GoldGlimmer MT5

# GoldGlimmer MT5 Expert Advisor

MT4 Version https://www.mql5.com/en/market/product/122403?source=Site+Market+My+Products+Page

# Overview

GoldGlimmer MT5 is a sophisticated automated trading system designed for MetaTrader 5 platform. This Expert Advisor combines multiple technical indicators to identify high-probability trading opportunities while maintaining strict risk management protocols. Perfect for traders seeking a balanced approach to automated trading with comprehensive safety features.

## Important Notice

**Optimized Specifically for:**

- Symbol: GOLD (XAUUSD)

- Timeframe: 15 Minutes (M15)

- **Important: Use open price backtesting as the EA processes bar data, not ticks**

## Key Features

### Advanced Trading Strategy

- Multi-indicator confirmation system for enhanced accuracy

- Smart entry and exit points based on market momentum

- Adaptive position management with trailing stop functionality

- Dynamic market analysis using proven technical indicators

### Intelligent Risk Management

- Comprehensive account protection mechanisms

- Advanced drawdown control

- Daily loss limits and equity protection

- Flexible position sizing and lot management

- Multiple risk layers for maximum account safety

### Professional Trade Execution

- ECN broker compatible

- Smart retry system for reliable order execution

- Spread monitoring and control

- Advanced session management

- Precise stop loss and take profit placement

### Customizable Trading Sessions

- Flexible trading hours configuration

- Special handling for different market sessions

- Weekend gap protection

- Session-based position management

## Trading Logic

### Entry System

Utilizes a sophisticated combination of indicators:

- Awesome Oscillator for momentum confirmation

- Bulls Power for trend strength validation

- Commodity Channel Index (CCI) for market dynamics

- Williams Percent Range for timing optimization

### Exit Strategy

- Alligator indicator for trend reversal detection

- Dynamic trailing stop system

- Multiple take profit mechanisms

- Smart position closure based on market conditions

## Parameters and Settings

### Basic Settings

```

Magic_Number = 452190568    // Unique identifier for trades

Entry_Amount = 0.10         // Standard lot size for trading

Stop_Loss = 4322           // Stop Loss in pips

Take_Profit = 4897         // Take Profit in pips

```

### Indicator Parameters

#### Awesome Oscillator

```

Level = *.****            // Signal threshold level

```

#### Bulls Power

```

Period = *                // Calculation period

Level = *.****          // Signal threshold

```

#### Commodity Channel Index

```

Period = *              // CCI calculation period

Level = ****             // Signal threshold level

```

#### Williams' Percent Range

```

Period = *               // Calculation period

Level = -**.*          // Signal threshold

```

#### Alligator Settings

```

Jaws_Period = **        // Jaws line period

Jaws_Shift = **         // Jaws line shift

Teeth_Period = **       // Teeth line period

Teeth_Shift = **       // Teeth line shift

Lips_Period = **        // Lips line period

Lips_Shift = *         // Lips line shift

```

### Protection Settings

```

Max_Spread = 0          // Maximum allowed spread in points

Max_OpenPos = 0         // Maximum open positions

Max_OpenLots = 0.00     // Maximum total lot size

MaxDailyLoss = 0        // Maximum daily loss limit

Max_Daily_DD = 0.00     // Maximum daily drawdown percentage

Min_Equity = 0          // Minimum equity protection

MaxEquity_DD = 0.00     // Maximum equity drawdown percentage

```

## Trading Session Configuration

```

Session Sunday: 02:00-23:00

Session Monday-Thursday: 02:00-23:00

Session Friday: 02:00-24:00

```

## Advantages

1. **Risk Management**

   - Multiple layers of account protection

   - Sophisticated drawdown control

   - Daily reset capabilities

   - Equity protection mechanisms

2. **Trade Management**

   - Professional order execution

   - Smart retry system

   - Spread monitoring

   - ECN compatibility

3. **Flexibility**

   - Customizable parameters

   - Session-based trading

   - Adaptable to different market conditions

   - Multiple timeframe compatibility

4. **Reliability**

   - Robust error handling

   - Stable execution system

   - Professional trade management

   - Comprehensive safety features

## Best Practices

1. **Initial Setup**

   - Start with demo testing

   - Adjust parameters based on your risk tolerance

   - Monitor initial trades carefully

   - Verify broker compatibility

2. **Optimization**

   - Regular parameter review

   - Performance monitoring

   - Risk setting adjustments

   - Session time optimization

3. **Risk Management**

   - Set appropriate stop loss levels

   - Monitor daily drawdown limits

   - Adjust position sizing accordingly

   - Regular performance review

## Requirements

- MetaTrader 5 Platform

- Stable internet connection

- Compatible broker

- Sufficient account balance for chosen lot sizes

- Understanding of forex trading basics

This Expert Advisor represents a professional-grade trading solution suitable for both newcomers and experienced traders, offering a balanced approach to automated trading with strong emphasis on risk management and reliable execution.