Gold Spectrum

Suitable for Beginners and Satisfying for Experienced Traders

Are you an experienced trader?
I don't have to explain anything to you. You know what a reliable backtest and a long time in the market are worth. Have fun with all the informations at your disposal.

Are you a beginner?
You don't have to worry about setting any operational parameters or doing a lot of backtesting to find the ideal setting. Just look at the statistics and assess the risk you want to take.
Do a backtest to ensure the risk is calculated correctly and that there are no problems with your broker's specifications, or run it on a demo account for a while.

The backtest data are there to give you an idea of what you can expect from this EA.

If everything goes wrong, what is the maximum loss I'm looking at?
Look at the DRAWDOWN in dollars. Is that too high a figure? Instead of $100, choose a lower amount (see the recommended minimum) and do the ratio.
How much can I expect to earn each month?
Look at MONTHLY AVERAGE PROFIT, but remember that there are months at a loss! It's a time goal of at least one year.
How many trades does the strategy make in a month?
Look at the total number of trades and divide it by the backtest months.

And so on. Number of consecutive loss, average trade, average Win/Loss...

Before using any EA, make sure you fully understand the risks involved. This EA is provided "as is" with no guarantees of specific performance or results. Past results do not guarantee future results.

Parameters setup

Custom comment
By default, EA's name.

MagicNumber
Choose a unique number to track performance separately from other EAs.

Risk per trade
Please look at the strategy metrics to manage the risk you want to take.
Depending on the width of the SL, the minimum size could result in a loss more significant than the value you set. Recommended minimum value 20 $

Size decimals
Order size will be rounded to the selected number. Use 2 for microlots 0.01 

Size if no MM
How many lots should be traded if something goes wrong in the size calculation. Default value 0,01

Maximum lots
The biggest size allowed.

Exit Friday
By Default 22 for time zone UTC+02 (Mon-Fri)
Enter the equivalent based on your broker's time zone. Ex. UTC+01 = 21

Easy peasy! You don't need to set up other parameters.

This EA is provided to trade XAUUSD timeframe H1
Check your broker's specifications to set properly Exit on Friday

The EA verifies the entry signal and places pending orders at the distance defined by the short-term range.

Please look at the images. The strategy was launched in May 2023. You can compare the list of trades from the backtest and Myfxbook. There are slight differences, the backtest is still reliable.

Order type Stop
Entry Level Short-term period range
Entry signal ADX-based
Stop Loss ATR-based. Min 600 pip, max 3000 pip
Take profit fixed pips
Trailing stop none
Exit Friday 10 pm broker time

Trading rules are checked only on bar open.

This EA was created with StrategyQuant X, a powerful platform to generate, develop, and research algo strategies.