Goldfinch EA 7.2
Metatrader Expert Advisor (MT4/MT5)
This is the latest iteration of my famous scalper, Goldfinch EA, published for the first time almost a decade ago. It scalps the market on sudden volatility expansions that take place in short periods of time: it assumes and tries to capitalize of inertia in price movement after a sudden price acceleration. This new version has been simplified to allow the trader use the optimization feature of the tester easily to find the best trading parameters.
- Simple input parameters for easier optimization
- Customisable trade management settings
- Trading session selection
- Weekday selection
- Money management
The Expert Advisor uses tick data only. Please backtest in "every tick" mode. It does not use HLOC (high - low - open - close) data at all, timeframe of trading is irrelevant.
Tick scalpers are dangerous because many factors can ruin the payoff. Variable spreads and slippage decrease the mathematical expectancy of the trade, a low tick density from the broker can cause phantom trades, the stop level undermines your ability to secure profits and network lag means requotes. Caution is advised.
- ≡ Input parameters
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Price movement needed to fire a trade, in pips. (default = 10)
- Min Time Window
- Minimum time for the price movement to happen. (default = 3)
- Max Time Window
- Maximum time for the price movement to happen. (default = 10)
- Pips in profit to perform the break-even. Zero means disabled.
- Breakeven Behavior
- Choose either a) Move the SL to open price or b) Secure half the profits of the trade
- Trailing Stop
- Trailing stop for trades expressed in % of the trade profit at the time
- Trailing Step
- Minimum increment in the stop-loss order.
- Stop Loss
- Stop-loss in pips, must have value.
- Take Profit
- Take-profit in pips. Zero means disabled.
- Session Settings
- Enable/Disable trading on asian / america / europe sessions
- Weekday Settings
- Enable/Disable trading on weekdays
- Money Management Behavior
- Choose either a) Auto-calculate lotsize for each trade or b) Trade a manual lotsize on each trade
- Risk Per trade
- Risk per trade expressed as % of the account balance
- Manual Lot Size
- Manual lot for the trades
- NFA/FIFO Compliant
- Enable to trade this EA on US Brokers
- Custom Comment
- Custom order comment for the trades
- Magic Number
- Number used by the EA to sign and recognize its trades
- Maximum deviation in filling prices, in points.
- Manual Pip Value
- Override the value of a pip for this symbol, if needed
- ? FAQ
- Is the EA NFA/FIFO Compliant?
- It can trade NFA/FIFO Compliant, make sure to enable FIFO in inputs.
- Do I need a VPS to run the EA?
- You probably do, unless you want to trade just a few hours a day.