Gold Coin M5 v1.0

Gold Coin M5 Trading Robot Overview

Platform: MetaTrader 4 (MT4)
Strategy: Scalping (Short-Term Trading)
Market: XAUUSD (Gold Market)
Timeframe: M5 (5-minute chart)
Minimum Balance: $1000

Key Features and Peculiarities:

• Scalping Strategy: The robot uses a scalping approach, making instant entries and exits based on short-term price movements in the gold market.

• Optimized for XAUUSD: It is specifically tuned for trading the XAUUSD pair on the M5 timeframe, ensuring it maximizes opportunities within the gold market’s price action.

• Minimum Balance Requirement: A recommended minimum balance of $1000 is suggested to ensure sufficient margin for trading on short timeframes and to manage risks effectively.

• Ease of Use: Designed for both beginners and seasoned traders, it’s easy to install, configure, and use, whether on a personal PC or VPS (Virtual Private Server).

• Tested on FXopen: The robot was tested using FXopen broker accounts, making it compatible with similar broker setups.

Trading Recommendations:

• Market: XAUUSD (Gold)

• Timeframe: M5

• Minimum Initial Balance: $1000

• Account Type: ECN (Electronic Communication Network) account type is recommended for low spreads and fast execution.

• Platform: Trade on PC or VPS.

Robot Settings Explained:

1. Search_trend_bar: Defines the number of bars used to determine the price trend. The default setting is 50 bars.

2. iADX_M5, iADX_M15, iADX_H1: These are the periods of the iADX (Average Directional Index) indicator on the M5, M15, and H1 timeframes. The robot uses these three timeframes to determine the overall market trend.

3. Step: The minimum distance in points at which pending orders are placed from the current market price.

4. Acceleration: Defines the strength of the trading impulse based on tick volume, which the robot uses to open orders in the direction of the trend.

5. TrailingStop: The size of the trailing stop in points. This parameter locks in profits as the price moves in the robot’s favor.

6. Mult_Profit: The profitability coefficient at which the robot closes all open trades. For example, if Mult_Profit is set to 300 and the lot size is 0.02, the robot will close trades once the total profit reaches $6.

7. Mult_Loss: The loss ratio at which the robot will close all open trades, set proportionally to the lot size and current profitability of the trades.

8. Distance: The minimum distance between orders, ensuring the robot does not open trades too close together.

9. Coin_Step_Trade: Adjusts the trailing stop based on the performance of the current series of trades.

10. StartLots: Determines the initial lot size based on the balance size when the robot is first launched. The robot increases or decreases the lot size in increments based on the balance size changes.

11. Average_spread: Sets the average spread for XAUUSD from your broker to optimize the robot’s performance based on spread data.

12. Magic: A unique identification number for the robot, which helps distinguish its trades from others.

Summary:

The Gold Coin M5 robot is ideal for traders looking to capitalize on the fast-paced movements of the gold market, using a well-optimized scalping strategy. With an easy setup and intelligent risk management features, it provides an automated solution for traders who want to trade on short-term timeframes (M5) with the XAUUSD pair.