Project No Gold
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Multiple markets / One management framework
Project No Gold (PNG) is a multi-market Expert Advisor for MetaTrader 5. It combines built-in strategies for USDJPY, silver, and US, Japanese, and German stock indices.
Select your markets, adjust trading size by market, and manage the portfolio from a single chart. PNG combines strategy execution, position sizing, protection, and monitoring in one framework, designed to explore opportunities beyond gold.
Markets and Strategies
| Market | Example broker symbols |
|---|---|
| USD / JPY | USDJPY, USDJPY.a, USDJPY.raw |
| Silver | XAGUSD, SILVER |
| US Technology Index | USTEC, NDX, NAS100.cash |
| US 500 Index | US500, SP500, US500.cash |
| Japan 225 Index | JP225, NI225, JPN225.cash |
| Germany 40 Index | DE40, GDAXI, GER40.cash |
PNG combines the RIFT (BOS) and SURGE (VOLUME MATRIX) strategy families, each with built-in entry, stop-loss, and exit rules. PNG does not use Martingale position escalation.
Different markets can still lose together. Evaluate overlapping trades and combined drawdown, especially when adding PNG to an existing gold or silver portfolio.
Trade Execution
PNG monitors entry conditions internally and sends market orders after its execution checks pass. This avoids repeatedly creating, modifying, and cancelling server-side pending orders for entries.
In an earlier internal comparison, the market-order approach averaged approximately 300 log entries per day, compared with 8,400 for the pending-order approach, while net profit and drawdown remained broadly similar.
A signal does not always lead to immediate entry. Depending on the situation, entry may be delayed or skipped, and entry prices and initial stop-loss placement may differ slightly. This is part of the strategy design.
Trades can therefore be less uniform, resembling the variation of manual trading while decisions remain automated. I regard this distinctive execution and reduced pending-order management as useful tools for operating in prop-firm environments.
It is not a strategy like AI, quantum, or API connectivity.
Position Sizing
| Setting | Purpose |
|---|---|
| Risk Level | Adjusts trading size for the selected market using embedded references and strategy allocations. Higher values request larger sizes. |
| Fixed Lot | Requests the same broker lot size for every active strategy within the selected market. |
| Sizing Balance | Zero uses the current account Balance. A positive value uses the specified capital as the sizing basis. |
Broker minimum lots, lot steps, and margin affect actual order sizes and can limit further size reduction.
I generally do not recommend the full portfolio below USD 1,000. Fewer markets or Fixed Lot may be easier to evaluate, but suitable capital depends on your broker and selected configuration.
Protection and Monitoring
Optional Daily Drawdown Protection uses a separate percentage threshold. When triggered, it blocks new PNG entries and attempts to close PNG-owned positions. Other controls include per-market spread filters, News Protection, and pre-weekend management; enable those you intend to use.
Safe Start and saved-state checks may pause entries during installation or recovery until market and data readiness conditions are met. Startup notices explain initialization failures and required actions.
Enable Show Info Panel to view Risk Level, market results, minimum-lot limitations, and operating status. Current DD / Max DD show observed PNG drawdown in account currency, including floating profit or loss, from the displayed tracking start. Small Risk Level values retain their displayed precision.
Easy to Use - Setup and Backtesting
For a complete explanation of all inputs, see the PDF User Guide.
- Use an MT5 hedging account without mandatory FIFO closing. Attach PNG to USDJPY H1 with One Chart Mode enabled.
- Map each enabled market to its exact broker symbol. Check Broker Time Zone, margin, and protection settings.
- Keep Algo Trading enabled and the terminal connected. A reliable VPS is recommended. Begin with demo or forward observation.
Use Every tick based on real ticks for final confirmation. Match PNG's Backtest Mode to the MT5 tester model; Backtest Speed is a separate setting.
Check individual markets and the combined portfolio, including commissions, swap, losing periods, and balance/equity drawdown. One-minute OHLC is a preliminary check, not a substitute for real-tick validation. Verify optional News Protection separately in demo or forward operation.
My Approach
Greed is, in my view, the greatest enemy in trading. No one can predict the market, so I think diversification and disciplined risk management are our best defenses.
started developing EAs because I couldn't understand why some cost up to $10,000 despite offering no guarantee of future profits.
I HATE countdowns, limited-time offers, or promotional sales. However, PNG required significant research and development, so it cannot be free. I'm also working on free EAs for research purposes.
Questions, feedback, and ideas are always welcome. Let's exchange knowledge and learn together. Spam will be blocked.
Risk Note
Losing trades, losing streaks, and drawdowns are possible. Gaps, slippage, and execution conditions can cause losses beyond protection thresholds. Past performance does not guarantee future results. Check your prop firm's rules independently; PNG does not guarantee compliance or acceptance.
