating

Christian Beckmann
1221
Christian Beckmann 2013.11.04 19:53 
 

User didn't leave any comment to the rating

Trentano
12
Trentano 2013.11.02 12:16 
 

User didn't leave any comment to the rating

Version 7.4 2019.08.19
- Simplified logic and inputs
- Bug fix in order fillings
Version 1.2 2013.11.12
- Bug Fixes
- Customizable Order Comments
- Information displayed on the chart
Version 1.1 2013.11.01
Bug fixed regarding the initial stop-loss level.