Gold Reflex EA Overview
Gold Reflex EA is a free expert advisor for MetaTrader 5 designed specifically for scalping XAUUSD (gold) from the M15 chart. It strategically places pending buy and sell stop orders, allowing it to capitalize on sudden market movements with rapid execution.
Core Features of Gold Reflex EA
- Platform: MetaTrader 5 only.
- Asset: XAUUSD on M15 timeframe.
- Trading Modes: Two modes available – Mode 1 for selective trades and Mode 2 for frequent trading with shorter stops.
- Risk Management: Includes a hard stop loss on all trades with no grid or martingale strategies, and an option for percentage-risk auto lot sizing.
- Trailing Stop: Near-instant trailing stop is deployed to secure profits quickly.
- Drawdown Protection: Optional module to reduce lot size after consecutive losses.
System Requirements
- Minimum account balance of $100, recommended $250 or more.
- Requires a raw spread or ECN account for optimal performance.
- Best run on a reliable VPS for continuous operation and stable results.
Installation Steps
- Download Gold Reflex EA file for MetaTrader 5.
- Open MetaTrader 5 platform, go to ‘File’ > ‘Open Data Folder’.
- Navigate to ‘MQL5’ > ‘Experts’ folder and paste the downloaded EA file.
- Restart MetaTrader 5.
- Attach Gold Reflex EA to the XAUUSD M15 chart and configure settings as needed.
Performance Insights
Gold Reflex EA demonstrates impressive performance through its live signal and backtests. It operates with a high level of precision, with trades often closing within seconds, making it an ideal tool for traders seeking quick scalping opportunities on gold.