King of Gold EA V1.10 – Free MT4 Gold Scalping EA - MQL5 Software

Introduction

Trading gold (XAUUSD) has long been a challenge for retail traders. High volatility can lead to big opportunities, but without a precise strategy you can end up with costly mistakes. King of Gold EA V1.10 MT4 is here to change that. This free gold scalper EA leverages robust algorithms and advanced risk management to help you capture small but consistent gains on the MetaTrader 4 platform. Developed and back-tested by YoForex’s expert team, it’s a battle-tested solution designed for traders seeking consistency and reliability without any upfront cost. Whether you’re a novice or a seasoned pro, this EA takes the guesswork out of gold trading by automating entries, exits, and money management so you can focus on monitoring performance and adjusting for market conditions.

Overview

King of Gold EA V1.10 MT4 is a cutting-edge MetaTrader 4 expert advisor designed exclusively for the XAUUSD pair. This gold scalper EA employs a hybrid strategy that combines momentum indicators and micro-trend analysis to pinpoint optimal entry and exit points within short timeframes. The EA uses a proprietary blend of moving averages, volatility filters, and price action triggers, ensuring that trades are opened only when market conditions meet strict criteria. Fully compatible with any ECN broker, King of Gold EA V1.10 MT4 automatically adjusts its parameters based on broker spreads and account leverage. It supports four- and five-digit quotes and adapts trade size dynamically according to your risk settings.

In addition to its core scalping engine, King of Gold EA V1.10 MT4 includes a built-in volatility dashboard and spread analyzer. Traders can view real-time ATR values, average spread over the last 24 hours, and executed trade logs directly on the chart. A user-friendly control panel lets you toggle features on the fly, such as the news filter, session limits, and trailing stop options. All default settings are the result of extensive historical simulations, covering trending, choppy, and crisis market phases from 2016 to 2021.

Strategy Breakdown

The core strategy of King of Gold EA V1.10 MT4 revolves around capturing small, frequent price movements in the gold market. By focusing on the M5 and M15 timeframes, the EA seeks to exploit intraday volatility spikes without exposing the account to large directional risks. Key components of the strategy include:

• Multi-Timeframe Confirmation: Combines signals from higher timeframes (H1) with lower-timeframe patterns (M5) to avoid false breakouts.
• Adaptive Signal Filter: Uses Average True Range (ATR) and Bollinger Bands to filter out low-volatility periods, ensuring the EA only trades when there’s enough momentum.
• Price Action Entry: Identifies micro-trend continuations with candlestick pattern recognition, allowing the EA to enter trades at precise moments.
• Dynamic Stop Loss & Take Profit: Calculates SL/TP levels based on real-time volatility metrics, targeting 10–15 pips per trade while capping downside risk.
• Money Management System: Employs a fixed fractional risk model that adjusts lot sizes according to account balance and maximum drawdown limits.
• Session Controls: Define custom trading windows to avoid illiquid overnight or low-volume holiday periods.
• News and Event Filter: Automatically pauses trading around major economic releases to reduce unpredictability.

This hybrid approach reduces over-trading and ensures that each position aligns with the EA’s strict risk management rules. The result is a gold scalper EA that delivers steady performance under varying market conditions.

Key Features

• 1%–2% Daily Profit Targets: Engineered to achieve consistent daily returns without overexposure.
• Max Drawdown 5%: Strict drawdown control to protect capital during adverse market swings.
• No Martingale Strategy: Avoids exponential lot size increases, mitigating the risk of catastrophic losses.
• Up to 100 Trades per Day: Executes dozens of micro-scalping trades in high-volatility sessions.
• Time-Based Trading Windows: Configurable sessions to avoid illiquid periods and major news.
• Five-Digit & Four-Digit Quote Support: Automatically detects quote formats and adjusts TP/SL scales.
• Dynamic Spread Filter: Skips trading when spreads exceed a user-defined threshold, preventing slippage.
• ECN Broker Compatibility: Optimized for raw spread accounts and low-latency Virtual Private Servers.
• Built-In News Filter: Halts trading before and after major economic releases to reduce unpredictability.
• Break-Even & Trailing Stop: Moves stop loss to break-even once a trade hits a predefined profit, then trails price to lock in gains.
• Automated Risk Management: Configures lot size based on risk-per-trade percentage, ensuring consistent exposure.
• User-Friendly Dashboard: On-screen display shows live metrics such as daily profit, open trades, and active filters.

King of Gold EA V1.10 MT4’s extensive feature set provides flexibility and control, empowering traders to tailor settings to their individual risk preferences and trading style.

Backtest Results & Proof

Extensive backtests were conducted over a five-year sample period from January 2016 to December 2021 using high-quality tick data for XAUUSD. The EA delivered an impressive equity curve with a compounded annual growth rate (CAGR) of 45.2% and a maximum drawdown of 4.8%. Over 12,000 trades were executed on a $10,000 account with a win rate of 62%. Average profit per trade stood at 0.13%, while average loss per trade never exceeded 0.05%. Commission and slippage were modeled to reflect real ECN conditions, ensuring that backtest assumptions mirror live environments.

Qualitative analysis of the backtest equity curve shows minimal equity stagnation, even during highly volatile news events. The detailed drawdown chart confirms that the EA’s risk controls effectively limit downside exposure. All backtests used default settings, demonstrating that no additional optimization is required for reliable out-of-the-box performance.

Live Market Performance

Since its public release, King of Gold EA V1.10 MT4 has been running on live accounts with reputable ECN brokers. In a six-month forward test from January 2022 to June 2022, the EA achieved a net profit of 28.3% with a maximum drawdown of 4.1%. Live results closely matched backtested metrics, affirming the EA’s real-world effectiveness. Traders in our Telegram group have praised its consistency, with one user noting, “I saw daily profits of 1.5% on average and no major drawdowns—even during FOMC days.” Ongoing community feedback is used to fine-tune upcoming updates, ensuring that this MT4 expert advisor adapts to shifting market dynamics.

Optimization Tips

While default parameters are optimized for most traders, advanced users can fine-tune the EA to match their personal risk profile:

Adjust ATR Period: Increasing the ATR lookback period can reduce the number of signals, focusing on stronger volatility spikes.
Modify Session Windows: Limit trading to London and New York overlap hours for maximum liquidity.
Tweak Spread Threshold: Lower the max spread filter during quiet sessions to avoid hidden fees.
Enable/Disable Break-Even: Test with and without break-even activation to balance lock-in profits against trailing potential.
Session-Based Volume Control: Use smaller lot multipliers during Asian hours and larger lot sizes during active sessions.

Experiment on a demo account before applying changes to live funds.

Installation & Configuration

Getting started with King of Gold EA V1.10 MT4 is quick and simple:

Download EA: Obtain the KingOfGold_EA_v110.ex4 file from MQL5.software.
Copy to Experts Folder: Place the file in the MQL4/Experts directory of your MetaTrader 4 installation.
Restart MT4: Close and reopen your MetaTrader 4 platform to register the new EA.
Attach to Chart: Drag and drop King of Gold EA V1.10 MT4 onto an XAUUSD M5 chart.
Enable AutoTrading: Click the AutoTrading button in MT4 to activate the EA.
Set Parameters:
- Risk Per Trade: 1% (default)
- Max Spread: 3 (default)
- Trading Sessions: 00:00–23:59 or customize to your timezone
- News Filter: Enabled
- Trailing Stop: 5 pips initial, 3 pips step
Verify Dashboard: Confirm that the on-screen display shows live metrics, including daily profit, open trades, and active filters.

Recommended VPS: Use a low-latency provider located near major liquidity centers. Ensure VPS uptime exceeds 99.9% and allocate at least 512 MB RAM to run the EA and indicators smoothly.