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.
When loading the expert 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
- 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.
Keep comments tidy and respectful. Avoid spam, offensive remarks, self-promotion and posting personal or payment information. The comment section is for discussion and questions only. Kindly note that we'll never solicit payments in the comments section.