MQL5 Free EA – Verification by backtesting 4 "GOLD Edge MT5"

MQL5 Free EA

In the “Verification by backtesting" series, we verify the performance of free EAs registered in the MQL5 community from the backtesting results. We hope it will help you choose EA.

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The fourth installment is GOLD Edge MT5“.

About GOLD Edge MT5

Quote from the official page of “GOLD Edge MT5" in MQL5

GOLD Edge is an EA created for GOLD (XAUUSD), but can also be used for other financial instruments.
The EA conducts trend-following trades using moving averages and multi-timeframe RSI. Trade GRID. The EA closes on drawdown with the “DD Reduce" function. You can also set trailing stops with “GRID Trading" and “DD Reduce".

DD Reduce Function:

  • It is a function to close the order with the oldest bad profit and loss and the order with the latest profit together.


  • You can use the panel to make additional trades.
  • It is automatically settled as a series of GRID.
  • Manual payment is also possible.
  • You can change Max Trades and Max Lot Size from the panel.

Time Frame M5-M15 recommended.

Gold Edge Guide (official page):

Trading of “GOLD Edge MT5"

As the name suggests, it is an EA targeting Gold and is characterized by high stability and profitability. This EA basically follows the trend and chops finely, but if it goes backwards, it accumulates lots by martingale method and suppresses the increase of positions by a unique function called DD Reduce (closing the oldest order with the worst profit and loss and the order with the latest profit together).

These features seem to provide a stable asset curve with relatively low drawdown.

XAUUSD M15, $10,000 start (period 2020.12.1-2022.11.30)

Although the EA shows such a stable asset curve, it contains the martingale method, so the possibility of suddenly hitting a drawdown cannot be ruled out. Unfortunately, with my MT5, XAUUSD historical data (exchange rate) was only available for several years, and I could not conduct a long-term backtest. As such, we can’t give XAUUSD a better evaluation, but the results of our short-term backtesting showed us that we are quite capable of doing so.

Please read the official page carefully and understand the details before considering whether to use this EA. On the official page, how to set parameters and “Set file" are also available.

Gold Edge Guide (official page):

Operability outside of XAUUSD

“Gold Edge MT5" sells stable trading, but as mentioned above, the martingale method is included in the trading method, so I would like to evaluate it according to the author’s “selection criteria for martingale type EA".

Again, the selection (optimization) criteria for martingale type EAs are as follows.

  • Small downdown (unrealized loss) (no stop-out for a long period of time)
  • Sufficient number of trades
  • The size of the drawdown is balanced with the revenue.

First, in order to clarify the available currency pairs and timeframe of this EA, we backtested using the function of testing “All Market Watch Symbols" in MT5.

The test conditions are NOZAX Zero Account (ECN), initial balance of 10,000 USD, period January 1, 2012 ~ November 30, 2022, EA parameters are default settings.




The table above is sorted based on drawdown from the viewpoint of “small drawdown". When selected by the small drawdown, CADCHF# was selected for both M5 and M15.

Next, looking at revenue, the highest gains and losses were $30,652 for GBPCHF# M5 and $24,664 for M15. A simple proportional estimate of XAUUSD’s profit and loss over the same period would be around $79,360. Other currencies may also have the potential to improve performance depending on the parameter settings, but even if you subtract that amount, it seemed that XAUUSD’s superiority would not change.

EA name is not Date!

Individual backtesting on screened currency pairs

Based on the above results, we conducted separate backtests on CADCHF# and GBPCHF# to see how the asset curve flies.


  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: CADCHF#
  • Timeline: M5
  • Initial Balance: $10,000
  • Parameters: Initial Setup
  • Period: January 1, 2012 ~ November 30, 2022
  • It seems to show a reasonably stable asset curve, but since it still includes the martingale method, it seems that it sometimes suffers a large drawdown.


  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: GBPCHF#
  • Timeframe: M5
  • Initial Balance: $10,000
  • Parameters: Initial Setup
  • Period: January 1, 2012 ~ November 30, 2022
  • If the Equity Darwdown Maximal is greater than the initial balance ($10,000) ($16,000 or more), it can easily lead to a stop out depending on when the backtest starts. You could just say that we didn’t stop out luckily.
  • As a result of the screening, “CADCHF" was selected as an option other than XAUUSD. However, the results obtained in this verification were obtained with the NOZAX Zero account, and the results may differ from other companies. Please include that point.

Posted by GOMA