Trading utilities for MetaTrader 5
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MetaTrader 5
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Overview
GoldScalper Script
Category: Utilities (Script)
Version: 1.00
Author: Alfred Jaftha
Product Type: MQL5 Script
Overview
GoldScalper Script is a one‑click pending‑order generator for XAUUSDm, designed to lock in potential scalping entries based on H1 trend confirmation and M1 Bollinger Bands/ATR levels. Unlike an EA, this script executes a single trade setup when launched, making it ideal for traders who prefer manual control combined with algorithmic precision.
Key Features
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Trend Confirmation: Uses H1 EMA50 and EMA200 crossover to determine bullish or bearish bias.
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Entry Calculation: Places a BUY_STOP above the upper Bollinger Band or a SELL_STOP below the lower Bollinger Band on M1, with configurable ATR‑based offset.
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Risk Management: Computes lot size based on equity and a user‑defined RiskPercent, with optional enforcement of minimum lot size.
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Stop‑Level Compliance: Ensures pending price, SL and TP respect broker’s minimum stop‑level distance.
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Customizable Parameters: All inputs (ATR period, multipliers, Bollinger settings, slippage, etc.) are exposed as script inputs.
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Single‑Run Execution: Launch once to place one pending order; clean up of indicators occurs automatically.
Inputs
| Parameter | Description | Default |
|---|---|---|
| RiskPercent | % of equity risked per trade | 1.0 |
| MaxLot | Maximum lot size | 0.1 |
| ATRPeriod | ATR look‑back period (M1) | 14 |
| SlMultiplier | SL distance = ATR * multiplier | 3.0 |
| TpMultiplier | TP distance = ATR * multiplier | 5.0 |
| BBPeriod | Bollinger Bands period (M1) | 20 |
| BBDeviation | Bollinger Bands deviation | 2.0 |
| OffsetMultiplier | Entry offset = ATR * multiplier | 0.5 |
| UseTrailing | (Script) Not used | – |
| TrailStartMultiplier | (Script) Not used | – |
| TrailStepMultiplier | (Script) Not used | – |
| PendingTimeout | Pending order expiration in seconds | 3600 |
| MagicNumber | Unique identifier for the order | 20250508 |
| MaxSlippagePoints | Maximum slippage allowed (points) | 5.0 |
| UseMinLotOnly | Force minimum lot only | true |
Usage
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In MetaTrader 5, navigate to the Scripts folder under Navigator.
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Drag & drop GoldScalperScript onto an XAUUSDm M1 chart.
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Configure any input parameters in the dialog that appears.
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Click OK to run; a single pending order will be placed according to the script logic.
Note: The script only executes on XAUUSDm and chart timeframe M1. If launched elsewhere, it will abort with an informational message.
Installation
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Copy GoldScalperScript.mq5 into your \MQL5\Scripts\ directory.
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Compile in the MetaEditor.
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Reload or restart MT5 to see the script under Navigator > Scripts.
Changelog
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v1.00 (2025‑05‑12) — Initial release as a one‑click pending order script, with stop‑level enforcement and trend/entry logic.
Disclaimer: Trading involves risk. Past performance is not indicative of future results. Use this script at your own risk and always test on a demo account first.
