GoldFever MT5

Gold Fever: breakout EA for gold (XAUUSD / GOLD)

Attention: The default set is configured for 20% balance risk. To reduce or increase the risk percentage, please read below. "How to set the risk"

The positive results are built on the positive statistics prevailing over the negative ones. That is why need to have patience if the one wants to achieve positive results. The end justifies the means. Be patient. Patience is a virtue.

Gold Fever trades the previous day’s extremes. Every new day it removes its old pending orders and places a fresh pair of stop orders around the previous trading day’s levels:

• Buy Stop above the highest level of yesterday
• Sell Stop below the lowest level of yesterday

Levels can be yesterday’s fractals (on a timeframe of your choice) or the plain High/Low of the day. Both orders are independent, and every trade has a stop loss.

Features (The default set is configured for 20% balance risk. To reduce or increase the risk percentage, please read below. "How to set the risk")

• Works on gold with any broker prefix or suffix (XAUUSD, XAUUSDm, GOLD#, etc.)
• Fractal or High/Low levels, adjustable entry buffer, stop loss and take profit
• Break-even and trailing stop
• Built-in protections: maximum lot, pause after consecutive losses, daily loss limit, wait after the market opens, spread filter
• Optional trading window (GMT), Buy/Sell switches, on-chart dashboard
• No martingale, no grid, no averaging

How to set the risk

Choose Volume mode:

• Fixed volume: every order uses the same lot.
• Risk % of balance / equity: the lot is calculated so that a stop-loss hit loses the chosen percentage.
• Risk in money: the lot is calculated for a fixed amount per trade.
• Balance lot: one fixed volume for every X of balance.

For the risk modes set Risk per order, % and keep Distance used to size the risk at 0, so the lot is calculated from your Stop Loss.

Example: balance $10,000, risk 1%, Stop Loss 2000 points (a $20 move on gold, loss of about $2,000 per 1 lot on most brokers). Risk = $100, lot = 100 / 2000 = 0.05. If the stop is hit, you lose about $100 (1%). The lot is rounded down to the broker’s step; if it is below the minimum lot, the minimum is used and the real risk is higher.

Balance lot example: fixed volume 0.10, X = 5000, balance $12,000 gives 2 steps, so the lot is 0.20.

We recommend starting with 0.5–1% risk per trade. If you enter a value in Distance used to size the risk, the lot is sized for that distance instead of the Stop Loss, so the real loss at the stop will be larger or smaller accordingly.

Recommended: XAUUSD, a broker with low spreads, a VPS for continuous operation. Test on a demo account first.

Risk warning: trading involves risk, past results do not guarantee future performance. Results depend on broker conditions such as spread, slippage and execution speed.