Midas Trader

MIDAS TRADER – XAUUSD Expert Advisor with Partial Take Profits

Midas Trader is a fully automated Expert Advisor designed for Gold (XAUUSD). It combines a moving-average crossover entry with trend, momentum and volatility filters, and manages each trade with three partial take-profit levels, an automatic break-even and a trailing stop.

How it works

Entry signal: the EA calculates a moving average of closing prices and one of opening prices (ALMA by default). A long signal occurs when the close-based average crosses above the open-based average; a short signal occurs on the opposite cross.

Each signal is confirmed by several filters:

• Trend filter: longs only above the 144-period EMA, shorts only below it.
• Momentum filter: RSI (28) compared with its own 10-period EMA, to avoid buying into overbought or selling into oversold conditions.
• Volatility filter: no entry after an abnormally large candle (configurable size).
• Extension filter: no buying right at recent highs and no selling right at recent lows.
• Trading hours: entries only within a configurable time window (broker server time).

Trade management

• Stop Loss set as a percentage of the entry price.
• TP1: closes a configurable portion of the position and can move the Stop Loss to break-even.
• TP2: closes a second portion and activates the trailing stop.
• TP3: closes the remaining volume.
• Daily protection: after a trade closes with a loss, the EA stops opening new trades for the rest of the day.

The EA opens one trade at a time and only when no other positions are open on the account.

Recommendations

• Symbol: XAUUSD
• Timeframe: M5
• Minimum deposit: 1000 USD with leverage 1:100 or higher
• Broker: low spread on Gold, ECN/RAW account recommended
• A VPS is recommended for uninterrupted operation

Please test the EA in the Strategy Tester with your broker’s data before using it on a live account. Settings expressed in points depend on how many decimal digits your broker uses for XAUUSD (2 or 3 digits), so adjust them accordingly.

Input parameters

Trading hours

• Start Hour / Start Minute: beginning of the trading window (server time).
• End Hour / End Minute: end of the trading window (server time).

MA & basis settings

• MA Type: moving average used for the entry signal ([ALMA, EMA, SMA]).
• MA Period: period of the moving averages.
• Offset/Sigma: sigma parameter for ALMA.
• ALMA Offset: offset parameter for ALMA.
• Delay Open/Close MA: number of bars to shift the calculation.
• Trades: allowed direction (LONG, SHORT, BOTH, NONE).

Volatility & trend filters

• Max candle filter: enables the large-candle filter.
• Max candle size: maximum body size of the previous candle, in points.
• Lookback bars: number of bars used to detect recent highs and lows.

Risk management

• Stop Loss (%): distance of the Stop Loss as a percentage of the entry price.
• TP1 / TP2 / TP3 Level (%): take-profit distances as a percentage of the entry price.
• TP1 / TP2 / TP3 Quantity (%): portion of the initial volume closed at each level.
• Move SL to break-even at TP1: true/false.
• Starting lot: fixed volume of each trade.

Trailing stop (active after TP2)

• Use trailing: true/false.
• Trailing distance: distance from the current price, in points.
• Trailing step: minimum improvement required to move the Stop Loss, in points.

Risk warning

Trading leveraged products such as Gold CFDs involves a high level of risk. Past performance, including backtest results, does not guarantee future results. Use this EA only with capital you can afford to lose.