Gold Coin M5 is an automated trading robot specifically designed for trading in the gold market (XAUUSD) using the M5 timeframe. It caters to traders interested in automated short-term trades (scalping).
Features:
- Scalping Strategy: This robot employs a scalping strategy, quickly entering and exiting trades based on short-term price movements.
- Optimized for XAUUSD on M5: Tuned to trade the XAUUSD pair on the M5 timeframe, the robot is set to capture opportunities in the gold market effectively.
- Minimum Balance Requirement: A minimum balance of $1000 is recommended to provide enough margin for risk management and enable efficient operation on short-term timeframes.
- Ease of Use: The XAUUSD Scalper is user-friendly, making it easy to set up and configure on trading accounts, accessible to both new and experienced traders.
Trading Recommendations:
- Trade on XAUUSD
- Use the M5 timeframe
- Minimum initial balance of $1000
- XAUUSD quotes display 2 digits after the decimal
- Recommended for ECN account types
- Compatible with both PC and VPS setups
- Tested on FXopen broker accounts
Robot Settings:
- Search_trend_bar: Sets the number of bars used to determine the price trend. By default, the trend is identified based on the last 50 bars, guiding trades in the trend’s direction.
- iADX_M5, iADX_M15, iADX_H1: These settings configure the periods for the iADX indicator across multiple timeframes (M5, M15, H1) to assess the trend across three timeframes simultaneously.
- Step: Defines the distance at which pending orders are placed relative to the current market price.
- Acceleration: Sets the trade entry impulse strength. The robot identifies a trend and waits for a significant impulse in its direction. This impulse strength, based on tick volume, enables precise market entries.
- TrailingStop: Specifies the trailing stop distance in points.
- Mult_Profit: Profitability coefficient that triggers the robot to close all open orders. Defined as the ratio between lot size and total profit. For instance, with a value of 300 and a lot size of 0.02, the robot will close all orders once the total profit reaches $6 (0.02 * 300).
- Mult_Loss: Loss coefficient for all open orders. This ratio of lot size + profitability + current order profit determines when the robot should close all trades to prevent excessive losses.
- Distance: Minimum distance in points between open orders, ensuring trades aren’t too close to each other.
- Coin_Step_Trade: Adjustment factor for the trailing stop, tailored to the performance of the current series of open trades.
- StartLots: Sets the starting lot size. The robot records the initial balance and lot size upon activation. As the balance doubles, the lot size increases by 1.2; if the balance decreases, the lot size reduces accordingly.
- Average_spread: Average spread for XAUUSD based on broker data, allowing the robot to optimize performance.
- Magic: A unique identifier (magic number) for the robot’s trades.
