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Gold Coin M5 is an MT4 expert advisor that scalps gold (XAUUSD) on the M5 chart. It trades in the direction of a trend found on several timeframes and uses pending orders, a trailing stop and basket-level closing rules.
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Gold Coin M5 is an automated scalping system for MetaTrader 4. It is designed to trade gold, quoted as XAUUSD, on the five-minute chart. It looks for the prevailing direction of the market, waits for a short burst of momentum in that direction and then manages the resulting orders with a trailing stop and basket-level exit rules.
The logic has three stages: trend, impulse and exit.
The EA studies a configurable number of recent bars to judge price direction. It also reads the ADX indicator on three timeframes (M5, M15 and H1) so that the short-term chart is checked against slower ones. The aim is to open trades only in the direction these readings support.
Once a trend is identified, the EA waits for a sharp move in the same direction. Momentum is measured with tick volume, and an acceleration input sets how strong the impulse must be before it acts. Entries use pending orders placed at a set distance from the current price. A separate distance input keeps open orders from being stacked too close together.
Open positions are managed with a trailing stop in points. The EA can also close the whole group of orders when combined profit or loss reaches a limit. Those limits are expressed as multipliers of the lot size, so they scale as the lot changes. A further coefficient adjusts the trailing behavior according to how the current series of orders is performing.
| Input | Purpose |
|---|---|
| Search_trend_bar | Number of bars used to judge the trend direction |
| iADX_M5, iADX_M15, iADX_H1 | ADX periods on the three timeframes used for trend filtering |
| Step | Distance from the market price at which pending orders are placed |
| Acceleration | Required strength of the tick-volume impulse before entry |
| TrailingStop | Trailing stop size in points |
| Mult_Profit | Basket profit target as a multiple of the lot size |
| Mult_Loss | Basket loss limit, also tied to lot size |
| Distance | Minimum gap in points between open orders |
| Coin_Step_Trade | Trailing stop correction based on how the order series is doing |
| StartLots | Starting lot; the EA adjusts lot size as the balance grows or shrinks |
| Average_spread | Your broker's typical XAUUSD spread, so the EA can adapt |
| Magic | Unique number identifying this EA's orders |
Default values are not listed here because they can differ between builds. Open the inputs window after attaching the EA and check each value against your broker's conditions before trading.
Gold can move fast and spreads can widen around news releases, which affects any scalping system. Pending orders may fill at worse prices than expected, and a basket of open orders can run into losses before an exit rule applies. Test on a demo account and in the strategy tester, and use a lot size you can afford.
Trading carries risk, and you can lose some or all of your capital. Past results, including backtests, do not predict future ones.
If you plan to run it continuously, consider a VPS so the terminal stays online.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (expert advisor) |
| Strategy focus | Gold or XAUUSD, Scalping, Trend, Momentum |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, automated trading |
| Symbol | Gold, XAUUSD (quotes with 2 digits) |
| Timeframe | M5 |
| Trade style | Scalping, trend and momentum entries with pending orders |
| Account type | ECN-style account suggested by the developer |
| Suggested balance | Developer suggests from about 1000 USD; confirm with your broker |
| Hosting | Desktop terminal or VPS |
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No. This listing is the MetaTrader 4 version and runs only in MT4. An MT5 terminal cannot load it. If you use MT5, look for a separate MT5 product instead.
Attach it to an XAUUSD chart set to M5. It is tuned for that pairing, so other symbols or timeframes are not what it was designed for. Check that your broker's gold symbol has 2 digits after the decimal point, since the developer's guidance assumes that.
The developer suggests an ECN-type account and a starting balance from about 1000 USD. These are guidelines, not guarantees of any outcome. Check your broker's spread, commission, stop level and margin rules for gold before going live, and test on a demo account first.
The defaults are a starting point. Set the Average_spread input to match your broker's typical XAUUSD spread, choose a StartLots value that fits your balance and risk tolerance, and give each chart a unique Magic number. Review the other inputs in the strategy tester before trading live.
Yes. It can run on a desktop terminal or a VPS. A VPS keeps MT4 connected without interruption, which matters for a short-term system that manages pending orders and a trailing stop.
Copy the expert advisor file into the MQL4/Experts folder through File, Open Data Folder in MT4. Restart the terminal or refresh the Navigator, enable algorithmic trading, then drag the EA onto an XAUUSD M5 chart and adjust the inputs.
Gold Coin M5
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