Gold Eater
- Experts
- Version: 1.0
- Activations: 10
GoldEater trades the classic 1-2-3 reversal pattern on gold (XAUUSD), and only in the direction of the higher-timeframe trend.
HOW IT TRADES
- Finds a 1-2-3 pattern from confirmed swing points on closed H1 bars (no repainting).
- Places a stop order at the breakout of point 2, with the stop loss just beyond point 3.
- Cancels the setup if point 1 is broken or the breakout does not happen within 40 bars.
- Trend filter: buys only when the last closed H4 bar is above a rising 200 EMA, sells only below a falling one.
RISK MANAGEMENT
- Every trade has a stop loss from the moment it is placed.
- Position size is calculated from the stop distance, so each trade risks a fixed % of equity (default 1%).
- Profit-lock ladder: stop to break-even at +1R, lock 50% of peak profit at +2R, 75% at +4R.
- Account safety stop: closes everything and pauses the EA if equity falls 25% from its peak.
- Maximum open positions/orders limit, spread filter, survives terminal restarts.
No martingale. No grid. No averaging down. One position per direction.
BACKTEST SUMMARY
MT5 Strategy Tester, IC Markets XAUUSD H1, 1-minute OHLC, 1 Jan 2019 - 16 Oct 2026, $10,000 start, 1% risk, commission included, no slippage:
- Profit factor 1.47
- 741 trades (about 2 per week)
- Net +$26,128 (17.9% compound per year)
- Maximum relative drawdown 19.2%
- 7 of 8 calendar years positive (2021: -5.4%)
- Longest losing streak: 14 trades
Neighbouring trend-filter settings all tested between profit factor 1.40 and 1.51, so the result does not depend on one exact parameter.
PLEASE READ BEFORE BUYING
- These are backtest results, not live results. No live or forward-test track record is provided. Slippage is not included, and live results are usually weaker than backtests.
- The test period was a strong gold bull market; long trades produced most of the profit.
- The strategy has flat and losing periods lasting several months, and losing streaks of 14+ trades. It is not suitable for anyone who needs steady monthly income.
- Designed for XAUUSD only. It was tested on major currency pairs and silver and was not profitable there.
- Always run it on a demo account first.
RECOMMENDED SETUP
- Symbol: XAUUSD. Timeframe: H1.
- Account: hedging account (not netting), low-spread / raw-spread ECN recommended.
- Recommended balance: $5,000+ for true 1% risk. At current gold prices a 0.01-lot trade typically risks $15-45, so on smaller accounts the EA trades the minimum lot only when that risks 3% or less (adjustable, or switch it off); otherwise it skips the trade.
- VPS strongly recommended: the EA must be running to manage open trades.
- Keep the default inputs: they are the tested settings. No set file is needed.
Message me through MQL5 for the full user guide.
Trading on margin carries a high risk of loss. This software is not financial advice. Past or backtested performance does not guarantee future results.
