GoldLab Supertrend Rider
- Experts
- Version: 1.0
- Activations: 5
Supertrend trend-following EA: closed-bar flip with higher-timeframe agreement, partial close at 1R, stop trailed on the Supertrend line.
GoldLab Supertrend Rider is a fully automated Expert Advisor for MetaTrader 5. It is designed for XAUUSD (gold) and also runs on other symbols such as EURUSD.
How it trades
- Supertrend calculated in code - the classic ATR-based Supertrend (default ATR 10, multiplier 3) is computed inside the EA on closed bars; no external indicator files are needed.
- Entry on a flip - when the Supertrend flips direction on a closed bar, the EA enters in the new direction only if the higher-timeframe Supertrend (default H4) points the same way.
- Alignment entry (optional) - if the higher timeframe turns to agree with an already established signal-timeframe trend, the EA can also enter then.
- Stop-loss just beyond the Supertrend line (kept between a minimum and maximum ATR distance). Optional fixed take-profit (default none - the trend is ridden).
- Partial close at 1R (optional, default 50%) and the stop moves to break-even.
- Trailing - on every new bar the stop follows the Supertrend line, and the trade is closed when the Supertrend flips against it.
Risk management (built in)
- Every trade is opened with a stop-loss. There is no martingale, no grid and no averaging down.
- Position size from risk % of balance (default 1%) or a fixed lot; lots are normalised to the broker's min / max / step and reduced if free margin is not enough.
- Daily loss limit: no new trades for the rest of the day once equity is down the set % from the day-start balance.
- Max spread filter, optional trading-hours filter, and no orders while the market is closed or trading on the symbol is disabled.
- Stop-loss / take-profit are always placed outside the broker's stops and freeze levels.
- Works on hedging and netting accounts (on netting accounts it opens only when the symbol has no position).
Inputs
| Input | Default | Description |
|---|---|---|
| Signal timeframe | Current | Timeframe of the main Supertrend |
| Supertrend ATR period / multiplier | 10 / 3.0 | Main Supertrend settings |
| Calculation bars | 300 | History used for the calculation |
| Use HTF filter / Higher timeframe | true / H4 | Require higher-timeframe agreement |
| HTF ATR period / multiplier | 10 / 3.0 | Higher-timeframe Supertrend settings |
| Enter when HTF aligns | true | Also enter when the HTF turns to agree |
| Stop buffer (x ATR) | 0.1 | Distance beyond the Supertrend line |
| Min / Max stop (x ATR) | 0.5 / 4.0 | Stop distance limits |
| Take-profit (R) | 0.0 | 0 = no fixed target |
| Partial close / trigger (R) / size (%) | true / 1.0 / 50 | Partial profit and break-even |
| Trail on Supertrend | true | Stop follows the Supertrend line |
| Exit on opposite flip | true | Close when the Supertrend flips against the trade |
| Risk per trade (%) | 1.0 | Risk as % of balance, used when Fixed lot = 0 |
| Fixed lot | 0.0 | Fixed lot size (0 = use Risk %) |
| Maximum lot | 10.0 | Upper cap per trade |
| Use minimum lot if risk lot is too small | true | On small accounts trade the broker minimum instead of skipping |
| Magic number | 20271005 | Change it to run several copies on one account |
| Daily loss limit (%) | 3.0 | Stop opening trades for the day at this loss (0 = off) |
| Max spread (points) | 60 | 2-digit gold / 4-digit FX scale (100 = 1.00 USD on gold); 0 = off |
| Restrict to trading hours | false | Optional start / end hour (server time) for new entries |
| Max slippage (points) | 30 | Same scale as spread |
| Show info panel | false | Optional status panel on the chart |
Recommended
- Symbol / timeframe: XAUUSD H1 with H4 filter (designed for gold); also FX majors. Use a higher timeframe above the chart timeframe (e.g. M15 + H1, H1 + H4).
- Account: any (hedging or netting), any deposit that allows the broker's minimum lot with a sensible risk %.
- VPS: recommended for uninterrupted operation.
Important notes
- No trading system can guarantee profit. Past performance, in the tester or live, does not guarantee future results.
- Always test the EA in the MetaTrader 5 Strategy Tester and then on a demo account before using real money, with your broker's own data and spread.
- Session hours are in your broker's server time - check your broker's time zone and adjust the hour inputs if needed.
- Start with a low risk % and use money you can afford to lose.
