Trading Robots for MetaTrader 4
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MetaTrader 4
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Overview
Expert Advisor Express Gold is the latest automated trading robot that applies Martingale strategy specifically for the Gold market (XAUUSD). Martingale is a high-risk trading strategy, however the EA incorporates a scalper approach on initial winning trades to reduce the losing streak and reduce risk. The EA has Stop Loss and Take Profit parameters and increases the Lot Size by a multiplier after losing trades (Martingale), with a suitable R/R ratio, a smaller multiplier can be set.
The EA is simple to use and set up, users can start with the default settings (with Gold having 2 digits).
Settings:
| Parameters | Value |
| Max Spread | = 25 to 60 (points for 2 digits, must be higher than the average spread of the pair) |
| Use Auto Initial Lot | = True (or False) |
| Auto Initial Lot Size | = 1.0 (= 1 mean auto initial lot size = 1 lots per $1,000,000 balance, or 0.01 lots per $1,000 balance...) |
| Fixed Initial Lot Size | = 0.01 (apply if Use Auto Initial Lot = False) |
| Multiplier Lot | = 1.33 (= 1.33 is suitable for Risk/Reward ratio = 1/3) |
| Max trades with Multiplier | = 20 (trades) |
| Take Profit | = 750 (points) |
| Stop Loss | = 250 (points) |
| Trailing | = 10 (points,Trailing if Win Streak) |
| Start Trailing | = 50 (points,Trailing if Win Streak) |
| Time Start | = 01:30 (hour:minutes) |
| Time End | = 22:30 (hour:minutes) |
| Magic Number | = your number |
Use Auto Initial Lot = True, EA will calculate initial lot size according to initial account balance.
Use Auto Initial Lot = False, EA will trade with initial lot size as Fixed Lot Size Initial
Multiplier Lot is the multiplier of lot size after each losing order and back to initial lot size after a winning order.
Recommend:
This EA is specifically designed for Gold (XAUUSD).
Time frame: any timeframe. Use VPS with low latency (< 20ms).
Use EA with ECN or Raw spread accounts, spread < 30 points. Min Balance: $ 500
If Gold (XAUUSD) has 3 decimal places with the price (ex: 1700.123). You need to change the Take Profit and Trailing values to 10 times the default value (ex: Take Profit = 7500, Trailing = 100 ...), because the pip, point ratio of 2 and 3 decimal places differs by 10 times.
Martingale is a risky strategy but many traders understand the risk and use it with their own risk management plan.
