Grid10 Gold Scalper
■■■Short description■■■
Gold (XAUUSD) scalper that buys pullbacks in the direction of the long-term trend, adds a small averaging grid and closes the whole basket at a fixed profit from its average price.
■■■Description■■■
Grid10 Gold Scalper is an Expert Advisor made only for GOLD / XAUUSD.
It runs two independent units inside one EA — an M5 unit and an M15 unit — and works the same on any chart timeframe. Attach it to one GOLD chart and it is ready to trade.
■■■How it trades■■■
Direction: follows the long-term trend of gold. When the trend is up it only buys; when it is down it only sells.
Entry: waits for a pullback inside that trend and enters on a confirmed setup.
Grid: if price moves against the first order, it adds orders at a distance that adapts to current volatility (maximum 10 orders per basket).
Exit: the whole basket is closed together at a fixed take profit measured from the basket's average price. Once the basket can no longer add orders, a protective stop is placed two grid steps beyond the last order. This happens when the basket has 10 orders, when the daily entry limit is reached, or when the next order cannot be opened because of free margin or the symbol's volume limit.
Limits: a maximum number of entries per day and a maximum spread for new orders.
■■■Account protection■■■
Margin check: before every order the EA checks free margin, the symbol's volume limits and the trading session. Orders that cannot be filled are not sent.
Lot limit: with balance-based lots, the lot is reduced so that full baskets in both units would use at most 60% of equity as margin. It is never reduced below the symbol's minimum lot. On accounts with high leverage this limit is normally not reached.
Margin level protection: if the margin level falls below 150%, the EA closes its baskets itself before the broker's stop out level is reached.
■■■Inputs■■■
Input | Default | Meaning
Trading mode | M5 + M15 | Run both units, or only one of them
Balance per 0.01 lot | 1000 | Lot size grows with the balance: 0.01 lot for every 1000 of balance. Accounts below this value trade the minimum lot. The lot limit above can make the lot smaller
Fixed lot | 0 | Use a fixed lot instead (0 = balance-based). The lot limit is not applied to a fixed lot
Take profit | 180 | Points from the basket average price
Max entries per day | 10 | Grid orders are included
Max spread | 60 | Points. New orders are skipped above this spread
Close all at floating loss % | 0 | Closes every basket when the floating loss reaches this % of the balance (0 = off)
Magic number | 51800 | The M15 unit uses magic + 1
Language | English | English or Japanese (panel and log messages)
Show panel / Panel size / Panel position | on / 1.0 / top left | Information panel on the chart
■■■Panel■■■
Profit since start, floating profit, closed baskets and win rate, profit curve
Status of each unit (direction, positions, average price, take profit, next grid level)
Five color themes, dark / light, and the option to apply the theme to the chart. The panel stays on the chart after a visual backtest ends.
■■■Recommendations■■■
Symbol: GOLD / XAUUSD only
Account: hedging recommended. On a netting account all orders of a symbol are merged into one position, so only the M5 unit runs.
Leverage: 1:200 or higher recommended. With lower leverage the lot limit and the margin level protection work more often, and results differ from the backtest.
Minimum balance: 1000 (USD) for 0.01 lot with the default settings
Run on a VPS so the EA works 24 hours a day
■■■Risk warning■■■
This EA uses an averaging grid. Several orders can be open at the same time in the same direction, and a strong move against the basket can produce a large loss before the protective stop, the floating loss limit or the margin level protection closes it. Price gaps can close positions at worse prices than these levels. Use money you can afford to lose and test on a demo account first.
