Azure Gold
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XAUUSD · Expert Advisor
Azure is a quoting policy, not a signal generator.
Most expert advisors try to answer one question: where is the price going? Azure does not ask it. It asks a different one — at what price am I willing to be on each side right now, given what I am already holding?
That question is the one Avellaneda and Stoikov formalised. Azure implements their framework.
The reservation price
At the centre of the model sits a reservation price: the price at which the advisor is indifferent between buying and selling. It is not the mid price. It is the mid price shifted by the inventory currently carried.
Hold nothing, and the reservation price sits where the market sits — both sides are quoted symmetrically. Accumulate a long position, and the reservation price slides down: the advisor becomes harder to hit on the buy side and easier on the sell side. Accumulate a short, and it slides the other way.
The consequence is simple. Inventory is not a side effect of the strategy — it is an input to it. The more Azure carries, the more its own quotes lean toward getting flat again. Nothing has to detect that a position has grown too large, because the size of the position is already inside the price at which the next one would be taken.
Intrinsic time
The second idea is where Azure departs from almost everything else on this market.
A conventional advisor thinks in calendar time: M5, M15, H1. It wakes on a schedule and asks the same question every bar, whether the market moved a hundred dollars or nothing at all. Half of those questions are asked into an empty market, and the other half arrive late.
Azure thinks in intrinsic time. Its clock is driven by price itself: a decision happens when price has actually travelled, and only then. There is no bar period, no timeframe, no schedule.
What that changes, concretely:
- A quiet hour produces almost no decisions. Nothing moved, so nothing is asked.
- A violent hour produces many — several within the same second if the market delivers them.
- Weekends and halts are not gaps. They are simply intervals in which the clock did not advance.
- The chart timeframe is irrelevant. Azure builds its own event series and reads nothing from the chart it sits on.
This is the same time axis used in the directional-change literature — the one that treats the market as a sequence of price events rather than a sequence of minutes.
Built for gold
Azure is calibrated for XAUUSD and nothing else. Gold moved from roughly 1,800 to well past 4,500 over the period it was studied on, and a policy written in fixed dollar distances would have meant two different things at the two ends of that range. Azure's distances are relative, so one setting means the same thing at 1,800 as at 4,600.
Settings
The panel is deliberately short.
| Setting | What it does |
|---|---|
| Fixed lot ON/OFF | choose between a fixed size and a size that scales with the account |
| Fixed lot | the size used when the switch is ON |
| Lot per balance step Balance step | when the switch is OFF, one step of lot per step of balance |
| Lot cap | a hard ceiling, or 0 to leave it to the broker |
| Magic number | so Azure only ever touches its own positions |
There is nothing else to optimise. No thresholds to guess, no windows to fit, no grid spacing to choose.
What Azure does not do
- No martingale. The size never increases because the last trade lost.
- No trailing stop. The protection placed at entry is never moved afterwards.
- No chart panel, no drawing, no timer widget. It writes to the journal and it trades. Nothing is rendered on your chart.
Requirements
- Symbol: XAUUSD (or your broker's gold equivalent)
- Hedging account — Azure manages each side independently and may hold both at once
- Any chart timeframe; the advisor does not read it
- Algorithmic trading enabled
