Summary: Gold Momentum Guard EA is an MQL4 expert advisor for XAUUSD that uses momentum strength detection, RSI trend alignment, and ATR-based risk management. Designed for stable operation on M15.
Gold Momentum Guard EA is built specifically for gold (XAUUSD) with stability as the core priority. Based on research of institutional-grade gold EAs, the strategy focuses on high-probability entry filtering rather than aggressive grid or martingale systems . The EA combines momentum detection during high-liquidity sessions (London/New York overlap) with RSI trend alignment and ATR volatility confirmation .
Recommended Timeframe: M15
Trading Logic:
1. Session Filter: Only trades during London (08:00-16:00 GMT) and New York (13:00-21:00 GMT) sessions.
2. Momentum Detection: Compares current bar's momentum strength (body/wick ratio) against recent average.
3. Trend Alignment: RSI(14) above 50 for long entries, below 50 for short entries.
4. Volatility Guard: ATR(20) must be within normal range (0.8x to 1.5x of 50-period average ATR).
5. Risk Management: Fixed SL (250 points) and TP (450 points), max 1 trade at a time, daily loss limit 5%.
```mql4
//+------------------------------------------------------------------+
//| GoldMomentumGuardEA.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 for gold)
input int StopLossPoints = 250; // Stop loss in points (250 = 25$ for 0.01 lot)
input int TakeProfitPoints = 450; // Take profit in points (risk-reward ~1:1.8)
input int RSIPeriod = 14; // RSI period for trend alignment
input int ATRPeriod = 20; // ATR period for volatility detection
input double MinATRMultiplier = 0.8; // Minimum ATR multiplier (skip if too low volatility)
input double MaxATRMultiplier = 1.5; // Maximum ATR multiplier (skip if too high volatility)
input int MomentumLookback = 10; // Lookback bars for momentum baseline
input double MomentumMinRatio = 1.5; // Minimum momentum ratio (body/wick) to trigger entry
input int MagicNumber = 202419; // Unique EA identifier
input int MaxSpread = 35; // Maximum allowed spread in points
input double DailyLossLimit = 5.0; // Daily loss limit as percentage of balance
input bool UseSessionFilter = true; // Filter non-London/NY trading hours
input bool UseFridayClose = true; // Close trades before Friday 21:00 GMT
//--- global variables
double dailyStartBalance = 0;
datetime lastBarTime = 0;
bool fridayCloseExecuted = false;
double avgATR50 = 0;
double momentumBaseline = 0;
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
dailyStartBalance = AccountBalance();
lastBarTime = 0;
fridayCloseExecuted = false;
// Initialize ATR baseline
avgATR50 = iATR(Symbol(), PERIOD_M15, 50, 1);
if(avgATR50 <= 0) avgATR50 = 200 * Point;
// Initialize momentum baseline
double totalMomentum = 0;
for(int i = 1; i <= MomentumLookback; i++)
totalMomentum += GetMomentumRatio(i);
momentumBaseline = totalMomentum / MomentumLookback;
if(momentumBaseline <= 0) momentumBaseline = 1.0;
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
Comment("");
}
//+------------------------------------------------------------------+
//| Calculate momentum ratio (body / max wick) for a candle |
//+------------------------------------------------------------------+
double GetMomentumRatio(int shift)
{
double open = iOpen(Symbol(), PERIOD_M15, shift);
double close = iClose(Symbol(), PERIOD_M15, shift);
double high = iHigh(Symbol(), PERIOD_M15, shift);
double low = iLow(Symbol(), PERIOD_M15, shift);
double body = MathAbs(close - open);
double upperWick = high - MathMax(open, close);
double lowerWick = MathMin(open, close) - low;
double maxWick = MathMax(upperWick, lowerWick);
if(maxWick <= 0) return 1.0;
return body / maxWick;
}
//+------------------------------------------------------------------+
//| Check if current time is within allowed trading sessions |
//+------------------------------------------------------------------+
bool IsValidTradingSession()
{
datetime currentTime = TimeCurrent();
int hour = TimeHour(currentTime);
int minute = TimeMinute(currentTime);
int currentTimeMinutes = hour * 60 + minute;
// London session: 08:00 - 16:00 GMT (480 - 960 minutes)
// New York session: 13:00 - 21:00 GMT (780 - 1260 minutes)
bool isLondon = (currentTimeMinutes >= 480 && currentTimeMinutes < 960);
bool isNewYork = (currentTimeMinutes >= 780 && currentTimeMinutes < 1260);
return (isLondon || isNewYork);
}
//+------------------------------------------------------------------+
//| Check if current volatility is within acceptable range |
//+------------------------------------------------------------------+
bool IsValidVolatility()
{
double currentATR = iATR(Symbol(), PERIOD_M15, ATRPeriod, 1);
if(currentATR <= 0) return false;
// Update rolling average
avgATR50 = (avgATR50 * 0.98) + (currentATR * 0.02);
double minATR = avgATR50 * MinATRMultiplier;
double maxATR = avgATR50 * MaxATRMultiplier;
return (currentATR >= minATR && currentATR <= maxATR);
}
//+------------------------------------------------------------------+
//| Check momentum surge condition |
//+------------------------------------------------------------------+
bool IsMomentumSurge(int direction)
{
double currentMomentum = GetMomentumRatio(1);
if(currentMomentum <= 0) return false;
// Update baseline
momentumBaseline = (momentumBaseline * 0.9) + (currentMomentum * 0.1);
bool isStrongMomentum = (currentMomentum >= momentumBaseline * MomentumMinRatio);
if(!isStrongMomentum) return false;
double close1 = iClose(Symbol(), PERIOD_M15, 1);
double open1 = iOpen(Symbol(), PERIOD_M15, 1);
double high1 = iHigh(Symbol(), PERIOD_M15, 1);
double low1 = iLow(Symbol(), PERIOD_M15, 1);
if(direction == 1) // Bullish momentum
return (close1 > open1 && (high1 - close1) < (close1 - open1) * 0.5);
else if(direction == -1) // Bearish momentum
return (close1 < open1 && (low1 - close1) > (close1 - open1) * 0.5);
return false;
}
//+------------------------------------------------------------------+
//| 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) >= 21)
{
CloseAllOrders();
fridayCloseExecuted = true;
return;
}
if(TimeDayOfWeek(currentTime) != 5)
fridayCloseExecuted = false;
}
// Session filter
if(UseSessionFilter && !IsValidTradingSession())
{
Comment("Outside trading session");
return;
}
// Spread filter
if(MarketInfo(Symbol(), MODE_SPREAD) > MaxSpread)
{
Comment("Spread too high: ", MarketInfo(Symbol(), MODE_SPREAD));
return;
}
// New bar logic (M15)
if(Time[0] == lastBarTime)
return;
lastBarTime = Time[0];
// Check existing position
if(CountPositions() > 0)
return;
// Volatility filter
if(!IsValidVolatility())
{
Comment("Volatility out of range");
return;
}
// RSI for trend alignment
double rsi = iRSI(Symbol(), PERIOD_M15, RSIPeriod, PRICE_CLOSE, 1);
double close1 = iClose(Symbol(), PERIOD_M15, 1);
double ema50 = iMA(Symbol(), PERIOD_M15, 50, 0, MODE_EMA, PRICE_CLOSE, 1);
int cmd = -1;
double sl = 0, tp = 0;
double ask = Ask;
double bid = Bid;
// Long condition: RSI > 50 (bullish trend) and bullish momentum surge
if(rsi > 50 && close1 > ema50 && IsMomentumSurge(1))
{
cmd = OP_BUY;
sl = bid - StopLossPoints * Point;
tp = bid + TakeProfitPoints * Point;
}
// Short condition: RSI < 50 (bearish trend) and bearish momentum surge
else if(rsi < 50 && close1 < ema50 && IsMomentumSurge(-1))
{
cmd = OP_SELL;
sl = ask + StopLossPoints * Point;
tp = ask - TakeProfitPoints * Point;
}
if(cmd != -1)
{
int ticket = OrderSend(Symbol(), cmd, LotSize, (cmd==OP_BUY?ask:bid), 5, sl, tp, "Gold Momentum Guard", 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, 5, clrNONE);
else if(OrderType() == OP_SELL)
OrderClose(OrderTicket(), OrderLots(), Ask, 5, clrNONE);
}
}
}
}
//+------------------------------------------------------------------+
```
Reference: Inspired by institutional-grade EA designs including momentum filtering, session-based trading, and volatility-aware risk management .
Disclaimer: Gold trading involves significant risk. This EA is provided as-is for educational purposes. Always test on a demo account before live trading. Past performance does not guarantee future results.