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SCOUTS GOLD EA MT4 – Full Input Settings Analysis
Scouts Gold EA is a fully automated trading system developed to trade on the MetaTrader 4 (MT4) platform, specifically for XAU/USD pairs. It uses advanced algorithms, analyzing the market conditions and executing trades automatically based on predefined criteria. Tailored for the 1-minute chart time frame, M1, the EA tries to make as much profit from the change in the price of gold. It is recommended to test the EA first on a demo account to understand the functioning of the EA before trading live.
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Money & Risk Management
- Auto Money: true – Automatically calculates lot size based on account balance.
- SL_risk: 1500 – Stop loss risk level (unit depends on EA logic, can be pips or USD).
- Risk: 5.0 – Max risk per trade as a % of account balance.
- Min_lot: 0.01 – Minimum lot size.
- Max_lot: 100.0 – Absolute maximum lot size.
- Max Lots (per trade): 0.1 – Maximum lot size for a single trade when using AutoLot.
- Daily Profit Target (%): 5.0 – Daily profit target as a percentage of account balance.
- Monthly Profit Target (%): 100.0 – Monthly profit target as a percentage.
- Maximum Loss to Close All Orders ($): 500.0 – Closes all positions when total loss is $500.
Trade Parameters
- Max Orders: 17 – Maximum number of simultaneous open orders.
- Space: 120.0 – Order spacing (pips or points).
- Max Spread: 45 – Maximum allowable spread.
- Multiplier: 1.35 – Lot size multiplier for new trades (light martingale).
- Use_Mul_Plus: false – Additional lot increment mode disabled.
- Plus_Lot: 0.01 – Additional lot if Mul_Plus mode is enabled.
Targets & Closing Conditions
- Stop Loss: 40 (pips/points).
- Take Profit: 10 (pips/points).
- Min Take Profit (first order): 50.
- Average + Take Profit (more than 2 orders): 140.
- Take Profit with 2 orders: 50.
- Orders same Lots: 8 – Number of trades with same lot size before changing.
- Order density: 8 – Trade density (lower is better).
- Signal 2 / Signal 4: 10 & 2 – Signal entry parameters.
Trailing & Pip Step Settings
- Additional Space: 40.0 – Extra space for new trades.
- Trailing All: true – Trailing stop for all trades.
- PipStart All: 100.0 – Start trailing all trades after 100 pips profit.
- PipStep All: 100.0 – Trailing step for all trades.
- Trailing First Order: true – Trailing stop also for first order.
- PipStart First: 100.0 – Start trailing first order after 100 pips profit.
- PipStep First: 100.0 – Trailing step for first order.
- Pip_signal_2: 8 – Secondary signal parameter.
News Filter
- News_filter: true – News filter enabled.
- News before Min: 100 – Stop trading 100 minutes before high-impact news.
- News After Min: 60 – Stop trading 60 minutes after news.
- Event Impact: 3 – Filter only high-impact news events.