Overlap King Gold

Overlap King Gold

Automated Trading and Recovery Management for MetaTrader 5

Overlap King Gold is a MetaTrader 5 Expert Advisor designed for traders who want an automated framework for managing entries, position expansion, recovery conditions, hedging and basket-level trade management on Gold and other supported instruments.

The EA combines an initial signal-based entry system with configurable grid and position-sizing logic. Once positions are active, the EA continuously evaluates the current exposure and applies the configured recovery, basket, hedge and account-protection rules.

The system is designed with multiple independent management layers so that trading activity, position exposure and account-level controls can be monitored from a single chart.

Core Trading Logic

The EA evaluates its entry conditions before opening a new directional position.

For a new BUY setup, the internal signal conditions must meet the configured entry requirements. SELL positions are opened through the corresponding opposite conditions.

After an initial position has been opened, the EA can add additional positions when the configured distance condition is reached.

This allows the trader to control how additional positions are distributed through the market instead of opening additional trades without a defined distance parameter.

Grid and Position Management

Overlap King Gold includes configurable position expansion settings.

Key parameters include:

Start Lots
Martingale Multiplier
Grid Distance
Maximum Martingale Steps
Basket TP
Maximum Basket Steps

The lot calculation can increase the next position according to the configured multiplier, while broker volume restrictions are taken into account through automatic lot normalization.

The maximum number of directional positions can also be limited through the dedicated martingale-step setting.

Overlap Recovery System

One of the main components of Overlap King Gold is its Overlap Recovery System.

When the configured minimum number of positions is reached, the EA evaluates the currently profitable and losing positions and calculates a recovery level based on their respective profit, loss and volume characteristics.

The EA can then calculate a Zero Level and an Overlap Close level and display these levels directly on the MetaTrader 5 chart.

When the configured recovery target is reached, the corresponding winning and losing positions can be closed together according to the recovery logic.

This provides a structured way of handling overlapping positions instead of managing every position independently.

Automatic Hedge Management

The EA contains an automatic hedge management layer.

When the number of positions in one direction reaches the configured hedge threshold, the EA evaluates the net exposure between BUY and SELL positions.

If the net exposure requires protection, the EA can open an opposite-direction hedge using the configured Hedge Volume Factor.

This functionality is intended for managing increasing directional exposure and can be adjusted according to the trader's account and risk-management approach.

Individual BUY and SELL Profit/Loss Controls

BUY and SELL positions can be managed independently.

The EA provides separate settings for:

BUY Profit Target
BUY Loss Limit
SELL Profit Target
SELL Loss Limit

When the configured condition is reached, the corresponding group of positions can be closed automatically.

This gives traders additional control over directional exposure when both sides of the market are being managed.

Basket Management

The EA supports basket-level management based on the combined position structure.

The Basket TP option can be enabled to close the basket according to the calculated basket condition. The EA also calculates position-weighted pricing for active positions when managing collective trade levels.

This is useful for traders who prefer to evaluate a group of positions as a single trading structure.

Daily Trading Target

Overlap King Gold includes a configurable Daily Profit Aim.

The EA calculates the closed profit for the current trading day and compares it with the configured daily target.

When the target condition is reached, the EA can pause new trading activity for the remainder of the day. A chart popup can also notify the user that the configured daily target has been reached.

The dashboard also displays the current daily PnL and target status.

Drawdown Protection

Account-level protection is included through the Maximum Drawdown Percent parameter.

The EA continuously compares account balance and equity. If the configured drawdown threshold is reached, the EA initiates the configured position-closing procedure.

This feature is intended to provide an additional layer of account protection during unfavorable market conditions.

Live On-Chart Dashboard

The EA includes an integrated monitoring dashboard directly on the MetaTrader 5 chart.

The dashboard can display:

Balance
Equity
Today Closed PnL
Daily Target
BUY Position Count
BUY PnL
BUY Target and Loss Settings
SELL Position Count
SELL PnL
SELL Target and Loss Settings
Total Floating PnL
Trading Status

The dashboard also provides a reset control for the displayed daily target tracking.

Overlap Levels on the Chart

During an active overlap-recovery condition, the EA can display two important reference levels:

Zero Level

Overlap Close

These levels are dynamically calculated according to the active winning and losing positions and are removed when the overlap condition is no longer active.

This makes the recovery structure easier to understand directly from the trading chart.

Risk and Position Controls

The EA provides several configurable controls for managing exposure:

Start lot size
Lot multiplier
Grid distance
Maximum directional positions
Maximum martingale steps
Hedge threshold
Hedge volume factor
BUY profit/loss controls
SELL profit/loss controls
Basket management
Daily target
Maximum drawdown

The EA also checks available margin before attempting to open a new position and normalizes trade volume according to the broker's permitted volume range and step.

Trade Identification

A configurable Magic Number is used to identify the EA's positions.

An optional trade comment can also be added to orders, making it easier to distinguish EA-managed positions from other trades on the account.

Designed for Gold Trading

Overlap King Gold is particularly suitable for traders who want to apply its position-management framework to XAUUSD and other instruments supported by their MetaTrader 5 broker.

Because Gold can experience rapid price movements and changing market conditions, appropriate lot sizing, grid distance, maximum position limits and drawdown settings should be selected according to the individual trading account.

Important Risk Information

Overlap King Gold is an automated trading software and does not guarantee profits or prevent losses.

Grid, martingale and hedge-based position management can increase market exposure and may result in substantial losses during prolonged or strongly directional market movements.

Trading parameters should be tested in the MetaTrader 5 Strategy Tester and evaluated under the broker, symbol, timeframe and account conditions in which the EA is intended to operate.

Past testing or previous trading performance should not be interpreted as a guarantee of future results.

Users should understand the EA's settings and risks before using it on a live trading account.

(You can view my seller profile on MQL5 for more trading tools and utilities).