Gold Morning Compass
- Experts
- Version: 1.0
- Activations: 5
Gold Morning Compass trades gold against the US dollar (XAUUSD) in MetaTrader 5. Once each weekday morning it checks how far gold has moved from the day’s opening price. Two lines on the chart show why it considers a trade or sits out.
Read the morning signal
Each line sits 30% of the average daily trading range, including gaps, above or below the daily open. The average uses the last 14 completed daily bars (ATR). At the default setting, the EA reads the opening price of the first available one-minute bar from 08:00 broker time.
- At or above the upper line, it considers a buy.
- At or below the lower line, it considers a sell.
- Between the lines, it skips the whole day, even if gold crosses a line later.
Order size and exits
With USD 10,000 in equity (including open profit or loss), the default planned loss at the stop is USD 50 before costs. The EA rounds the order size down and skips the trade if the smallest lot is too large. It waits if the gap between bid and ask is too wide. The entry window lasts 30 minutes.
At most one entry is attempted per day. The order includes a stop 0.75 ATR away and a target twice that distance. If the position is still open at 20:55 broker time, the EA requests an exit on the next tradable quote. Keep MT5 running and connected for this exit. Gaps, slippage and fees can increase the actual loss.
MT5 inputs
- RiskPercent — Default 0.50. Planned loss at the stop as a percentage of equity before costs. Enter a value greater than 0 and up to 5. A setting of 0.50 means 0.5%.
- DecisionHour — Default 8. The hour on your broker’s clock when the EA checks the price. Use a whole number from 0 to 19. With 8, the entry window runs from 08:00 until 08:30.
- MagicNumber — Default 26111203. A positive whole number that identifies this EA’s trades. Keep the default for one instance. Change it only when this EA has no open position.
Try it in the tester
Open the Market demo in the MT5 Strategy Tester. Choose your broker’s XAUUSD, M15 and your intended deposit, then run a visual test. Images 2 and 4 trace a buy that met the entry rule but later hit its stop. Image 7 shows how long the month-end balance took to recover.
Historical results and time below a previous high
Both MT5 simulations used one broker, XAUUSD, USD 25,000 starting capital and the default inputs. The March 2017 to October 2026 test used one-minute OHLC modelling. It closed 843 trades with a net profit of USD 10,160.59 and a maximum relative equity drawdown of 6.40%. Month-end balance fell in 41 of 116 months. The longest interval between new month-end balance highs was 22 months.
A separate February 2023 to October 2026 test in real-tick mode closed 353 trades with a net profit of USD 3,352.75 and a maximum relative equity drawdown of 4.35%. MT5 generated ticks where data was missing or inconsistent. The periods overlap. Live results depend on prices, costs and execution at your broker.
