Gold Distance Trader MT5

A Flexible, Distance-Based Trading Expert Advisor for MetaTrader 5

Distance Trader MT5 is a MetaTrader 5 Expert Advisor (EA) that automates a configurable trading approach based on price distance movements.

The EA can be used on a variety of trading instruments and gives traders full control over trade direction, position size, distance between entries, Take Profit, Stop Loss, and the maximum number of open positions.

Its flexible design makes it suitable for both conservative approaches with a single open position and more advanced strategies requiring multiple entries.

Tested Performance

Distance Trader MT5 has been evaluated using the MetaTrader 5 Strategy Tester. The results shown in the product screenshots represent an example test conducted under specific market conditions and settings.

Key statistics from the displayed test:

• Profit Factor: 4.20
• Sharpe Ratio: 2.37
• Recovery Factor: 2.92
• Total Trades: 2,898
• Winning Trades: 96.93%
• Losing Trades: 3.07%
• Tested on XAUUSD and EURUSD
• Consistent equity growth throughout the displayed testing period
• Multiple drawdown periods were successfully navigated during the test

These results apply only to the specific test environment, settings, symbols, historical data, and broker conditions used during testing.

Past performance and backtest results do not guarantee future results.

Developer's Preferred Configuration

The developer primarily uses the EA on XAUUSD (Gold) with the following baseline configuration:

• Volume = 0.05
• EnableStopLoss = false
• EnableTakeProfit = true
• TakeProfitPips = 500
• TradeDistancePips = 50
• BuyOrders = true
• SellOrders = false
• MaxOpenOrders = 1

This configuration was developed and tested primarily on XAUUSD. It is not investment advice and should not be interpreted as a recommendation or prediction regarding future market prices.

The EA is not restricted to Gold and can be applied to other trading instruments. Users should perform their own testing before live deployment.

How the EA Works

Distance Trader MT5 continuously monitors market prices on the selected chart symbol.

When no EA-managed position is open, the EA can open a new trade according to the selected trading direction.

Additional positions are considered only after the market has moved by the user-defined distance.

This allows traders to control how frequently new entries may occur.

In general:

• Larger distance values typically result in fewer potential entries.
• Smaller distance values may result in more frequent entries.
• Higher MaxOpenOrders settings may increase market exposure.
• Lower MaxOpenOrders settings provide a more conservative approach.

Main Features

• Designed for MetaTrader 5
• Compatible with multiple trading instruments
• Buy-only, Sell-only, or both directions supported
• Fully configurable position size
• Configurable distance between entries
• Optional Stop Loss
• Optional Take Profit
• Adjustable maximum number of open positions
• Automatic volume adjustment to broker requirements
• Margin availability checks before opening trades
• Protection against repeated entries at essentially the same price
• Magic Number support for trade identification
• Manages only positions belonging to the EA and current symbol
• No DLLs required
• No external software required
• Rule-based and fully automated operation
• Suitable for a wide variety of risk-management approaches
• Demonstrated high trading activity in long-term testing

Volume and Broker Specifications

Different brokers and trading instruments may have different:

• Minimum trade volumes
• Maximum trade volumes
• Volume increment steps
• Margin requirements

If AutoAdjustVolume is enabled, the EA automatically adjusts volume requests to comply with broker requirements.

If CheckMarginBeforeTrade is enabled, margin availability is verified before attempting to open a trade.

If sufficient margin is not available, the EA will not attempt to submit an invalid order.

Risk Management

Distance Trader MT5 provides several tools for adapting the risk profile to individual preferences.

In the developer's default configuration, Stop Loss is intentionally disabled. This reflects the developer's personal usage of the EA on XAUUSD and should not be considered a safety feature.

Without a Stop Loss, positions may remain open for extended periods, potentially leading to significant floating losses, drawdowns, and increased margin pressure.

Users who prefer predefined risk limits can enable Stop Loss protection and configure their own settings.

Particular attention should be paid to the MaxOpenOrders parameter.

Increasing the number of simultaneously open positions may:

• Increase overall market exposure
• Require additional capital
• Increase drawdown potential
• Lead to larger account fluctuations

Developer Configuration for Gold (XAUUSD)

For users who wish to start with the developer's original Gold setup:

• Symbol = XAUUSD
• Volume = 0.05
• BuyOrders = true
• SellOrders = false
• EnableStopLoss = false
• EnableTakeProfit = true
• TakeProfitPips = 500
• TradeDistancePips = 50
• MaxOpenOrders = 1

These parameters represent the developer's personal approach and should be thoroughly tested before being used in a live environment.

Important Risk Disclosure

Trading Forex, CFDs, precious metals, and other leveraged financial instruments involves substantial risk.

Automated trading systems can generate losses. Market conditions constantly change and may affect the performance of any trading strategy.

Past performance, backtests, optimizations, or demonstrations are not guarantees of future performance.

Factors including:

• Broker conditions
• Spread variations
• Slippage
• Execution quality
• Leverage
• Market volatility
• Available margin

can significantly affect actual trading results.

The EA does not guarantee profits and should only be used with capital that users can afford to risk.

Before using the EA on a live account, users are strongly encouraged to:

• Test extensively in the Strategy Tester
• Run the EA on a demo account
• Adjust settings according to their risk tolerance
• Review broker-specific trading conditions

Input Parameters

Volume

Desired trading volume for each new position.

EnableStopLoss

Enables or disables Stop Loss protection.

StopLossPips

Stop Loss distance in pips.

EnableTakeProfit

Enables or disables Take Profit.

TakeProfitPips

Take Profit distance in pips.

TradeDistancePips

Minimum price movement required before considering an additional position.

BuyOrders

Enables Buy positions.

SellOrders

Enables Sell positions.

MaxOpenOrders

Maximum number of simultaneously open positions managed by the EA for the current symbol.

AutoAdjustVolume

Automatically adjusts volume according to broker specifications.

CheckMarginBeforeTrade

Checks available margin before opening new trades.

MaxMarginPercent

Maximum percentage of available free margin that a new position may consume.

MagicNumber

Unique identifier used to manage EA trades.

DeviationPoints

Maximum allowed price deviation when placing market orders.

Suggested Starting Point

For initial testing, the developer recommends using a conservative setup with only one open position.

Example:

• Volume = 0.05
• BuyOrders = true
• SellOrders = false
• EnableTakeProfit = true
• TakeProfitPips = 500
• MaxOpenOrders = 1

These settings are provided as a starting point for testing and can be adjusted to suit individual trading objectives, account size, broker conditions, and risk tolerance.

Support and Updates

For product questions and support, please use the MQL5 Market comments section or the MQL5 messaging system.

The Expert Advisor may receive future updates, improvements, bug fixes, compatibility enhancements, and performance optimizations when required.