Gold Scalper Bot utilizes Fibonacci retracements and swing high/low breakouts to identify entries across three selectable modes: scalp, swing, and trend following. The system manages up to three positions simultaneously using an auto-scaling logic with specific distances between entries. Risk management features include a daily loss limit percentage, automated position sizing based on account equity, mandatory stop losses, partial take profits, and an optional trailing stop.
Read from GoldScalperBot_v2.mq5. Defaults are the author's; change them in the EA's Inputs tab.
Name
Type
Default
Description
TradingMode
TRADING_MODE
SCALP_MODE
LotSize
double
0.01
Base lot size per position
RiskPercent
double
1.0
Risk % per trade (1-2% recommended)
UseAutoSizing
bool
true
Auto position sizing based on risk
DailyLossLimitPercent
double
3.0
Daily loss limit (3% = $300 on $10K)
ScalpTakeProfit
int
5
TP in pips (2-5)
ScalpStopLoss
int
10
SL in pips
ScalpFibLevel
double
0.618
Fib retracement level
SwingTakeProfit
int
15
TP in pips (10-20)
SwingStopLoss
int
25
SL in pips
SwingFibLevel
double
0.50
Fib retracement level
TrendTakeProfit
int
30
TP in pips (20+)
Show all 22 inputs
Name
Type
Default
Description
TrendStopLoss
int
40
SL in pips
TrendCandles
int
20
Look back for trend
ScalingDistance
int
5
Pips between entries
PartialTP1
int
5
Close 50% of Position 1 at X pips
PartialTP2
int
10
Close 50% of Position 2 at X pips
UseTrailingStop
bool
true
Trailing stop on Position 3
TrailingStopPips
int
10
Trailing stop distance (pips)
ShowControlPanel
bool
true
Display control panel on chart
MagicNumber
int
123456
EA identifier
EnableTrading
bool
true
Master on/off switch
How to install it
1Download the sourceUse "Download source (.zip)" above, or clone bigthreeatone/gold-scalper-bot from GitHub, and unzip it.
2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
3Copy the filesCopy the .mq5 file into Experts.
4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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