Gold Prop Firm Challenge EA
- Experts
- Wilfred Lau Sin Choon
- Version: 1.0
- Activations: 5
Overview
This EA is a powerful Expert Advisor optimized for trading XAUUSD (Gold) on the M1 timeframe, specifically designed to help traders pass proprietary trading firm (prop firm) challenges. It combines a robust Triple Exponential Moving Average (EMA) crossover strategy with a sophisticated news filter to avoid high-volatility events, ensuring disciplined and consistent trading. With strict risk management, customizable trading rules, and a clear display panel, this EA is tailored for traders aiming to meet prop firm requirements, such as low drawdown, daily loss limits, and maximum trade restrictions, while pursuing consistent profitability.
Trading Strategy
The EA employs a Triple EMA crossover system:
- Buy Signal: Short EMA (default 54) crosses above Medium EMA (default 192), with Medium EMA above Long EMA (default 61).
- Sell Signal: Short EMA crosses below Medium EMA, with Medium EMA below Long EMA.
Trades use a fixed lot size (default 2.0), with stop-loss ($2000) and take-profit ($4000) in USD, dynamically calculated based on tick value to ensure precise risk control. The EA enforces a single open trade at a time and a maximum of one trade per day, aligning with prop firm rules on trade frequency and risk exposure.
Prop Firm Optimized Features
- Strict Risk Management:
- Daily P/L Limits: Stops trading at $2000 daily loss or $4000 daily profit to prevent breaching prop firm drawdown limits.
- Equity Protection: Halts trading if equity exceeds $110,000 or falls below $90,000, ensuring compliance with maximum and minimum balance rules.
- Max Trades Per Day: Limits to one trade per day (default) to meet prop firm restrictions on overtrading.
- Spread Control: Only trades when spread is below 40 points (configurable), critical for maintaining profitability in prop firm accounts with tight performance targets.
- Trading Sessions: Supports Asian (01:00–22:00), London (08:00–22:00), New York (13:00–22:00), or All Sessions (server time), allowing alignment with prop firm trading window requirements.
- No Overnight Option: Closes positions at 22:00 and pauses trading until 02:00, reducing overnight risk exposure, a common prop firm requirement.
- Customizable Parameters: Adjust EMA periods, lot size, SL/TP, news pause windows, and more to tailor risk and performance to specific prop firm rules (e.g., FTMO, MyForexFunds).
Input Parameters
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Trade Parameters
- Lot Size: Trade size (default: 2.0).
- SL Amount: Stop-loss in USD (default: $2000).
- TP Amount: Take-profit in USD (default: $4000).
-
Equity and P/L Limits
- Max Daily Loss: Daily loss limit in USD (default: $2000).
- Max Daily Profit: Daily profit limit in USD (default: $4000).
- Equity High Limit: Stop trading if equity > this (default: $110,000).
- Equity Low Limit: Stop trading if equity < this (default: $90,000).
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Trading Rules
- Trading Session: Asian, London, New York, or All Sessions (default: All).
- Max Trades Per Day: Maximum trades per day (default: 1).
- Max Spread: Maximum spread in points (default: 40).
- Counter Trend: Enable countertrend trading (default: false).
- Randomize Entry: Randomly flip trade direction (default: true).
- Random Delay Entry: Delay trade execution by 0–120 minutes (default: true).
- No Overnight: Close positions at 22:00, pause until 02:00 (default: true).
Usage Instructions
- Setup: Attach the EA to an XAUUSD M1 chart in MetaTrader 5.
- Broker Requirements: Use a broker with low spreads (below 40 points during active hours) and economic calendar data for the news filter. Ensure XAUUSD is available with accurate tick value data.
- Server Time: Verify your broker’s server time offset (e.g., GMT+2 or GMT+3) to align trading sessions and news times. For example, at 05:28 PM +08 (August 26, 2025), if the server is GMT+3, it’s 02:28 PM server time, within London/New York sessions but outside Asian.
- Prop Firm Compliance:
- Adjust Max Daily Loss and Max Daily Profit to match your prop firm’s drawdown rules (e.g., 5% daily loss).
- Set Equity High/Low Limits to align with profit targets and minimum balance requirements.
- Enable No Overnight and Close Positions (news filter) to avoid holding positions during restricted periods.
- Use Max Trades Per Day (default: 1) to comply with trade frequency limits.
- Configure News Importance (e.g., High) and News Currency (e.g., USD) to avoid major news events like FOMC or CPI, which could cause drawdown violations.
- Testing:
- Backtest in MetaTrader 5 Strategy Tester (visual mode) to verify the panel, news lines, and trading behavior under prop firm conditions.
- Test on a demo account to ensure compliance with your prop firm’s rules (e.g., daily drawdown, profit targets, trading windows).
- Monitor red/green news lines and Journal logs (e.g., “News Filter: Trading paused,” “Closed position at 22:00,” “Daily PL limit reached”).
- Customization: Tailor input parameters to your prop firm’s requirements. For example, reduce Lot Size for smaller accounts or set NewsImportance = IMPORTANCE_ALL for stricter volatility protection.
- Monitoring: Regularly check the display panel for settings and Journal logs for trade actions, news pauses, and risk limit triggers to ensure compliance during prop firm evaluations.
Why Choose Gold Prop Firm Challenge EA?
- Prop Firm Ready: Designed to meet strict prop firm rules with daily P/L limits, equity protection, and news filtering to minimize drawdown and ensure consistent performance.
- Robust Strategy: Combines a proven Triple EMA system with randomized entries and delays to adapt to volatile gold markets, ideal for passing funding challenges.
- Volatility Protection: News filter avoids high-impact events, critical for maintaining prop firm account stability.
- Transparency: On-chart display panel with bold headers provides clear visibility of settings, aiding compliance verification.
- Flexibility: Highly customizable to suit various prop firm rules and trader preferences, from session-based trading to risk management settings.
Note: Always test the EA in a demo environment and verify compatibility with your prop firm’s specific rules (e.g., drawdown limits, trading restrictions, allowed instruments). Ensure your broker’s calendar data is reliable for accurate news filtering. For support or customization, contact the developer via the MQL5 Marketplace.