Golden Cream Scalper
- Experts
- Andrii Soma
- Version: 1.11
- Updated: 16 August 2024
- Activations: 10
Signal Link: https://www.mql5.com/en/signals/2245913
Chat for discussions and questions: https://www.mql5.com/en/messages/013c55ab4fefda01
Starting Price: $99
Price Increment: The price will increase monthly by $100 in case of good monthly performance (10% or more).
Works on standard account (no ECN needed).
It was optimized on a small amount of data (7 months of 2024), but the backtest shows great results on a long backtest run using real ticks.
How the Strategy Works:
The strategy leverages market calmness before the US session to place two pending limit orders based on the day's high and low prices. This method ensures precise entry points and efficient profit management.
A Buy and Sell Limit order is placed at the high/low of the day right before the US trading session.
Each trade is protected with a Stop Loss (SL) to manage risk. When a pending order is triggered and the trade moves into profit, a trailing stop loss is applied to lock in profits.
No more than two trades are executed per day. Pending orders that are not triggered are automatically closed after a specified number of hours.
All positions are closed at a predefined time to avoid overnight risk. (this is disabled in default settings by setting 24th hour)All Take Profits (TPs) and Stop Losses (SLs) are based on the percentage of the gold price, ensuring that backtests with prices 2-3 times lower perform just as well as with current prices.
If the gold price increases significantly, the input parameters remain effective and do not require adjustments.
Backtesting/Setup:
- Simply run on XAUUSD using default settings. Timeframe H1.
- Adjust the start hour if your broker timezone is not GMT+2.
Inputs:
- Buy Position SL Percentage - Stop Loss percentage for Buy positions.
- Buy Position TP Percentage - Take Profit percentage for Buy positions.
- Sell Position SL Percentage - Stop Loss percentage for Sell positions.
- Sell Position TP Percentage - Take Profit percentage for Sell positions.
- Gap Percentage for Order Placement - Additional gap percentage for order placement between price extremums and pending orders.
- Start Hour for Placing Orders - Hour to start placing orders.
- Start Minute for Placing Orders - Minute to start placing orders.
- Expiration Time in Hours for Pending Orders - Number of hours after which pending orders expire.
- Hour to Close Open Positions - Hour to close open positions.
- Minute to Close Open Positions - Minute to close open positions.
- Magic Number - Unique identifier for the EA's orders.
- Trailing Stop Loss Trigger Percentage - Percentage to trigger trailing stop loss.
- Trailing Stop Loss Percentage - Trailing stop loss percentage.
- Minimum range for the day to consider placing trades - to avoid low volatility days like holidays
- Only Up - If set to Yes, lot size does not decrease after a drawdown.
- Lot multiplier during balance drawdown - risk: 1 - low, 2 - medium, 3 - high
- Delete Pending Orders After Execution - Whether to delete the 2nd pending order after execution of one of them.
- Lot Size Calculation Method - Method for lot size calculation: LotSizeStep or FixedLotSize.
- Fixed Lot Size - Fixed lot size.
- Lot Size Step Value per 0.01 lot - Account balance step value for lot size calculation. For example, by default for each $100 of balance lot size is 0.01, i.e. 0.1 for $1000
