Gold Spike Catcher MT5
- Experts
- Version: 2.0
- Activations: 5
Gold Spike Catcher - XAUUSD M5
Gold rarely moves in a straight line. It spends most of the day inside a range and then suddenly breaks out of it, often by several dollars in a few seconds. Gold Spike Catcher is built for those moments.
The EA marks the last confirmed swing high and swing low on the M5 chart and places a buy stop above the high and a sell stop below the low. When price breaks out, the order fills and the stop loss sits only 0.50 away. If the move continues, a trailing stop follows it closely and locks in profit as the spike develops. If the breakout fails, the loss is small.
You should expect a lot of small losses and small wins, with the real profit coming from a minority of strong moves. That is how the strategy works, and it is worth knowing before you start.
There is no grid, martingale, averaging down or hedging. The EA holds at most one trade, and the stop loss is part of the pending order itself, so a filled trade is never left without one.
Getting started
Attach the EA to an XAUUSD M5 chart. Any gold symbol name works (XAUUSD, GOLD, XAUUSD.r and so on). Choose a risk level and enable Algo Trading. That is all the setup it needs.
Account: entries happen while price is moving quickly, so execution quality shows up directly in the results. Use an account with tight raw spreads and run the EA on a server near your broker (an MQL5 VPS works well).
Deposit: from 200 USD. 500 USD or more lets the lot size follow your risk setting more precisely.
Leverage: 1:100 or higher.
Risk levels
Instead of a long list of settings to tune, there is one input called "Risk level".
1 - Safest: 0.5% risk per trade. Stops opening trades after a 20% drawdown or a 3% losing day.
2 - Low: 1% risk per trade. Stops after a 30% drawdown or a 5% losing day.
3 - Medium (default): 2% risk per trade. Stops after a 50% drawdown.
4 - High: 3% risk per trade. Stops after a 50% drawdown.
5 - Very high: 4% risk per trade, no drawdown stop. Only for money you can afford to lose.
Custom: set every value yourself.
On levels 1 to 3, lot size is also capped so that the position would fit a 1:200 margin requirement. Many brokers switch to this lower leverage around news and the daily rollover. Levels 4 and 5 apply the cap only during those periods.
Other features
- Reduced lots, or no new orders at all, during high-impact news, the daily rollover and the weekend open and close (news filter on MT5 only, using the built-in economic calendar)
- Daily loss limit and maximum drawdown stop
- Trading hours filter and two skip hours (07:00 and 13:00 server time by default)
- Maximum lot size
- Works with brokers that use stop levels, freeze levels or do not accept order expiry, and with 2- or 3-digit gold quotes
- Information panel showing account status, today's result, overall statistics, the next entry levels and the open trade
Past results do not guarantee future performance.
