Golden Bird MT5

Golden Bird MT5

is an indicator-based Scalping Expert for trading XAUUSD (Gold).

If the indicator-pattern occurs, two stop orders become placed on the high/low of the pattern-defined zone. The onscreen panel provides a detailed overall view about system and market status. Furthermore, it includes buttons for active Traders to place additional sessions and/or market orders manually at any time as mechanical experts are not able to catch every further promising trading opportunity during the day’s market movement. 

Unlike other experts that use Martingale or Grid strategies, Golden Bird MT5 doesn’t use such strategies and protects its trades by setting fixed Stoploss and in addition, possible drawdowns become limited by the build-in recovery function that balances profitable positions with lower loss positions. The recovery-levels, if used, are calculated by the Expert’s pattern and not statically like many Grid/Martingale systems use.

Profits are taken by virtual trailing and start at the preset of “Profit Trail Activation” level or higher if its underlying indicator-controlled value exceeds the preset.

The expert is spread- and latency-sensitive. Therefore, it is highly recommended to choose Hedge ECN-accounts of types “RAW” or “Razor” with reliable Brokers like IC Markets, FP Markets, Tickmill, … However, standard accounts are not recommended as of their often huge spreads! 

For continuously operation the Expert should become installed on a VPS with locations of low latency like for example New York or London.

Installation is done on the XAUUSD chart whereby the chosen timeframe doesn’t matter and even can be changed at any time of the expert’s operation status without to affect it. Furthermore, the expert regards only trades of the same Magic Number in conjunction with the Symbol. Therefore, manually entered trades should be entered by the corresponding Panel buttons “BUY”/”SELL”, if become included in the Expert’s calculations. 

As the Expert might not place trades daily, please have a look here for daily trading and ask for bonus if you already purchased Golden Bird MT5:

https://www.mql5.com/en/market/product/110852

TIP: Backtest in visual tester mode allows to operate the Expert just like in life trading if in the Settings “Display Panel in visual Tester Mode” was set to “true”. All the buttons can be utilized. To utilize the News Reader data in visual tester mode, please ask for my special free Script tool that prepares the news data for Backtesting. 

Features Overview

• Currency pair XAUUSD (2 Digits)
• Minimum Capital $1.000 (recommented)
• Works in any timeframe
• All Trades StopLoss-protected
• Recovery mode optional (No Grid/Martingale)
• Virtual trailing stop and trailing take profit
• Broker big slippage and big spread protection
• Money Management with Auto-Volume adaption
• Onscreen Panel with status information/messages and buttons for manually:
• Opening of new Stop Order set at any time manually
• Opening of Buy/Sell Market Orders
• Closing open Orders
• Show/hide Onscreen-Panel by clicking its headline or pushing key ‘s’

Detailed Settings Description: https://www.mql5.com/en/blogs/post/756039

>>> Tips for choosing the right broker and VPS provider: https://www.mql5.com/en/blogs/post/756040

Setup and Configuration

Install the Expert with its default settings on XAUUSD-Chart of preferred timeframe and set your capital risk level. Before starting with live trading, provide a backtest with 100% real quotes and use a demo account initially before switch to real account!

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