Gold Trailblazer
- Experts
- Version: 1.0
- Activations: 10
Gold Trailblazer is a trend-following breakout Expert Advisor for XAUUSD.
HOW IT WORKS
The EA trades in the direction of the H1 trend. A buy is considered only when price is above both the EMA 20 and the EMA 50 of H1, and a sell only when price is below both. Entries are triggered by an intrabar breakout of the high or low of the last 4 closed M15 bars. By default, the EA enters only when price is already stretched from the fast EMA by at least 1.25 ATR, which filters out weak moves near the average.
Each trade has a fixed stop loss. After the trade moves in profit, a trailing stop based on the H1 ATR follows price. A time stop closes a trade that stays open for too long. There is no fixed take profit by default.
One position at a time. Fixed lot. No martingale, no grid, no hedging, no averaging down.
RESULTS PANEL
A panel on the chart shows the results of the EA's own trades, identified by the Magic Number: wins and losses, gross profit, gross loss, net result in account currency and in percent of balance, for today, this week, this month and all time. The data is read from the account history when the EA starts and updated after every closed trade. Closed trades are drawn on the chart as green (win) or red (loss) lines. The panel can be collapsed with the button in its corner. The EA does not draw indicators on the chart. The chart colors it applies are restored when the EA is removed (see ApplyChartTheme).
REQUIREMENTS
- Symbol: XAUUSD (use the exact symbol name of your broker).
- Attach it to one XAUUSD chart. The trend and breakout timeframes are set in the inputs and do not depend on the chart timeframe.
- Allow algorithmic trading in the terminal.
- Hedging or netting accounts are both supported.
- Check the spread, commission and stop level of your broker. Stops respect the minimum distance required by the broker.
MAIN INPUTS
Trend
- TrendTF, FastEMA, SlowEMA: timeframe and periods used to define the trend.
- MinDistEMAATR: minimum distance of price from the fast EMA, in ATR. 0 turns the filter off.
Entry
- BreakoutTF, BreakoutBars: timeframe and number of bars that define the breakout channel.
- BreakoutBufferPips: extra distance beyond the channel.
- StartHour, EndHour: trading window in server time.
- MaxSpreadPoints: maximum spread allowed to open a trade. 0 means no filter.
Exit
- StopLossPips: fixed stop. 300 pips equals 30 USD of price movement on gold, which is 30 USD per 0.01 lot.
- TakeProfitPips: optional fixed target. 0 means no target.
- TrailATRMult, ATRPeriod: trailing distance in ATR.
- TrailStartPips, TrailStepPips: profit needed to start trailing, and the step size.
- MaxBarsInTrade: maximum trade duration in bars of the trend timeframe.
Money management
- Lots: fixed lot size.
- MagicNumber: identifies this EA's trades. Use a different number for each chart or copy of the EA.
Panel and chart
- ShowPanel, PanelX, PanelY, ApplyChartTheme, DrawClosedTrades, DrawLastTrades.
IMPORTANT
Trading leveraged instruments involves a risk of loss. Gold can move fast and spreads can widen around news. This EA does not guarantee any result, and past test results do not predict future results. Test it first in the Strategy Tester and on a demo account, and use a lot size that fits your account.
Support: please use the product comments or private messages on mql5.com.
