Tessera FX
- Experts
- Version: 2.0
- Activations: 5
Tessera FX is a trend-following advisor for gold (XAUUSD).
Tessera FX is an automated advisor for MetaTrader 5 that trades gold in the direction of the long-term trend. The advisor opens a trade only when the price breaks out of the established range in the direction of the main market movement, and it follows the position with a moving stop, allowing profitable trades to develop.
No grid. No Martingale. No averaging. One position at a time, each trade has a strict stop‑loss from the first second.
WORKING PRINCIPLE
Gold is prone to prolonged directional movements. The advisor does not try to predict a reversal and does not trade within a sideways range. It waits for a confirmed price exit from the range in the direction of the long‑term trend and only then enters the market.
- Decisions are made only on closed candlesticks — the signals are not redrawn.
- The working timeframe is H4. The EA uses the H4 data itself, so it can be placed on a chart of any timeframe.
- The initial stop loss is calculated based on the current volatility: in a calm market it is closer, in a volatile market it is further away.
- After entering, the stop loss is pulled up behind the price and only towards profit. There is no fixed take‑profit: the trade is closed when the trend exhausts and the price reverses by a specified amount.
- Only one position is open at a time. The advisor does not open new trades until the current one is closed.
INPUT PARAMETERS
The settings have been reduced to a minimum. The user sees only what really makes sense to change.
- Risk per trade, % of equity — the risk per trade as a percentage of funds. By default, 0.5. The position volume is calculated automatically so that the stop loss is worth about this percentage of the funds. This is the main parameter: it determines both profitability and drawdown. Guideline: 0.5% — conservative, 1% — moderate. Above 2% is not recommended.
- Daily loss limit, % (0 = off) — daily percentage loss limit. By default, it is disabled. When the limit is reached, the open position is closed, and no new trades are opened until the end of the trading day. Useful for prop company accounts.
- Total loss limit, % (0 = off) — the total loss limit from the initial balance in percent. By default, it is disabled. When the limit is reached, the position is closed, and trading stops until manually reset.
- Magic number — the advisor’s trade identifier. Change it if another Expert Advisor with the same number is working on the same symbol. The Expert Advisor does not touch trades with someone else’s number.
- Reset loss counters on start — reset the saved drawdown statistics and loss limits at startup. Use, for example, after the overall limit is triggered, when you are ready to continue trading. After restarting, return the value to false.
BUILT‑IN PROTECTIONS
- A strict stop-loss for each trade from the moment it is opened.
- A pause on new entries near important economic news for the instrument’s currencies (the built-in MetaTrader 5 economic calendar is used).
- Extended spread filter: no entry is made if the spread is abnormally wide.
- Protective pause in case of a deep account drawdown: if the drawdown reaches 20%, new entries are suspended for 5 days.
- Checking the free margin, permissible volume, minimum stop distance, and freeze level before each operation.
- Proper operation during market closure: the advisor does not send orders outside the broker’s working hours.
- Protection against accidentally launching two copies with the same Magic on the same symbol.
- The state (equity peak, limits) is saved and does not reset when the terminal is restarted.
INFORMATION PANEL
The chart displays a compact panel: the trend direction, possible entry levels and the distance to them, the open position and its stop‑loss, the current drawdown, the status of loss limits, the spread, and the reason for the pause if entries are temporarily prohibited.The panel can be dragged with the mouse to a convenient location, and the position is saved.
recommendations
- Instrument: XAUUSD (gold). The broker may use a different suffix for the symbol name — this is not important.
- Chart timeframe: any. The Expert Advisor works on H4 data.
- Account type: hedging or netting, any execution type.
- 24/7 operation: a VPS is recommended for stable operation.
FREQUENTLY ASKED QUESTIONS
Why are there so few trades?
The advisor waits for only high‑quality situations on the higher timeframe. On average, 2–3 trades per month. This is normal for this trading style.
Why are there so many losing trades?
The losing trades are small and limited by a stop‑loss. The result is formed by fewer but larger profitable trades, which the advisor holds while the trend continues.
Does the advisor close positions over the weekend?
No. The position can be held for several days, including weekends, protected by a stop‑loss.
Can it be used on other instruments?
The advisor was developed and tested on gold. Technically, it will run on any symbol, but the results on other instruments have not been tested.
Is it suitable for prop companies?
Yes. Enable daily and total loss limits according to your company's rules and choose a moderate risk per trade.
support
Please send any questions or suggestions via private messages or in the comments section for the product on MQL5.com.
RISK WARNING
Trading in financial markets involves the risk of capital loss. The results of backtesting are not a guarantee of future performance. Use only funds that you can afford to lose, and choose the level of risk for your trades.
