Stochastic Gold Scalper

Stochastic Gold Scalper — Automated Advisor for Precise Scalping

Stochastic Gold Scalper is a professional automated advisor for the MetaTrader 5 platform that combines candlestick pattern analysis with signal filtering through the Stochastic oscillator. This approach allows for identifying the most accurate entry points, minimizing risks, and avoiding false signals. The advisor is ideal for trading on short timeframes like M5 and can be used on instruments such as gold, currency pairs, and indices.

Key Advantages

1. Combination of Candlestick Analysis and Stochastic Filter
   The advisor recognizes key candlestick patterns, such as Bullish Engulfing, Bearish Engulfing, Hammer, Doji, and others. All signals undergo additional verification through the Stochastic oscillator, allowing for filtering out false entries and focusing on high-quality trades.

2. Flexible Risk Management
   Users can choose between fixed trade volume and automatic lot calculation based on a percentage of the deposit. There are also settings for controlling maximum drawdown and limiting the number of simultaneously open trades.

3. Efficient Trade Management
   Trailing stop and break-even functions help minimize losses and maximize profits. Users can customize the parameters for managing positions.

4. Ease of Use
   The advisor features a simple interface and visual elements on the chart. Entry and exit points, as well as Stop Loss and Take Profit levels, are displayed directly on the chart, making trade monitoring and analysis straightforward.

5. Versatility
   Stochastic Gold Scalper is suitable for trading a wide range of instruments, including gold (XAUUSD), major currency pairs, and indices. It is recommended for use on the M5 timeframe but can be adapted to other intervals.

Description of Candlestick Patterns

• Bullish Engulfing:
  A white candlestick completely covers the previous black candlestick, signaling an upward reversal.

• Bearish Engulfing:
  A black candlestick covers the previous white candlestick, indicating a potential downward reversal.

• Hammer:
  A candlestick with a long lower shadow and a small body, signaling that seller pressure is weakening and an upward reversal may begin.

• Inverted Hammer:
  Similar to a Hammer but with a long upper shadow, indicating a potential upward reversal after a downtrend.

• Shooting Star:
  A candlestick with a long upper shadow and a small body, signaling a downward reversal.

• Doji:
  A candlestick where the opening and closing prices are almost equal, indicating market uncertainty.

• Morning Star:
  A three-candlestick pattern signaling an upward reversal: a long black candlestick, followed by a small candlestick (which may be a Doji), and then a white candlestick closing above the midpoint of the first candlestick.

• Evening Star:
  The reverse of the Morning Star pattern, indicating a downward reversal.

• Harami:
  A small candlestick entirely within the body of the previous candlestick. Can be bullish or bearish.

• Piercing Line:
  A white candlestick opens below the close of a black candlestick but closes above its midpoint, signaling an upward reversal.

• Dark Cloud Cover:
  A black candlestick opens above the close of a white candlestick but closes below its midpoint, indicating a downward reversal.

Full Parameter Description

General Settings

TimeFrame — the timeframe on which the advisor operates (M5 is recommended).
MagicNumber — a unique number for trades so the advisor can distinguish its orders.
OrderComment — a text comment added to all trades.

Stochastic Filter Settings

EnableStochFilter — enable or disable the Stochastic filter.
KPeriod — the period for calculating the fast line of the oscillator.
DPeriod — the smoothing period for the slow line.
Slowing — the parameter for slowing down the oscillator.
StochMethod — the method of calculating the moving average (e.g., Simple, Exponential).
OverboughtLevel and OversoldLevel — levels for determining overbought and oversold zones (e.g., 80 and 20).

Risk Management

LotMethod — choose the method of trade volume calculation: fixed lot or percentage of the deposit.
RiskPercentPerTrade — the percentage of the deposit you are willing to risk on a single trade.
MaxTradesAllowed — the maximum number of simultaneously open trades.
MaxDrawdownPercent — the maximum drawdown level, upon reaching which the advisor stops trading.

Trade Management Settings

EnableTrailingStop — enable the trailing stop function.
TrailingStartPoints — the minimum profit in points to activate the trailing stop.
TrailingStopPoints — the distance in points at which the trailing stop follows the price.
EnableBreakEven — enable the break-even function.
BreakEvenStartPoints — the minimum profit in points to move the trade to break-even.
BreakEvenOffset — the distance in points the Stop Loss is moved above/below the entry level in break-even.

Conclusion

Stochastic Gold Scalper is a reliable solution for automated trading. The combination of candlestick pattern analysis with the Stochastic filter ensures high signal accuracy, minimizes risks, and improves trading performance. The advisor is suitable for both experienced traders and beginners looking to automate their strategies.