Mount Gold EA MT5 is based on several strategies of combinations of classic indicators that include trend following as well as oversold/overbought strategies and is best performing on XAUUSD pair. However, it also works for other metals and currencies, especially for manual trading where the entries are based on trader’s own market analyze.
Entry and exit trades takes place by virtual trailing algorithms. Adding of recovery positions doesn't become executed on statical preset distance, but on related indicator as well as current market movement dynamic. The expert’s parameter list is designed for easy setup and operation. It includes an Onscreen-panel with buttons for operate main functions that are fully operable in visual backtest mode as well. This means that the user can test the expert in backtest mode just like if he would operate the purchased version.
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Buttons description:
Button (picture) at upper left corner allows to hide/show the panel
Button “TRADE” opens two more buttons to select open Buy or Sell order
Button “AUTO” enables/disables to open new set after closing of previous set and does not affect the currently running set
Button “CLOSE” opens two more buttons that enable to close the running Grid set (or the last Grid position if it matches the current Takeprofit) manually
(Button status in gray color mean currently inactive)
The settings include the following parameters:
Play sound on Profit close
Play Sound while profit trailing
Set Magic Number
Set Position Comment
Set Panel Background Color
Select Account free Amount Mode based on Margin, Balance or Equity
Set Account maximum free Amount % to be utilized for trading
Set Account Risk Amount per 0.01 lot to use for initial position
Set Lotsize fix for initial position if Risk Amount per 0.01 lot to use for initial position = 0
Set Lotsize max. for initial position if Risk Amount per 0.01 lot to use for initial position > 0
Enable/disable Buy positions and/or Sell positions
Set max. of open positions
Set max. Spread
Set max. Grid positions after initial position
Set min. distance between grid positions
Select Grid scaling mode: Fixed Volume, Arithmetic, Geometric or Geometric by MathPower
Set Lot size for scaling mode “FixedVolume”(*)
Fixed Volume: Next position lot size = value of (*)
Arithmetic: 1, 2, 3, 4, 5, 6, 7,… , max Lot size
Geometric: 1, 2, 4, 6, 8, 10, 12,… , max Lot size
Geometric by MathPower: 1, 1, 2, 4, 8, 16, 32,…, max Lot size
Set Stop loss per position (closes only affected position(s) if drawdown was reached)
Enable/Disable Drawdown Reduction
Set start level for Drawdown Reduction
Set Take profit trailing activation
Set entirely percent of saved profit after Take profit was activated
Set Trading periods and times
Set display onscreen panel during visual backtest mode
Recommended Settings:
Timeframe: Any. Does not depend on current timeframe.
Broker: ECN Broker of good reputation is always highly recommended
Account Type: Hedging
VPS: Always recommended for auto-trading Experts
Instrument: XAUUSD (2-Digits)
Leverage: For 1:100 accounts the minimum recommended capital should be $1000 and for 1:30 minimum $3000
