Velmorys Gold

Velmorys Gold

Velmorys Gold is a free MetaTrader 5 Expert Advisor for gold quoted in US dollars. Its two default engines combine range reversion and directional basket trading, using completed M30 candles and H4 context. Attach it to an M5 gold chart; the signal timeframe is configured separately.

Trading approach

The range engine looks for reversions after a price extension. The directional engine follows the prevailing direction and can add exposure after an adverse move and a rebound trigger. This is basket/grid trading with configurable lot progression. It is not a no-grid strategy. A separate pyramiding engine is available through bit 4 of EngineMask, together with MacroFilter=true and an aligned strong M30/H4 regime. It is not enabled by the reference preset or included in its performance results.

Risk and account configuration

The reference configuration is aggressive. Cash loss thresholds are expressed in EUR and converted to account currency where a current conversion quote is available. Base lot, exposure ceiling, maximum layers, volatility adjustment, session, and loss limits are configurable. Changing capital without reviewing these inputs changes the risk profile.

On hedging accounts the EA can manage both sides independently. On netting accounts it permits one direction at a time and tracks additions internally. Netting results are therefore different; do not compare them as identical strategies. Reserve the netting symbol for this EA.

The EA manages basket exits in the terminal. The optional emergency server stop is a separate backup, not a guarantee that the basket or account loss limit will be respected. Keep MT5 or a VPS running. Gaps, execution delays, disconnections and slippage can increase losses.

Operation

Runtime state is retained for restarts. Missing or inconsistent state with open exposure causes a protective recovery response rather than new entries. Automatic live clock measurement and configurable historical clock settings are provided. Historical UTC offsets must be checked for an unrecognized broker. Chart candles remain broker-dependent. Gold/USD uses the reference price distances. On other instruments, price distances scale with completed daily volatility; technical compatibility does not establish profitability outside gold.

Testing

Use real ticks, realistic commissions, swaps and execution delay. The strategy was researched using historical data; historical results are not live results or a promise of returns. Differences between brokers, hedging/netting, currencies, histories and settings can materially change performance. The free price does not reduce trading risk.

Inputs

RegimeTF and Lookback set the signal observation window. EngineMask selects engines. BaseLot, LotMultiplier, MaxLevels and MaxGrossLots control exposure. VolatilityReference and DefensiveATRThreshold adapt exposure and spacing. SideStopEUR, DailyStopEUR, MaxDrawdown and PriceStopSteps control software risk exits. StartHour and EndHour use a New York-close reference clock (UTC+2 in US winter, UTC+3 in US summer); the default entry window is 07:00–22:00 in that clock. TradingEnabled controls new entries; existing exposure remains managed. EmergencyServerStop enables the backup server stop. Magic identifies independent ownership. ShowDashboard displays the operating status. Account-wide equity guards assume no unrelated trading or external cash flows during the measured run; deposits, withdrawals and other positions can affect them.

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