BG Gold MT5

BG Gold is an automated breakout Expert Advisor for MetaTrader 5. It is intended for Gold symbols such as XAUUSD and is designed for use on the M30 timeframe.

The Expert Advisor uses pending Buy Stop and Sell Stop orders to enter the market when its configured breakout conditions are met. Entry distance, trading time, position size, Stop Loss, trailing stop, and protection settings can be adjusted through the inputs.

BG Gold manages only orders and positions that match its Magic Number. Manual trades and positions opened by other Expert Advisors are not modified.

Main functions

• Pending Buy Stop and Sell Stop entries
• Configurable breakout distance
• Fixed-lot or percentage-risk position sizing
• Initial Stop Loss
• Configurable trailing activation, distance, and step
• Maximum spread filter
• Trading-session filter based on broker-server time
• Daily equity-loss protection
• Maximum position and pending-order limits
• Cancellation of outdated pending orders
• Configurable pending-order expiration
• Optional Christmas and New Year trading pause
• Adjustment for commonly used 2-digit and 3-digit Gold quotations
• Broker volume, margin, price, and stop-distance checks
• Optional information dashboard

Position sizing

BG Gold provides Fixed Lot and Percentage Risk modes.

In Fixed Lot mode, the Expert Advisor uses the selected volume after checking the configured volume limits, broker restrictions, and available margin.

In Percentage Risk mode, the requested volume is calculated using:

• Account balance
• Selected risk percentage
• Effective Stop Loss distance
• Symbol tick value
• Symbol tick size
• Broker volume requirements
• Available margin

The effective Stop Loss distance is the greater of the configured Stop Loss and the minimum distance permitted by the broker.

The calculated volume is adjusted according to the configured minimum and maximum volume, the broker’s minimum and maximum volume, the volume step, available margin, and the symbol’s aggregate-volume limit.

If the calculated volume is below the minimum permitted volume, the minimum volume may be used. In this situation, the actual risk can be higher than the selected percentage. This is particularly relevant for accounts with a low balance.

If the symbol information required for the calculation is unavailable or invalid, the Expert Advisor does not submit a new order.

Stop Loss and trailing stop

New trades use the configured initial Stop Loss, subject to broker requirements.

The trailing stop has separate settings for:

• Activation distance
• Trailing distance
• Trailing step

Existing BG Gold positions can continue to receive Stop Loss and trailing management when new entries are blocked by a session filter, seasonal pause, or daily equity-loss limit.

Daily equity-loss protection

The optional daily equity-loss protection compares current account equity with the calculated account balance at the beginning of the current broker-server day.

When the configured limit is reached:

• New BG Gold entries are blocked for the rest of the broker-server day.
• Untriggered pending orders belonging to BG Gold are cancelled.
• Existing positions are not closed automatically.
• Existing BG Gold positions continue to use their Stop Loss and trailing settings.
• Entry permission is evaluated again on the next broker-server day.

This function does not guarantee that losses will be limited to an exact percentage. Gaps, slippage, commissions, swaps, execution delays, and changes in open-position value can affect the final result.

Seasonal trading pause

BG Gold includes an optional Christmas and New Year trading pause.

By default, new entries are blocked from December 24 through January 7. Entry processing resumes on January 8. The dates use broker-server time and can be changed in the inputs.

While the pause is active, the Expert Advisor cancels its untriggered pending orders and does not place new ones. Existing positions are not closed and continue to be managed. Manual trades and trades belonging to other Expert Advisors are not modified.

Gold quote formats

Gold symbols can use different quote formats depending on the broker. BG Gold can adjust its point-based parameters for commonly used 2-digit and 3-digit Gold quotations.

The adjustment applies to:

• Breakout distance
• Maximum spread
• Initial Stop Loss
• Trailing-stop distances
• Percentage-risk calculation
• Dashboard distance information

Broker tick size, minimum stop distance, freeze level, volume limits, and execution rules always take priority. Quote-digit adjustment can be disabled in the inputs.

Order validation

Before submitting or modifying an order, BG Gold checks applicable trading conditions, including:

• Trading permissions
• Minimum, maximum, and step volume
• Available margin
• Account pending-order limit
• Symbol aggregate-volume limit
• Supported pending-order types
• Supported expiration modes
• Minimum pending-order and Stop Loss distances
• Freeze level
• Symbol tick size

These checks do not prevent all order rejections or execution differences. Results can be affected by broker settings, market conditions, connection problems, slippage, and execution delays.

Information dashboard

BG Gold includes an optional dashboard that is disabled by default. It can be enabled in the Expert Advisor inputs.

The dashboard can display:

• Account information
• Positions on the attached symbol
• Pending orders
• Market information
• Trading-session status
• Protection status
• Breakout calculation information

Individual dashboard sections can be shown or hidden.

The dashboard may display manual positions and other positions on the attached symbol. However, BG Gold only manages orders and positions that match its Magic Number.

Dashboard information is for monitoring only. Enabling or disabling the dashboard does not change entry calculations, position sizing, Stop Loss placement, trailing management, or order validation. Dashboard rendering is skipped during non-visual Strategy Tester runs.

Recommended use

• Platform: MetaTrader 5
• Intended instrument: Gold
• Recommended symbol: XAUUSD or the broker’s equivalent Gold symbol
• Recommended timeframe: M30
• Algorithmic trading must be enabled
• Sufficient free margin is required
• The broker must support stop pending orders and Stop Loss modification

Broker symbol names may include prefixes or suffixes, such as XAUUSD.a, XAUUSDm, or GOLD. Attach BG Gold only to the broker’s Gold symbol.

The default point-based settings are intended for Gold. Use on currency pairs, cryptocurrencies, indices, or other instruments is not recommended.

Testing and risk notice

Test the Expert Advisor with the intended broker, symbol, timeframe, spread, commission, and execution conditions before live use. When suitable tick history is available, the “Every tick based on real ticks” Strategy Tester mode can be used. Demo forward testing is also recommended.

Automated trading involves risk and does not guarantee future results. Market gaps, spread changes, slippage, execution delays, broker data, and changing market conditions can affect performance. Use position-sizing and protection settings appropriate for your account and risk tolerance.