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Golden Pickaxe is an MT5 expert advisor that trades gold (XAUUSD) on the M1 chart using a mean-reversion grid, a neural network trade filter and a news filter. It needs a hedging account.
Get one message the moment it launches, with its price.
Golden Pickaxe is an expert advisor for MetaTrader 5 that trades gold against the US dollar. It uses a mean-reversion grid: it looks for price stretching away from recent levels, opens an initial trade, and adds further trades at set distances if price keeps moving against it.
The strategy builds support and resistance zones from a Donchian channel, and it reads the medium-term direction from a daily moving average. A volatility filter is meant to keep it out of the most erratic conditions. When a setup appears, the EA opens a first position and then manages the rest of the grid, with each added trade sized by a multiplier you can adjust.
An optional filter estimates the probability that a new trade will close in profit and skips trades below a threshold you set. You can use the built-in configuration or switch on a training mode to retrain the network on your own broker's price history. Training is a separate step, so check the training options and dataset size before you use it.
The package includes five preset configurations that act as different risk profiles on gold. The default is the more aggressive one. Review each preset on a demo account before you decide which suits your balance and tolerance for drawdown.
The EA is designed for XAUUSD on the M1 chart only. Symbol names differ between brokers, so confirm that your broker's gold symbol works with the EA. Because it is built around one symbol, it should be attached to a single chart.
The inputs fall into a few groups. Exact defaults depend on the preset you load, so check them in the input window instead of assuming figures.
| Group | What it controls |
|---|---|
| Money management | Switch new grids on or off, choose fixed lots, dynamic lots or deposit-load sizing |
| Strategy | Donchian channel period and timeframe, daily average period, volatility filter, percentage-pips mode |
| Machine learning | Neural network filter on or off, built-in or custom configuration, minimum probability of profit |
| Training | Training mode, dataset size, hidden layer neurons, training algorithm, number of restarts |
| Grid | Distance between trades, multipliers for the second, third to fifth and later trades, maximum number of trades |
| Other | Order comment and instance number |
Grid systems can hold several positions at once when price trends against them, which raises margin use and drawdown. Leverage, account size, lot-sizing method and the maximum number of grid trades all affect how much room the account has. Check free margin under adverse conditions before running live.
Trading carries risk, and you can lose some or all of your capital. Past results, including backtests, do not predict future ones. Test on a demo account first.
For backtesting, use good-quality tick data and a server time offset that matches your broker, since the news and time logic depends on it. Run the EA on a VPS and use a broker with tight spreads on gold.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (hedging account required) |
| Strategy focus | Gold or XAUUSD, Grid, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Market | Gold, XAUUSD |
| Timeframe | M1, attached to a single chart |
| Trade style | Mean-reversion grid with support and resistance levels |
| Filters | Neural network, news, volatility and market crash filters |
| Requirements | Hedging account, VPS recommended, WebRequest access enabled |
| Broker type | Low-spread ECN-style broker preferred |
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No. The grid opens several positions in the same direction and needs a hedging account. Check your account type with your broker before buying.
Attach it to one XAUUSD chart on the M1 timeframe only. Running several copies on the same symbol can cause conflicts. If you do need more than one instance, give each a different instance number in the settings.
The news filter and time detection read data from external web services. In MT5, open Tools, then Options, then Expert Advisors, tick the WebRequest option and add the addresses given in the product documentation. Without this the filters cannot work properly.
The EA manages open grids and should run continuously, so a VPS is strongly recommended. If the terminal is closed or loses its connection, open trades are no longer managed.
It follows the same approach but is built for MetaTrader 5. An MT4 terminal cannot load it. Check that your broker offers MT5 with a hedging account and gold quotes.
The right amount depends on your broker's leverage, your lot-sizing method and the preset you choose. Test on a demo account first and check free margin while a grid is deep. Do not rely on a single minimum figure.
Golden Pickaxe MT5
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