Summary: Gold Momentum Flow EA is an MQL4 expert advisor for XAUUSD. It uses dual EMA crossover with RSI momentum confirmation and ATR-based stop loss. Suitable for H1 timeframe.
Gold Momentum Flow EA is designed specifically for gold (XAUUSD) to capture medium-term trend movements while managing gold's characteristic volatility spikes. The EA combines dual EMA crossover (fast EMA 12, slow EMA 26) for trend direction, RSI(14) momentum filter to avoid low-momentum fakeouts, and ATR-based dynamic stop loss that widens during high volatility. Each trade includes a trailing stop to lock in profits as the trend develops.
Recommended Timeframe: H1
Trading Logic:
1. Trend Detection: Fast EMA12 crosses above Slow EMA26 for uptrend; opposite for downtrend.
2. Momentum Filter: RSI(14) must be above 50 for long entries or below 50 for short entries.
3. Entry Confirmation: Wait for bar close after crossover with momentum confirmation.
4. Risk Management: Dynamic stop loss at 1.5x ATR, take profit at 3x ATR with trailing stop activation after 1x ATR profit.
```mql4
//+------------------------------------------------------------------+
//| GoldMomentumFlowEA.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 per trade)
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 dynamic 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 start in ATR multiples
input double TrailingStep = 0.5; // Trailing step in ATR multiples
input int MagicNumber = 202415; // Unique EA identifier
input int MaxSpread = 30; // Maximum allowed spread in points
input double DailyLossLimit = 5.0; // Daily loss limit as percentage of balance
input bool UseFridayClose = true; // Close trades before Friday 20:00 GMT
//--- global variables
double dailyStartBalance = 0;
datetime lastBarTime = 0;
bool fridayCloseExecuted = false;
double currentTrailingStop = 0;
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
dailyStartBalance = AccountBalance();
lastBarTime = 0;
fridayCloseExecuted = false;
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
Comment("");
}
//+------------------------------------------------------------------+
//| 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;
}
// Friday close before weekend
if(UseFridayClose && !fridayCloseExecuted)
{
datetime currentTime = TimeCurrent();
if(TimeDayOfWeek(currentTime) == 5 && TimeHour(currentTime) >= 20)
{
CloseAllOrders();
fridayCloseExecuted = true;
return;
}
if(TimeDayOfWeek(currentTime) != 5)
fridayCloseExecuted = false;
}
// Spread filter
if(MarketInfo(Symbol(), MODE_SPREAD) > MaxSpread)
{
Comment("Spread too high: ", MarketInfo(Symbol(), MODE_SPREAD));
return;
}
// New bar logic (H1)
if(Time[0] == lastBarTime)
return;
lastBarTime = Time[0];
// Check existing position
int posCount = CountPositions();
if(posCount > 0)
{
ManageTrailingStop();
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 = 200 * Point;
int cmd = -1;
double sl = 0, tp = 0;
double ask = Ask;
double bid = Bid;
// Bullish crossover: fast EMA crosses above slow EMA, RSI > 50 for momentum
if(fastEMAPrev <= slowEMAPrev && fastEMA > slowEMA && rsi > 50)
{
cmd = OP_BUY;
sl = bid - (atr * ATRStopMultiplier);
tp = bid + (atr * ATRTakeMultiplier);
}
// Bearish crossover: fast EMA crosses below slow EMA, RSI < 50 for momentum
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 Momentum Flow", MagicNumber, 0, clrNONE);
if(ticket < 0)
Print("OrderSend failed: ", GetLastError());
else
currentTrailingStop = 0;
}
}
//+------------------------------------------------------------------+
//| Manage trailing stop for open position |
//+------------------------------------------------------------------+
void ManageTrailingStop()
{
for(int i = OrdersTotal()-1; i >= 0; i--)
{
if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
{
if(OrderSymbol() == Symbol() && OrderMagicNumber() == MagicNumber)
{
double atr = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
if(atr <= 0) atr = 200 * Point;
double newSL = 0;
double trailTrigger = atr * TrailingStart;
if(OrderType() == OP_BUY)
{
double profitPoints = (Bid - OrderOpenPrice()) / Point;
if(profitPoints >= trailTrigger / Point)
{
newSL = Bid - (atr * TrailingStep);
if(newSL > OrderStopLoss())
{
if(OrderModify(OrderTicket(), OrderOpenPrice(), newSL, OrderTakeProfit(), 0, clrNONE))
Print("Trailing stop updated for BUY #", OrderTicket());
}
}
}
else if(OrderType() == OP_SELL)
{
double profitPoints = (OrderOpenPrice() - Ask) / Point;
if(profitPoints >= trailTrigger / Point)
{
newSL = Ask + (atr * TrailingStep);
if(newSL < OrderStopLoss() || OrderStopLoss() == 0)
{
if(OrderModify(OrderTicket(), OrderOpenPrice(), newSL, OrderTakeProfit(), 0, clrNONE))
Print("Trailing stop updated for SELL #", OrderTicket());
}
}
}
break;
}
}
}
}
//+------------------------------------------------------------------+
//| 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 for educational purposes.
Disclaimer: Trading Forex and Gold involves substantial risk of loss. This EA is provided as-is without any warranty of profitability. Always test on a demo account before live deployment. Past performance does not indicate future results.