GOLDEN TREE GUIDE – Analytics & Forecasts – 31 January 2022

1. Introduction

Welcome to my guide for the expert-advisor Golden Tree (https://www.mql5.com/en/market/product/76681).

Golden Tree is an EA designed for Gold (XAUUSD), so it is not recommended to use it elsewhere. The timeframe has no real impact on live trading but in order to have better test quality, the recommended timeframe is M1.

This EA requires an Hedge account (not working on netting account), leverage 1:500 recommended.

Golden Tree uses homemade indicators that differentiate it from anything else on the market. Its trading style makes it unique.

It is a risky scalper, which uses grid and martingale in an aggressive way. The robot is composed of independent strategies that have since 2010 years on gold (XAUUSD) based on Tickstory’s data. (Guide to install tickstory data: https://tickstory.com/how-to-import-tick-data-into-metatrader-5/)

As each cycle is independent, it has its own signal, its own grid, its own TP and SL. It is possible to have several at the same time. You can therefore define a maximum number of simultaneous cycles.

For small traders, it is even possible to define a number of active cycles depending on their current balance.
In order to manage risk more simply, it is possible to activate an integrated SL for each pattern or to use an SL based on account equity.

One cycle stoploss represents around $100 for 0.01 lot. (based on ICMarkets pair XAUUSD)

2. Inputs

Let’s see the input list:

Golden Tree Settings

  • Initial lot: Set the initial lot for a cycle.
  • Maximum number of active cycle: Set the strict maximum of simultaneous active cycles.
  • Use cycle stoploss: If active, this will use the SL built into the cycle. Otherwise the EA will continue to open orders.

Autolot Settings

  • Balance per initial lot [0=off]: Define the initial lot of a cycle based on the balance. Set to 0 to disable this feature.

For example, if initial lot = 0.01, Balance per initial lot = 1000, Maximum initial lot = 0.25.

Initial Lot Balance per
initial lot
Current Balance Current Initial Lot
0.01 1000 750 0.01
0.01 1000 1000 0.01
0.01 1000 1550 0.01
0.01 1000 2000 0.02
0.01 1000 2550 0.02
0.01 1000 3000 0.03
0.01 1000 7550 0.07
0.01 1000 25050 0.25
0.01 1000 32000 0.25
  • Balance per cycle [0=off]: Set the maximum active cycle based on the balance. Set to 0 to disable this feature.

For example, if number of cycle per balance = 100, Maximum number of active cycle = 10.

Balance per cycle Current Balance Current Active Strategy
200 195 1
200 200 1
200 355 1
200 400 2
200 455 2
200 800 4
200 1955 9
200 2025 10
200 4337 10
  • Maximum initial lot: Define the maximum initial lot of a cycle.

Global Settings

  • Maximum spread allowed [0=off]: Set the maximum spread allowed to open a cycle. Set to 0 to disable this feature.
  • Account type: Set your account type to allow EA to better calculate TPs.
ECN Low spread & commission
Standard Larger spread & no commission
  • Display information on chart: Show some information on chart. Disabling this will improve the speed of the tests.
  • Golden Tree chart color: Change the color of the chart in a more golden way.
  • Magic Number: Set the magic number. The magic number is very important. The EA will only interact with the orders that have this magic number. You have to use a different magic number than other active EA. I recommend to always use the same magic number for Golden Tree.

Security Settings

  • Equity TP: Stop the EA if the equity exceeds this limit [0=off]: Set an equity TP. Set to 0 to disable this feature. For example, if you start with a 300 usd balance, you can set a target of 500 usd. If the equity goes above 500 usd, the EA will close all orders and stop the trading until you change this limit or withdraw your balance.
  • Equity SL: Stop the EA if the equity falls this limit [0=off]: Set an equity SL. Set to 0 to disable this feature. For example, if you start with a 300 usd balance, you can set a stoploss of 100 usd. If the equity goes below 100 usd, the EA will close all orders and stop the trading until you change this limit or adjust your balance.

3. Testing & Risks

Golden Tree has been build on tickstory.com data. If you have never used tickstory, here is a quick tutorial to install it and have the best quality data https://tickstory.com/how-to-import-tick-data-into-metatrader-5/.

My test results may differ from yours since I used high quality data from tickstory to build this EA. There may also be data differences between Tickstory and your broker.

Golden Tree uses past data to anticipate a high success rate, however the outcome is not guaranteed. Always remember that the market is unpredictable.

Even though the EA is stable, the world we live in now can bring many surprises, especially with rising inflation and interest rates.

It is important to remember that this is a risky expert-advisor because it uses grid and martingales strategies.

It will obviously hit a pattern stoploss one day because nobody can predict the market.
If many cycles are opened against the trend, it will lead to a significant drawdown.
It is important to understand and manage your risk well.

On Golden Tree, there are several ways to manage your risk:

  1. Use the equity SL to maintain a safety line in case of a losing scenario.
  2. Use the Stoploss patterns to cut strategies when they go outside the bounds of the past.
  3. Use a number of strategy and initial lot suitable to the balance.

Based on 1:500 leverage, I recommend at least $200 per strategy for an initial lot of 0.01.

4. Settings

There are many ways to manage your risk. I’ll summarize it all in a table:

Very high risk High risk Medium risk Low risk
Minimum Starting balance 100 200 300 500
Initial lot 0.01 0.01 0.01 0.01
Balance per initial lot 300 1000 3000 10000
Balance per cycle 100 200 300 500
Maximum initial lot 4 2 1 0.5
Maximum number of active cycle 3 5 10 20

You can adjust your risk by yourself or download setfiles at the bottom of this blog post.

It is important to take into account the number of orders and the maximum volume allowed by your broker.

These values ​​are based on ICMarkets properties, 200 lots maximum and 200 orders.

5. Broker

I have been working with ICMarkets for several years and it is by using their data that I develop my EAs. That’s why I recommend this broker.

What people think about ???????????? ? They have 4.9/5⭐ on Trustpilot for ~20,000 reviews.

Why do I use ???????????? ?

– Zero spread on major pairs
– Fast trade execution, ideal for an Expert Advisor
– Effective support that answers my questions in 2 minutes
– Simple deposit & withdrawal
– Access to the 1:500 leverage

You can try on a demo account for free.
Support my work by using this link: https://www.icmarkets.com/?camp=56886

If you already have an ICMarkets account, you can connect it to https://www.cashbackforex.com in order to have a commission discount like I have on my signal account. It just takes 2 minutes to setup.

6. VPS

I use the same Windows VPS for more than 2 years now for my personal EAs & my signals. They offer a complete execution (for ICMarkets select Piscataway server).

It is the best price/performance ratio I have found so far. You can install multiple metatraders on windows.

Give it a try: myx.gg/vps

7. Conclusion

Golden Tree took me several months of work. If you like this kind of product, don’t hesitate to leave a review.

If you have a question, feel free to send me a private message on MQL5 or join my disc https://myx.gg/discord.

Have a good day,

Arthur

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