Golden Pickaxe EA MT4 V2.23 – 1,435% Gain

Golden Pickaxe EA for MT4 by Valeriia Mishchenko

Introduction

The Golden Pickaxe EA for MT4 is an advanced trading algorithm designed to exploit market inefficiencies in the gold market (XAUUSD). Developed by Valeriia Mishchenko, the EA uses a mean-reversion grid trading system empowered by machine learning to identify high-profit potential trades.

With customizable trading strategies and AI-based features, this EA is equipped to deliver significant returns, as evidenced by live signal results and robust backtesting data. Available now on CheaperForex.com, Golden Pickaxe is your opportunity to automate and elevate your trading experience with a system designed to thrive in the ever-changing gold market.

How the Golden Pickaxe Strategy Works

The core strategy behind the Golden Pickaxe is mean reversion combined with a grid trading system. In essence, the EA identifies price levels where the gold market is likely to revert back to the mean, placing trades that capitalize on these movements. The EA uses Donchian Channels to calculate upper and lower price levels and employs filters, including volatility indicators and machine learning, to ensure only the most promising trades are taken.

The machine learning technology in the EA is particularly advanced. It uses neural network algorithms to “learn” from the market’s behavior, applying that learning to enhance trade selection. This allows the Golden Pickaxe to continuously adapt to current market conditions, ensuring an edge over the competition. The EA is also equipped with an Advanced News and Stock Market Crash Filter, allowing it to avoid risky trades during periods of market turbulence.

Additionally, the EA offers 5 predefined set files, each representing a unique trading strategy on XAUUSD. Traders can choose the default setting (XAU Risky) or select from the other configurations depending on their risk appetite and trading goals.

Trading Specifications: Recommended Pair, Timeframe, and Minimum Balance

• Supported Currency Pair: XAUUSD (Gold) is the primary and recommended pair for trading.
• Timeframe: The EA is designed to work on the M1 timeframe (1-minute chart), allowing for high-frequency trading opportunities.
• Leverage and Balance Recommendations:
  • Leverage: A minimum of 1:30 leverage is recommended. For optimal performance, a 1:100 leverage or higher is ideal for enhanced risk management.
  • Minimum Balance: For accounts with 1:30 leverage, it is advised to use a balance of at least $6000 on low-risk settings. For 1:100 leverage, a starting balance of $1000 is sufficient to allow significant risk settings without compromising free margin.
• Broker Requirements: While the EA is not sensitive to spread or slippage, it’s recommended to use a reputable ECN broker to ensure optimal performance and trade execution.
• VPS Usage: For best results, the EA should run continuously on a Virtual Private Server (VPS) to minimize downtime and latency.

Features and Functionality

1. Neural Network with Customization

• The Golden Pickaxe comes with a Perceptron-based neural network that helps filter trades for maximum profitability. Traders can use the built-in perceptron configuration or customize it using the provided settings. The EA allows retraining on your broker’s data for better accuracy.
• Training and Adjustment: The neural network can be trained to improve prediction quality, and settings like number of neurons, training algorithm, and data set size can be configured.

2. Advanced Grid and Risk Settings

• Grid System: The EA uses a grid strategy, placing multiple orders based on predefined trade distance, with adjustable multipliers for subsequent trades. The maximum number of trades in a grid can be controlled to suit your risk management preferences.
• Risk Management: Multiple risk settings allow for a tailored approach to trading. You can choose from fixed lot sizes, dynamic lot sizing based on balance or equity, or deposit load percentage to determine trade size.
• Volatility Filter and News Protection: To avoid entering trades during high volatility, the EA uses filters that consider market conditions. Additionally, the news filter prevents trades during potentially market-moving events, ensuring your positions aren’t exposed to sudden market swings.

3. In-Built Performance and Statistics Panel

• The EA provides a comprehensive GUI that displays relevant statistics and trade performance in real-time. You have access to live diagnostics, including expected lot size, equity and balance status, and upcoming news events that may impact trading.

Live Performance and Backtesting

The Golden Pickaxe EA has been tested extensively, both in live market conditions and in backtests using Dukascopy real tick data with 99.9% modeling quality. Here are the highlights:

Live Signal Performance

The live signal results on MyFXBook demonstrate that the Golden Pickaxe EA has yielded consistent and impressive gains:

• Gain: The EA achieved a cumulative gain of 1,435.78% since its launch, reflecting its profitability and ability to maximize returns.
• Monthly Returns: Averaging a monthly gain of 11.56%, the EA has proven its potential to deliver sustainable profit growth.
• Drawdown: With a drawdown of 50.92%, the EA maintains a risk-reward balance, protecting capital while maximizing profit opportunities.

The live chart shows steady equity growth, with deposits managed effectively and consistent growth maintained over time. Profits and balance data reflect the EA’s ability to navigate market fluctuations and capitalize on opportunities effectively.

Backtesting Results

Backtests of the Golden Pickaxe EA have validated its performance and robustness over a long period:

• Trading Results: The backtest results show a total net profit of over $5.2 million with an initial deposit of just $1000.
• Profit Factor: With a profit factor of 2.59, the EA has been able to produce returns that far outweigh the risks.
• Trade Performance: The EA completed a total of 5503 trades, with a profit trade rate of 91.04%, confirming its efficiency in trade execution.
• Maximum Consecutive Wins: The EA achieved a streak of 159 consecutive winning trades, demonstrating its consistency and the reliability of its trading strategy.

The backtest graph shows an exponential growth curve, with equity growing steadily and a strong upward trend maintained throughout the tested period from 2005 to 2022.

Our Thoughts on Golden Pickaxe

The Golden Pickaxe EA stands out as a reliable and innovative trading tool for gold traders. Its ability to retrain the neural network on broker-specific data, combined with its mean-reversion strategy and AI-powered trade filtering, makes it a unique and powerful EA.

The advanced customization options provide traders with flexibility in managing risk, adjusting trade sizes, and adapting to changing market conditions. The predefined set files make it easy for beginners to get started, while the more advanced options allow seasoned traders to fine-tune their trading strategy.

Reviews and User Feedback

While reviews of the Golden Pickaxe are not included directly, the live performance data speaks volumes. Traders who use the EA have seen consistent returns, steady account growth, and effective capital management. The combination of backtested data and live signal results gives traders confidence in the EA’s reliability and long-term profitability.

Conclusion

The Golden Pickaxe EA for MT4 by Valeriia Mishchenko is a robust, AI-driven trading solution designed for those looking to maximize profitability in the gold market (XAUUSD). Whether you’re a beginner looking for an automated solution or an experienced trader seeking to diversify your strategy, the Golden Pickaxe provides the tools and adaptability you need to succeed.

By employing neural network technology, mean-reversion grid strategies, and advanced risk management, this EA is positioned to deliver significant returns while maintaining capital protection. Available on CheaperForex.com, the Golden Pickaxe is an investment in your trading future, offering a blend of cutting-edge technology and proven strategies to help you achieve your trading goals.

Take your gold trading to the next level—invest in the Golden Pickaxe EA and start experiencing the power of AI-driven automation in your trading strategy.