Summary: Gold Horizon EA is an MQL4 expert advisor for XAUUSD that uses multi-timeframe EMA trend confirmation, ATR-based dynamic stops, and daily loss limits. Suitable for H1 timeframe stable operation.
Gold Horizon EA is designed specifically for gold (XAUUSD) to achieve stable, low-risk operation by focusing on trend alignment and volatility awareness. Unlike aggressive grid or martingale systems, this EA prioritizes signal quality over trade frequency. It uses multi-timeframe trend confirmation (H1 and H4 EMAs) to ensure alignment with the broader market direction. An ATR-based volatility filter prevents entries during excessive market noise, while a dynamic ATR stop loss adapts to current gold volatility. The EA includes daily equity protection, spread control, and Friday close mechanisms to safeguard against weekend gaps.
Recommended Timeframe: H1
Trading Logic:
1. Multi-Timeframe Trend: H4 EMA(50) determines the primary trend direction. H1 must trade in the same direction.
2. Momentum Filter: RSI(14) must confirm momentum (>50 for long, <50 for short).
3. Entry Trigger: Price retraces to H1 EMA(20) and closes beyond it in the trend direction.
4. Volatility Guard: Current ATR(14) must not exceed 1.8x the 20-period average ATR.
5. Risk Management: Dynamic stop loss at 1.5x ATR, take profit at 3x ATR. Trailing stop activates after 1x ATR profit.
```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 for XAUUSD)
input int H1TrendMAPeriod = 50; // H1 EMA period for trend filter
input int H4TrendMAPeriod = 50; // H4 EMA period for primary trend
input int EntryMAPeriod = 20; // EMA period for entry pullback
input int RSIPeriod = 14; // RSI period for momentum filter
input int ATRPeriod = 14; // ATR period for volatility management
input double ATRMaxMultiplier = 1.8; // Max ATR multiplier (volatility guard)
input double ATRStopMultiplier = 1.5; // Stop loss as multiple of ATR
input double ATRTakeMultiplier = 3.0; // Take profit as multiple of ATR
input double TrailingStartATR = 1.0; // Trailing activates at profit (x ATR)
input double TrailingStepATR = 0.5; // Trailing step (x ATR)
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
input bool UseFridayClose = true; // Close trades before Friday 21:00 GMT
//--- global variables
double dailyStartBalance = 0;
datetime lastBarTime = 0;
bool fridayCloseExecuted = false;
double avgATR = 0;
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
dailyStartBalance = AccountBalance();
lastBarTime = 0;
fridayCloseExecuted = false;
avgATR = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
if(avgATR <= 0) avgATR = 250 * Point;
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
Comment("");
}
//+------------------------------------------------------------------+
//| Get higher timeframe trend direction (H4) |
//+------------------------------------------------------------------+
int GetHTFTrend()
{
double closeH4 = iClose(Symbol(), PERIOD_H4, 1);
double emaH4 = iMA(Symbol(), PERIOD_H4, H4TrendMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 1);
if(closeH4 > emaH4) return 1; // Bullish
if(closeH4 < emaH4) return -1; // Bearish
return 0;
}
//+------------------------------------------------------------------+
//| Check pullback entry condition |
//+------------------------------------------------------------------+
bool CheckPullbackEntry(int direction, double &entryPrice, double &sl, double &tp, double atr)
{
double emaFast = iMA(Symbol(), PERIOD_H1, EntryMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 1);
double close1 = iClose(Symbol(), PERIOD_H1, 1);
double open1 = iOpen(Symbol(), PERIOD_H1, 1);
if(direction == 1) // Long: price pulled back to EMA20, then closed above
{
double low1 = iLow(Symbol(), PERIOD_H1, 1);
bool pulledToEMA = (low1 <= emaFast && close1 > emaFast);
bool bullishClose = (close1 > open1);
if(pulledToEMA && bullishClose)
{
entryPrice = Ask;
sl = entryPrice - (atr * ATRStopMultiplier);
tp = entryPrice + (atr * ATRTakeMultiplier);
return true;
}
}
else if(direction == -1) // Short: price pulled back to EMA20, then closed below
{
double high1 = iHigh(Symbol(), PERIOD_H1, 1);
bool pulledToEMA = (high1 >= emaFast && close1 < emaFast);
bool bearishClose = (close1 < open1);
if(pulledToEMA && bearishClose)
{
entryPrice = Bid;
sl = entryPrice + (atr * ATRStopMultiplier);
tp = entryPrice - (atr * ATRTakeMultiplier);
return true;
}
}
return false;
}
//+------------------------------------------------------------------+
//| Manage trailing stop for open position |
//+------------------------------------------------------------------+
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 activate = atr * TrailingStartATR;
double step = atr * TrailingStepATR;
double newSL = 0;
if(OrderType() == OP_BUY)
{
double profit = Bid - OrderOpenPrice();
if(profit >= activate)
{
newSL = Bid - step;
if(newSL > OrderStopLoss())
OrderModify(OrderTicket(), OrderOpenPrice(), newSL, OrderTakeProfit(), 0, clrNONE);
}
}
else if(OrderType() == OP_SELL)
{
double profit = OrderOpenPrice() - Ask;
if(profit >= activate)
{
newSL = Ask + step;
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;
}
// 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;
}
// 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];
// Manage existing position
int posCount = CountPositions();
if(posCount > 0)
{
double atr = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
if(atr > 0) ManageTrailingStop(atr);
return;
}
// Get indicators
double close1 = iClose(Symbol(), PERIOD_H1, 1);
double emaH1 = iMA(Symbol(), PERIOD_H1, H1TrendMAPeriod, 0, MODE_EMA, PRICE_CLOSE, 1);
double rsi = iRSI(Symbol(), PERIOD_H1, RSIPeriod, PRICE_CLOSE, 1);
double atr = iATR(Symbol(), PERIOD_H1, ATRPeriod, 1);
// Update average ATR for volatility filter
if(atr > 0) avgATR = (avgATR * 0.95) + (atr * 0.05);
// Volatility guard
if(atr > avgATR * ATRMaxMultiplier && avgATR > 0)
{
Comment("Volatility too high. ATR: ", atr);
return;
}
// Get H4 trend direction
int h4Trend = GetHTFTrend();
if(h4Trend == 0)
{
Comment("No clear H4 trend direction");
return;
}
// H1 trend alignment check
bool h1Bullish = (close1 > emaH1);
bool h1Bearish = (close1 < emaH1);
int allowedDirection = 0;
if(h4Trend == 1 && h1Bullish) allowedDirection = 1;
else if(h4Trend == -1 && h1Bearish) allowedDirection = -1;
if(allowedDirection == 0)
{
Comment("H1 and H4 trends not aligned");
return;
}
// RSI momentum filter
if(allowedDirection == 1 && rsi < 50)
{
Comment("RSI below 50, no bullish momentum");
return;
}
if(allowedDirection == -1 && rsi > 50)
{
Comment("RSI above 50, no bearish momentum");
return;
}
// Check pullback entry
double entryPrice = 0, sl = 0, tp = 0;
if(CheckPullbackEntry(allowedDirection, entryPrice, sl, tp, atr))
{
int cmd = (allowedDirection == 1) ? OP_BUY : OP_SELL;
int ticket = OrderSend(Symbol(), cmd, LotSize, entryPrice, 5, sl, tp, "Gold Horizon", MagicNumber, 0, clrNONE);
if(ticket < 0)
Print("OrderSend failed: ", GetLastError());
else
Print("Order opened successfully. Direction: ", cmd==OP_BUY?"BUY":"SELL");
}
}
//+------------------------------------------------------------------+
//| 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: Original MQL4 code inspired by structural analysis from Gold Horizon EA concept.
Disclaimer: Gold trading involves significant risk due to high volatility. This EA is provided as-is without any guarantee of profit. Test thoroughly on a demo account before live deployment. Past performance does not guarantee future results.