Gold Scalper PRO v1.3 Review

How to Backtest Gold Scalper PRO

If you wish to back-test Gold Scalper PRO, first you should download history from the MetaTrader history center: click Tools -> History Center, or press the "F2" key on the keyboard. In the list, find the XAUUSD (GOLD) currency pair and double click to expand it. Click "1 Minute (M1)" and then click "Download". When the download process is finished, double click on "5 Minutes (M5)” and "15 Minutes (M15)" to convert the M1 data (repeat this for the rest of the time frames). Close the "History Center" window. Restart the MT4 terminal in any case. Check the below image!

To open the "Strategy Tester" window click the "Strategy Tester" button on the MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window chose Gold Scalper PRO, chose XAUUSD currency pair, chose M15 timeframe, and chose the method "Every tick ...", as shown below. Click "Start" to start the back-test.

The back-test by "Every tick" is the most precise, but it is prolonged. If you wish to save time you can run the back-test on the M1 timeframe by the "Open price only ..." method and this will be correct too.

Gold Scalper PRO 99.9% Tick Data Quality Backtests

FXAutomater, the developers of Gold Scalper PRO have performed 99.9% quality tick data with real spread backtests, showing historical trading performance over previous periods of time, passing throughout different markets conditions. We should mention that certain system backtests can't be considered an indicator of the future trading performance of it but they can give a rough idea of how it could behave in the real money world.

Gold Scalper PRO v1.5 - XAUUSD 2004 to 2018 99.9% Modelling Quality Dukascopy Tick Data - Real (Variable) Spread - Risk 1.0

Backtest Summery View Full Backtest

Gold Scalper PRO v1.5 - XAUUSD 2004 to 2018 99.9% Modelling Quality Dukascopy Tick Data - Real (Variable) Spread - Fixed Lots 0.01

Backtest Summery View Full Backtest

It's unclear if the developer accounted for commissions, slippage, or swaps in his backtesting, factors making a major impact on any trading strategy results, especially small price movements scalping ones like that of Gold Scalper PRO.

Gold Scalper PRO Trading Strategy

• Advanced News Filter.
• Stealth mode.
• Advanced Time Management System.
• Email and Push Notification system.
• Friday Exit System.

Gold Scalper PRO includes a built-in Money Management System so the risk can be set in a percentage value to enable the EA to automatically calculate the needed lot size depending on that risk and the account free margin.

An Advanced News Filter is integrated into the EA so trading during the most important news and events can be avoided.

A precisely configurable Time Management System is also integrated so that the Gold Scalper PRO robot will be active to trade only during certain hours, also on individual weekdays.

A Friday Exit system is included in the Gold Scalper PRO, so all the trades can be closed on Friday Evening at the preset time after which trading will be stopped.

Gold Scalper PRO can also send emails and push notifications to the trader's mobile phone to inform him about its trades statuses.

A Manual Trading system option is available in the EA and it allows the trader to open trades manually to be managed automatically by the Gold Scalper PRO. Two buttons are printed by the Gold Scalper PRO on the chart for that purpose, BUY and SELL buttons, if their color turns dark gray, this means that manual trading is denied by the EA due to the current market conditions or the existence of already opened trades.

Gold Scalper PRO Metatrader Parameters

==== Risk Management ====

• FixedLots - fixed trading volume (works if AutoMM1=0)
• AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).

==== General Settings ====

• Magic - magic number - it is extremely important to keep this different for all robots.
• EA_Coment - text which will be added as a comment to each trade opened by GOLD Scalper PRO
• MaxSpread - maximal allowed spread for position opening.
• Slippage - maximal allowed slippage for position opening.
• StealthMode - true/false - conceal stop loss and take profit levels in program logic making them invisible to brokers. If you use this mode, the stop loss and take profit orders are not located in the trading server.
• CloseOnlyOnProfit - true/false - when this mode is enabled, positions will be closed only on profit or where stop loss is reached. When CloseOnlyOnProfit=false /default/, positions will be closed according to the system logic.
• NFA - true/false - set "true" if your broker is NFA regulated.
• No_Hedge - true/false - set "true" if you wish to cancel all hedge trades.
• EmergencyStopDist - second level of protection, when StealthMode is used. At values greater than zero, it activates a second level of true (Emergency) StopLoss on a greater distance than the virtual hidden StopLoss is located. In such case, the value of the new emergency StopLoss will be the sum of the EmergencyStopDist value plus the value of the hidden StopLoss.

==== TradingLogic Settings ====

• StopLoss - stop loss value
• TakeProfit - take profit value
• TREND_STR - relative impulse strength.
• Profit - the profit on which the position will be closed in case a short-term reversal pattern is detected.

==== Dynamic SL & TP ====

• Use_ATR_Profit - activates the ATR based exit profit algorithm.
• ATR_Profit_Factor - the ATR value multiplier for calculating the new take profit value.
• Use_ATR_Stop - activates the ATR based Stop Loss algorithm.
• ATR_SL_Factor - the ATR value multiplier for calculating the Stop Loss value.
• ATR_TF_SL - the timeframe on which the ATR indicator is calculated – default 1440 (D1).
• ATR_Per_SL - the period of the ATR indicator – default 1.

==== Notifications ====

• EMAIL_Notification - true/false - enable/disable email notifications.
• PUSH_Notification - true/false – enable/disable push notifications to mobile phones.

==== GMT Settings ====

• GMT_Offset - winter GMT offset of your broker.
• Calculate_DST - true/false - Set TRUE if the broker shifts the GMT offset with +1 in Summer. Set FALSE if broker use same GMT offset whole year.

==== News Filter Settings ====

The News Filter function is disabled by default. It is your personal choice whether, or not to activate this function. The News Filter function can increase the profit factor of the system and reduce the drawdown, but also can reduce the number of the trades and the total profit.

• Avoid_News - true/false – use or not the News Filter.
• Include_Medium_News - true/false – include, or not the medium impact news. The high impact news are included by default.
• Filter_NFP_FOMC_ONLY - true/false - when true the news filter will stop trading only during NFP and FOMC news.
• Wait_Before_News - the amount of minutes, before the news release, when the trading will be disabled.
• Wait_After_News - the amount of minutes, after the news release, when the trading will be enabled.

Configure MT4 terminal to allow WEB Requests to the following URL: http://www.fxautomater.com Only this way the news filter will be able to work properly!

You can find it in: MT4 terminal -> Tools -> Options -> Expert Advisors -> Allow WebRequests for listed URL (check the image below):

==== Time Management Settings ====

• AllowedHour_ForBacktest - this parameter is only for backtesting! It helps optimizing the Time Management system. Here is how you can use it. During the optimization set start value 0, end value 23 and the step 1. You can optimize only one day per optimization. For example you want to optimize the forbidden hours for Monday, you have to disable other days bay settings TuesdayTrading=false ... to ... FridayTrading=false. At the end of the optimization the tester will show you the best hours for trading on Monday. You can add the bad hours in the parameter MondayForbiddenHours separated by comma, for example: 1,4,6.
• MondayTrading - true/false - enable or disable trading on Monday
• MondayHoursForbidden - forbidden trading hours for Monday (applies only when MondayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set MondayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker's server time (the Market Watch)!
• TuesdayTrading - true/false - enable or disable trading on Tuesday
• TuesdayHoursForbidden - forbidden trading hours for Tuesday (applies only when TuesdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set TuesdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker's server time (the Market Watch)!
• WednesdayTrading - true/false - enable or disable trading on Wednesday
• WednesdayHoursForbidden - forbidden trading hours for Wednesday (applies only when WednesdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set WednesdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker's server time (the Market Watch)!
• ThursdayTrading - true/false - enable or disable trading on Thursday
• ThursdayHoursForbidden - forbidden trading hours for Thursday (applies only when ThursdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set ThursdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker's server time (the Market Watch)!
• FridayTrading - true/false - enable or disable trading on Friday
• FridayHoursForbidden - forbidden trading hours for Friday (applies only when FridayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set FridayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker's server time (the Market Watch)!
• SaturdayTrading and SundayTrading - true/false - enable or disable trading during Saturday and Sunday respectively. Due to big GMT offset, some brokers trade during weekends and for that reason we added these parameters as well.

Example: MondayHoursForbidden = "9,10,11,12,13,14,15,16";

==== Friday Exit ====

• FridayExit - true/false - if you wish to close all trades on Friday, you should use FridayExit=true.
• ExitHour - the robot will close all open positions at this hour on Friday.
• LastTradeHour - the robot can trade until the end of this hour on Friday (including this hour).

If you decide to use the "FridayExit" option you should set LastTradeHour and ExitHour several hours before the market closing of your broker on Friday.

==== Grid System ==== (optional)

• Grid_System - true/false - Enable/disable the Grid System of GOLD Scalper PRO.
• Grid_Max_Trades - maximal number of additional trades which will be opened when Grid System is enabled.
• Grid_Distance - the distance in pips between additional trades.
• Grid_Trade_By_Signal_Only - true/false - when its value is true the additional trades will be opened only by signal generated by a special indicator. When its value is false GOLD Scalper PRO will check only the distance between previous additional trade or initial trade. Most of the cases when Grid_Trade_By_Signal_Only=true the results are better.
• Grid_Signal_Period - possible values: 1, 5, 15, 30, 60, 240, 1440, 10080 and 43200. The values represent the official time frames in minutes M1, M5, M15, M30, H1, H4, D1, W1 and MN. This parameter is used when Grid_Trade_By_Signal_Only is true. It is the time frame of the special indicator used for opening of the additional trades.
• Grid_Risk_Multiplier - parameter for controlling the lot size of the additional trades. By default, the lot size is equal to the initial trade lot size (Grid_Risk_Multiplier=1). If the value of this parameter is lower than 1 then the additional trades will be opened with lower lot size than the initial trade. If the value is greater than 1 then the additional trades will be opened with greater lot size than the initial trade. Grid_Risk_Multiplier is a multiplier and you can easily calculate the additional trades lot size. For example, if the initial trade lot size is 0.1 lot and you set Grid_Risk_Multiplier=1.5 then additional trades lot size will be: 0.1 x 1.5 = 0.15 lots
• Grid_Martingale - true/false - when its value is true then GOLD Scalper PRO becomes martingale strategy. Every additional trade will have greater and greater lot size. This is very useful sometimes because it will help the EA to close the trades quickly.
• Grid_Take_Profit - take profit in pips when Grid System is enabled.
• Grid_Take_Profit_Money - take profit in money (your account base currency) when Grid System is enabled. This parameter is very useful in case Grid_Martingale is enabled.
• Grid_Stop_Loss - stop loss in pips when Grid System is enabled
• Grid_Stop_Loss_Money - stop loss in money (your account base currency) when Grid System is enable

GOLD Scalper PRO is equipped with GRID system which is optional and disabled by default. This system was developed by request of our users. The performance of GOLD Scalper PRO is good without the GRID System and you don't need to enable it at all. But if you want to use it then you may check the .set file available in the package!

Gold Scalper PRO Review Conclusion

Overall, the Gold Scalper PRO comes with some advanced features and is fully customizable. It trades infrequently that some traders who prefer more high-octane action may not prefer trading with it.

Enough professional trader can test other additional trading instruments while backtesting Gold Scalper PRO to elevate its trading frequency and create a personalized bespoke set files.

Many other forex robot reviews are published on MyFxBots and other alternative automated trading systems exist.