Sigma7 Gold Scalper
- Experts
- Version: 1.0
- Activations: 10
A gold (XAUUSD) scalper on resting stop orders at recent swing levels. Every order carries a hard stop and a take profit from the moment it is placed, and a tight trailing stop manages each filled trade. No grid, no martingale, no averaging. Fully self-contained: it needs no external indicator and no outside connection.
What it does
Sigma7 Gold Scalper reads the recent highs and lows of the hourly gold chart. At fixed hours of the day it picks a level well above the current price for a buy stop and a level well below it for a sell stop, and rests one order on each side. An order that is not reached within a set number of days is removed. Orders are placed only at the decision hours, so the EA does not chase price between them.
Every order is placed with a hard stop and a take profit. Once a trade is in profit, a trailing stop follows the best price reached and closes the trade when price turns. The trailing stop does most of the work: most trades are short.
Each order is sized from the account balance in fixed steps. There is no grid, no martingale and no averaging.
How to use it
- Symbol: XAUUSD (gold). The EA also runs on other symbols, where every distance becomes the same fraction of price, but it is designed and tested on gold only.
- Chart timeframe: any. The levels are read from the H1 chart whatever the chart timeframe.
- Account: a hedging account is recommended, so a long and a short can be held at once. On a netting account the two sides merge into one position.
- Run one chart per account. The EA refuses to start next to another copy of itself in the same terminal.
- Keep the terminal running on trading days, ideally on a VPS. Resting orders and positions are read back from the account after a restart, so a restart does not lose or duplicate a trade.
- Test it in the Strategy Tester on XAUUSD first, and run it on a demo account before a live one.
Inputs
Brackets
- Stop loss (pips), Take profit (pips): the hard stop and the target on every order. One pip is 0.01 USD of the gold price.
- Trailing stop (pips): the distance the stop follows behind the best price.
- Trail outside spread: when on, the trailing distance is never smaller than the current spread.
- Reduce trail distance: a tighter trail on brokers with a small stops level. Off by default.
- ATR trail period, ATR trail multiplier, ATR trail timeframe: when the period is above zero, the trailing distance is the multiplier times the ATR of that timeframe instead of the fixed pips.
Levels
- Hours between decisions: how often new orders may be placed. Must divide 24.
- Min level distance (pips): a level closer to the price than this is not used.
- Sell level gap (pips): sell levels closer together than this are thinned to one.
- Pending order life (days): an order not reached within this time is removed.
Lot size
- Lot sizing mode: fixed lots, a percentage of free margin, or one 0.01 lot per a number of dollars of balance (the default).
- Fixed lots: the volume in fixed mode.
- Free margin used (%), Free margin cap (%): the margin share in the free-margin mode.
- USD per 0.01 lot: in the balance mode, every this many dollars of balance adds 0.01 lot. Default 50.
- Max lots per order: a ceiling on every order, in all modes.
Protection
- Skip wide-spread decisions: when on, no order is placed while the spread is wider than the trailing distance.
- Cancel orders on Friday, Friday cancel hour: remove resting orders from this hour on Friday (server time).
- Cancel orders on removal: remove resting orders when the EA is taken off the chart.
- Cancel orders around news, Minutes before news, Minutes after news: remove resting orders around high-impact calendar events for the symbol's currencies. Open positions are not touched.
Execution
- Magic number: the id the EA uses to recognise its own orders.
- Show chart panel: a status panel on the chart with the account, spread, orders and closed results.
What it does not do
It does not use a grid, martingale or averaging. It does not open market orders. It does not connect to anything outside the terminal. It places no order outside the symbol's own trading sessions.
Results depend on the broker's spread, commission and execution. Results in the Strategy Tester or on a signal do not guarantee future results.
Live monitoring
