Summary: Gold Horizon EA is an MQL4 expert advisor for XAUUSD that combines dual EMA trend detection, ATR volatility filtering, and strict equity-based risk management. Suitable for H1 timeframe.




Gold Horizon EA is a robust Expert Advisor designed specifically for Gold (XAUUSD) trading. Unlike aggressive martingale or grid systems that risk unlimited drawdown, this EA employs a disciplined trend-following approach combined with volatility-adaptive risk controls . It incorporates the latest stability features including spread protection, cooldown periods after losses, and Friday close mechanisms to protect against weekend gaps .

Recommended Timeframe: H1
Trading Logic:
  • Trend Detection: Dual EMA crossover (fast EMA 12, slow EMA 26) identifies directional bias.

  • Volatility Filter: ATR(14) ensures entries only occur during normal volatility regimes; extreme volatility triggers a cooldown.

  • Momentum Confirmation: RSI(14) above 50 for longs, below 50 for shorts to filter low-probability setups.

  • Risk Management: Fixed SL (300 points), trailing stop activation at 1x ATR profit, daily loss limit 5%, max spread 35 points.


    • ``mql4
    //+------------------------------------------------------------------+
    //| GoldHorizonEA.mq4 |
    //| |
    //+------------------------------------------------------------------+
    #property copyright ""
    #property link ""
    #property version "1.00"
    #property strict

    //--- input parameters with comments
    input double LotSize = 0.01; // Fixed lot size (0.01 lot for XAUUSD)
    input int FastEMAPeriod = 12; // Fast EMA period for trend detection
    input int SlowEMAPeriod = 26; // Slow EMA period for trend detection
    input int RSIPeriod = 14; // RSI period for momentum filter
    input int ATRPeriod = 14; // ATR period for volatility-based stop loss
    input double ATRStopMultiplier = 1.5; // Stop loss as multiple of ATR
    input double ATRTakeMultiplier = 3.0; // Take profit as multiple of ATR
    input double TrailingStart = 1.0; // Trailing stop activates after profit (x ATR)
    input double TrailingStep = 0.5; // Trailing stop step (x ATR)
    input int MagicNumber = 202419; // Unique EA identifier
    input int MaxSpread = 35; // Maximum allowed spread in points (Gold)
    input double DailyLossLimit = 5.0; // Daily loss limit as percentage of balance
    input int CooldownMinutes = 30; // Cooldown after losing trade (minutes)
    input bool UseFridayClose = true; // Close trades before Friday 21:00 GMT

    //--- global variables
    double dailyStartBalance = 0;
    datetime lastBarTime = 0;
    bool fridayCloseExecuted = false;
    datetime lastLossTime = 0;
    double avgATR = 0;

    //+------------------------------------------------------------------+
    //| Expert initialization function |
    //+------------------------------------------------------------------+
    int OnInit()
    {
    dailyStartBalance = AccountBalance();
    lastBarTime = 0;
    fridayCloseExecuted = false;
    lastLossTime = 0;
    avgATR = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
    if(avgATR <= 0) avgATR = 200 Point;
    return(INIT_SUCCEEDED);
    }

    //+------------------------------------------------------------------+
    //| Expert deinitialization function |
    //+------------------------------------------------------------------+
    void OnDeinit(const int reason)
    {
    Comment("");
    }

    //+------------------------------------------------------------------+
    //| Check if cooldown is active |
    //+------------------------------------------------------------------+
    bool IsCooldownActive()
    {
    if(lastLossTime == 0) return false;
    if(TimeCurrent() - lastLossTime < CooldownMinutes     60) return true;
    lastLossTime = 0;
    return false;
    }

    //+------------------------------------------------------------------+
    //| Manage trailing stop |
    //+------------------------------------------------------------------+
    void ManageTrailingStop(double atr)
    {
    for(int i = OrdersTotal()-1; i >= 0; i--)
    {
    if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
    {
    if(OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber)
    {
    double newSL = 0;
    if(OrderType() == OP_BUY)
    {
    double profitPoints = (Bid - OrderOpenPrice()) / Point;
    if(profitPoints >= (TrailingStart atr / Point))
    {
    newSL = Bid - (TrailingStep     atr);
    if(newSL > OrderStopLoss())
    OrderModify(OrderTicket(), OrderOpenPrice(), newSL, OrderTakeProfit(), 0, clrNONE);
    }
    }
    else if(OrderType() == OP_SELL)
    {
    double profitPoints = (OrderOpenPrice() - Ask) / Point;
    if(profitPoints >= (TrailingStart atr / Point))
    {
    newSL = Ask + (TrailingStep     atr);
    if(newSL < OrderStopLoss() || OrderStopLoss() == 0)
    OrderModify(OrderTicket(), OrderOpenPrice(), newSL, OrderTakeProfit(), 0, clrNONE);
    }
    }
    break;
    }
    }
    }
    }

    //+------------------------------------------------------------------+
    //| Expert tick function |
    //+------------------------------------------------------------------+
    void OnTick()
    {
    // Daily equity protection
    double currentEquity = AccountEquity();
    double lossPercent = (dailyStartBalance - currentEquity) / dailyStartBalance 100;
    if(lossPercent >= DailyLossLimit)
    {
    Comment("Daily loss limit reached. No new trades.");
    return;
    }

    // Cooldown after losing trade
    if(IsCooldownActive())
    {
    Comment("Cooldown active for ", CooldownMinutes, " minutes after loss.");
    return;
    }

    // Friday close before weekend gap
    if(UseFridayClose && !fridayCloseExecuted)
    {
    datetime currentTime = TimeCurrent();
    if(TimeDayOfWeek(currentTime) == 5 && TimeHour(currentTime) >= 21)
    {
    CloseAllOrders();
    fridayCloseExecuted = true;
    return;
    }
    if(TimeDayOfWeek(currentTime) != 5)
    fridayCloseExecuted = false;
    }

    // Spread filter
    int currentSpread = MarketInfo(Symbol(), MODE_SPREAD);
    if(currentSpread > MaxSpread)
    {
    Comment("Spread too high: ", currentSpread);
    return;
    }

    // New bar logic (H1)
    if(Time[0] == lastBarTime)
    return;
    lastBarTime = Time[0];

    // Manage existing position
    int posCount = CountPositions();
    if(posCount > 0)
    {
    double atr = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
    if(atr > 0) ManageTrailingStop(atr);
    return;
    }

    // Calculate indicators on closed bar
    double fastEMA = iMA(Symbol(), PERIOD_H1, FastEMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 1);
    double slowEMA = iMA(Symbol(), PERIOD_H1, SlowEMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 1);
    double fastEMAPrev = iMA(Symbol(), PERIOD_H1, FastEMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 2);
    double slowEMAPrev = iMA(Symbol(), PERIOD_H1, SlowEMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 2);
    double rsi = iRSI(Symbol(), PERIOD_H1, RSIPeriod, PRICE_CLOSE, 1);
    double atr = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);

    if(atr <= 0) atr = avgATR;

    // Volatility filter - skip if ATR is too high relative to average
    if(atr > avgATR     1.8)
    {
    Comment("Volatility too high, waiting for cooldown.");
    return;
    }

    // Update rolling average ATR
    avgATR = (avgATR 0.95) + (atr 0.05);

    int cmd = -1;
    double sl = 0, tp = 0;
    double ask = Ask;
    double bid = Bid;

    // Long condition: bullish EMA crossover + RSI above 50
    if(fastEMAPrev <= slowEMAPrev && fastEMA > slowEMA && rsi > 50)
    {
    cmd = OP_BUY;
    sl = bid - (atr ATRStopMultiplier);
    tp = bid + (atr     ATRTakeMultiplier);
    }
    // Short condition: bearish EMA crossover + RSI below 50
    else if(fastEMAPrev >= slowEMAPrev && fastEMA < slowEMA && rsi < 50)
    {
    cmd = OP_SELL;
    sl = ask + (atr ATRStopMultiplier);
    tp = ask - (atr     ATRTakeMultiplier);
    }

    if(cmd != -1)
    {
    int ticket = OrderSend(Symbol(), cmd, LotSize, (cmd==OP_BUY?ask:bid), 3, sl, tp, "Gold Horizon", MagicNumber, 0, clrNONE);
    if(ticket < 0)
    {
    Print("OrderSend failed: ", GetLastError());
    }
    }
    }

    //+------------------------------------------------------------------+
    //| Count open positions with this MagicNumber |
    //+------------------------------------------------------------------+
    int CountPositions()
    {
    int count = 0;
    for(int i = OrdersTotal()-1; i >= 0; i--)
    {
    if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
    {
    if(OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber)
    count++;
    }
    }
    return count;
    }

    //+------------------------------------------------------------------+
    //| Close all orders for this symbol and magic |
    //+------------------------------------------------------------------+
    void CloseAllOrders()
    {
    for(int i = OrdersTotal()-1; i >= 0; i--)
    {
    if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
    {
    if(OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber)
    {
    if(OrderType() == OP_BUY)
    OrderClose(OrderTicket(), OrderLots(), Bid, 3, clrNONE);
    else if(OrderType() == OP_SELL)
    OrderClose(OrderTicket(), OrderLots(), Ask, 3, clrNONE);
    }
    }
    }
    }
    //+------------------------------------------------------------------+
    ``
    Reference: Original MQL4 code incorporating modern risk management practices including cooldown periods, spread protection, and ATR-based dynamic stops.

    Disclaimer: Forex and Gold trading involves substantial risk. This EA is provided as-is without any guarantee of profit. Test thoroughly on a demo account before live trading. Past performance does not guarantee future results.