Gold Donkey MT5 – Detailed Description

1
Manual placing Buy/Sell orders, Enable/disable direction(s) for automated trading. Before any trade becomes to sent to market, a “CONFIRM” butten is shown up to avoid opening an order by mistake.
2
„SESS. ON“ enables automated opening the daily session. “SESS. 1nc” enables only the next following session. “SESS. OFF” disables automated trading.
3
Manual closing of all trades of the current running session. It does not influence any external placed trades manually or by other Experts.
4
Displays/hides the News Events Panel
5
Takeprofit in points for Drawdown Reduction orders. (Ref. to 6 and 7)
6
Level of Drawdown Reduction start order.
7
Enables/disables Drawdown Reduction feature.
8
Min. placement distance between recovery orders in points. This value can be changed onscreen according to the personally market suggestion.
9
“TrM” (Trail Profit Mode) sets the Recovery Scaling Mode: Recovery Lot size increasing by: Fixed (FX), Arithmetic (AR), Geometric (GM) or Geometric by Math-Power (GP)
10
“TrL” (Takeprofit Trail Start Level): The number of orders when starting taking profit.
11
Max. spread reset button.

IMPORTANT:

To use Auto GMT and/or News Filter, open Terminal-Tab “Tools->Expert Advisors->Allow WebRequest for listed URL:” and add (without Quotation marks):

“https://www.worldtimeserver.com/time-zones/utc“

“http//calendar.fxstreet.com/“[_ GENERAL PARAMETERS _]

Allow new Session

If set to “false”, only the current active market trades including possibly further upcoming reduction trades that belong to that session are regarded to be operated. After closing current orders, no more trading activity takes place until setting the parameter to “true”.

Play Sound on Profit Closing

Plays the sound similar to “ta-ta!”, if the session became closed.

Play Sound while Profit Trailing

Plays the sound similar to “tick-tick”, during Profit Trailing activity

Magicnumber

The use of an unique Magic Number ensures that other experts’ trades or manually opened trades cannot be influenced. On the other hand, care must be taken to ensure that other experts are not configured with the same Magic Number. If the value ‘0’ is set to the Magic Number, manually opened trades will be included!

Order Comment

Fills the Comment field of trades with the here preset text.

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[_____ MONEY MANAGEMENT _____]

Acc. Risk Mode

If Money Management is used, presets the type of how the available account amount becomes utilized. The safest setting is ‘Margin’. However, ‘Margin’ might not be always suitable on Leverage 1:30 accounts that are often used in the EU countries because of their legal restrictions.

Acc. Free Amount (%) to be used (All = 100%)

Limits the maximum amount of total balance to be used by this Expert.

Acc. Amount ($)/0.01 Lot for initial Order (0=disabled)

Sets the part of the account amount to be used per 0.01 Lot. The higher the amount per 0.01 Lot, the lower the trading risk. Example: Account deposit = $10.000, amount/0.01 = $3.000 results size of 0.03 Lot for each of the initial orders.

Acc. Equity min. available per 0.01 Lot

Sets the minimum required free equity to open an order according to the current recovery level. If less, the lot size of the next order becomes limited to 0.01 Lot.

Lotsize Min.

Minimum Lot size to open an order.

Lotsize Max.

Maximum Lot size to be opened a single order. Does not limit the total Lot size of running orders.

Spread Max.

Maximum of allowed spread to open or to operate trades. If exceeded, pending orders become closed and market positions are stopping possible active trailing profit operations for the time of big spread.

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[_ TRADING PARAMETERS _]

Enable Orders Long

If set to ‘false’, placement of Buy orders is disabled.

Enable Orders Short

If set to ‘false’, placement of Sell orders is disabled.

Manual Entry Trail Distance

Trailing distance for manually entered orders. If a trade was placed and the price moves somewhat further against the trading direction, the final entry price could be better than before.

Manual Entry Trail Step

Refers to Entry Trail Distance and defines the change on following the price movement.

Max. Orders (incl. initial Order)

If set to more than one, possible recovery orders might become opened according to the pattern. In that case only orders in the same direction of the initial order are placed.

Entry Stop Orders Distance Start

Sets the price action virtual initial orders distance. Price action will decide which direction of the initial order will become triggered.

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[_ CLOSING PARAMETERS _]

StopLoss (0=disabled)

Preset fixed Stoploss value in Points.

TakeProfit (0=disabled)

Preset fixed maximum Takeprofit value in Points.

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Profit Trail Mode

Sets the style of Trailing Profit mode. ‘Percentual’ follows the price with decreasing difference between the current price and the virtual Stoploss.

Profit Breakeven Activation

Activates the fixed profit set by ‘Profit Breakeven Activation Distance’. (See below)

Profit Breakeven Activation Distance

Sets the saved profit before starting Trailing by ‘Bulk Trailing Activation’. (See below)

Profit Bulk Trail Activation by ATR

Enables profit trail activation by ATR level instead of using the preset ‘Profit Bulk Trail Activation’ if the current ATR level exceeds that level.

Profit Bulk Trail %) saved @Bulk Trail Activation

Percentual start value of the current Profit Trailing that is protected yet. Depending of the preset Profit Trailing Mode.

Profit Bulk Trail to Price min. Distance

Minimum distance to the virtual Profit Trailing price in Points.

Profit Trail Step

The step in Point(s) to track the virtual Profit Trailing.

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Recovery Add Scaling Mode