Gold Spike Hunter Pro

Overview

Gold Spike Hunter PRO is an Expert Advisor built specifically for XAUUSD on MetaTrader 5. It runs six internal strategies as a single coordinated system, each with its own entry conditions, stop loss, take profit and waiting period between entries.

The system looks for high-probability volatility spikes and directional momentum in gold, and stays out of the market the rest of the time. It is deliberately selective: quality of entry over quantity of trades.

Its risk controls were designed with proprietary trading firm rules in mind, which also makes it straightforward to run on a personal account.

This product is actively maintained and receives updates to improve stability and adapt to changing market behaviour.

Strategy Profile

Intraday day trading, based on volatility and momentum, with precision entries.

No Martingale. No Grid. No Recovery systems. No High-Frequency Trading. No Scalping.

Periods without trades are normal and expected. The system does not force entries when conditions are not favourable.

PRO or Master: Which One

Both products share the same core engine and the same calibration. The difference is how often they engage the market.

PRO is the calmer of the two. If you are running a prop firm evaluation or prefer fewer, more selective positions, this is the version to choose.

Supported Market and Broker Compatibility

The system trades XAUUSD only, and is calibrated around its volatility behaviour and liquidity.

Broker symbol names are detected automatically, including variations such as XAUUSD, XAUUSD.a, XAUUSDm, GOLD and GOLDmicro. The resolved name is written in the Experts log at start-up so you can confirm what the EA found. If your server uses a non-standard convention, a manual symbol name input is available.

The EA is designed to operate across ECN brokers, STP brokers, prop firms, retail accounts and VPS environments, through an adaptive calibration engine that absorbs differences in spread, liquidity provider and execution model.

A hedging account is recommended. On netting accounts all six strategies merge into a single position with a blended average price, so the break-even logic does not apply there. The EA still trades, but position management is designed for hedging.

For proprietary trading firms, the structure aligns with the rules most of them apply: controlled exposure, no risk amplification techniques, daily loss protection with an automatic pause, and no grid stacking. The daily loss threshold is configurable, so you can set it slightly below your firm's limit and keep a buffer. Always verify the rules of your specific firm before trading.

Single-Chart Rule

The EA must run on one chart only. Recommended setup: XAUUSD, H1 timeframe, one instance. Never change the timeframe while the EA is running.

From version 2.1 the EA detects this by itself. If a copy is already running on another chart of the same terminal, the second copy does not trade and the panel states the reason. Detection covers charts within the same terminal, so if you run two separate terminals on one account, keep the EA in only one of them.

Installation

1. Open MetaTrader 5.
2. Ensure XAUUSD is visible in Market Watch.
3. Open the XAUUSD chart and set the H1 timeframe.
4. Attach the EA to that chart only.
5. Enable Algo Trading / AutoTrading.
6. Confirm successful initialization in the Experts tab.
7. Choose the Lot Size Mode. Automatic needs no further setup; Manual needs the volumes from the reference table.

Once active, the EA monitors market conditions and executes only when its internal criteria are met.

Lot Size Mode

Version 2.1 introduces automatic position sizing. This is the default mode and no volume configuration is needed.

In Automatic mode the EA calculates the volume of every trade from the account balance and the real stop loss distance of that specific strategy, asking the broker server for the exact monetary value. Each strategy carries its own risk level, because each one uses a different stop loss, and a single shared percentage would not respect that difference.

Three rules govern the calculation:

The volume is always rounded down to the broker's volume grid, so the result never exceeds the requested risk. When the calculated volume falls below the broker minimum, the minimum is used. And when even the minimum volume would exceed the maximum risk allowed, the signal is discarded rather than opened with more risk than requested, with the reason written in the log and shown on the panel.

The result is that as the account grows, risk converges towards the configured target from below, never above it.

The maximum risk input is a limit per trade, not an aggregate limit. Several strategies can hold positions at the same time, so combined exposure can exceed that figure. The daily loss protection is what caps total exposure over a 24 hour window. On a funded account, set that threshold with your firm's daily limit in mind.

In Manual mode each strategy uses the fixed volume you set, and the reference table below applies.

Minimum Balance and Manual Lot Reference

Minimum recommended balance: 250 USD.

Gold has a coarse volume grid. On a small account every strategy sizes at the broker minimum of 0.01 lots in both modes, so Automatic and Manual behave the same. Risk differentiation between strategies only becomes visible from roughly 500 USD upward, as the calculated volume starts to exceed the minimum.

The table below applies to Manual mode. In Automatic mode the EA sizes every position by itself and this table is for reference only.

These values assume a XAUUSD contract size of 100, which is the most common specification. If your broker uses different contract specifications, verify the symbol properties before applying them. To keep a consistent risk profile in Manual mode, increase the volumes proportionally with the account balance.

Trading Logic

The decision framework combines volatility spike detection, momentum imbalance, price structure analysis, market exhaustion zones, intraday liquidity flows and multi-factor confirmation.

The six strategies work across different timeframes and directions. They do not share a common entry rule, and each one carries its own stop loss, take profit and waiting period, which is why they are sized independently in Automatic mode.

Risk Management Framework

Risk is controlled through several independent layers:

Position sizing from account balance and real stop loss distance, or fixed volumes per strategy. Dynamic stop loss and adaptive take profit per strategy. Break-even logic after a defined progression towards target. Daily loss limitation that closes the EA's own positions and pauses trading for 24 hours. Protection against consecutive losses that temporarily suspends trading and reactivates by itself, useful after high-impact news events.

From version 2.1 the daily loss protection and the loss streak protection count only the positions opened and managed by this EA. Positions from other programs or opened manually are never touched and never counted. Trade results include commission and swap with the correct sign.

Every order is validated before it is sent: volume limits, volume step, aggregate symbol volume limit, broker minimum stop distance, free margin and open market session. A signal that fails any of these checks is discarded and reported, instead of being sent and rejected by the server.

Input Parameters

Parameters are organised in named groups inside the EA properties window. Boolean inputs: false means OFF, true means ON.

Trading window. Broker server time, calibrated for a GMT+3 schedule. If your broker server time is not GMT+3, adjust these inputs so the effective window matches the same GMT+3 hours.

Note on break-even. It can reduce drawdown, and it can also reduce long-run performance by closing trades earlier during normal retracements. On brokers that enforce a wide minimum stop distance, a break-even set at 90 percent may not execute, because at that point the price is already too close to the target for the server to accept the modification. Lowering the level gives it more room.

Note on daily risk. It is a limit per 24 hour window, not a limit on total drawdown over a longer period. On funded accounts, set it slightly below the firm's daily limit to keep a buffer.

Note on the TP Booster. OFF is recommended for a more conservative style. ON may increase aggressiveness in profit capture and can lead to different outcomes depending on market conditions and execution.

Market sensitivity is the most relevant input to set up. Test it using recent data, ideally the last 24 months.

On-Chart Panel

The panel reports the EA name and version, the trading status, the symbol being monitored, the active lot size mode, the account balance, the profit and loss of the day with the daily risk bar, and the number of discarded signals with the reason for the last one.

That last line makes support easier: you can report what the panel says without opening the log. The panel also states directly when algo trading is disabled, when the account does not allow Expert Advisors, when the daily limit has paused the EA, and when a duplicate copy is detected.

Backtesting, Normal Behaviour and Operational Notes

For realistic backtests, use the last 12 to 24 months of historical data, with real spreads, real commissions and accurate tick data. Older data may not reflect current execution conditions, and SensitivityLevels should be calibrated for your broker before drawing conclusions.

The following are normal and do not indicate a problem: periods with no trades, variable trade frequency, selective entries, automatic pauses due to risk protections, and discarded signals in Automatic mode when the account is small relative to a specific strategy.

For stable operation, use a VPS, avoid frequent restarts or re-attaching the EA, and do not mix it with other EAs on the same account. Each strategy uses internal waiting times between entries, and restarting resets them. A dedicated account also keeps the daily loss calculation and the suspension logic aligned with what this EA is actually doing.

Troubleshooting

Updates and Support

Support for this product is provided through the MQL5.com product comments and the MQL5.com messaging system. Please use these official channels for questions, troubleshooting and update-related assistance.

Disclaimer

Trading financial markets involves risk. Past performance does not guarantee future results. Results may vary due to broker execution, spread and commission conditions, market volatility, liquidity and user configuration. Test the product in the Strategy Tester and on a demo account before running it on a live account.