Giga-Gold-M5 Overview

Giga-Gold-M5 is configured on FXCE Giga by solovely (Telegram: @Anh219) - a member of FXCE - EA community based on the characteristics of Bollinger Bands and Candlesticks.

The formation of the last 2 candles to Bollinger Bands creates an entry signal and DCA by a multiplier of 1.8 if the price moves in the opposite direction.

Users can follow the Giga-Gold-M5's trading results in real time on the FXCE Social Trading Platform here.

Giga-Gold-M5 Trading Method

Trading strategy

Buy conditions

• The 2nd Candle closed and crossed the Lower Bollinger Bands

• 3The ratio of the 2nd candle body to the whole candle is ≥ 80%

• The 2nd body candle is ≥ 179 points

• The 1st body candle is ≥ 139 points

• The 2nd Candle has a closing price lower than the opening price

• The 1st Candle has a closing price lower than the opening price

Sell conditions

• The 2nd Candle closed and crossed the Upper Bollinger Bands

• The ratio of the 2nd candle body to the whole candle is ≥ 80%

• The 2nd body candle is ≥ 179 points

• The 1st body candle is ≥ 139 points

• The 2nd Candle has a closing price greater than the opening price

• The 1st Candle has a closing price greater than the opening price

Risk management

The 1st order

• Volume of the first order is 0.01 lot

• Target Profit: 126 points 

DCA Strategy

• If the price moves in the opposite direction, then DCA with a lot multiplier of 1.8 and up to 8 orders

• The fixed volume of 8 DCA orders are as follows: 0.01; 0.03; 0.05; 0.1; 0.18; 0.34; 0.61 lots

• Fixed step size: 126; 99; 168; 99; 168; 99 points

• Target Profit: 220 points

Technical Indicators

Giga-Gold-M5 is based on the Bollinger Bands indicator that adheres to the following parameters:

Backtesting results

The EA backtested under the following conditions:

• Time Frame: M5

• Backtest period: 01/01/2020 - 03/12/2022

• Symbol: XAUUSD

• Balance: $10.000

Backtest settings for Giga-Gold-M5

Giga-Gold-M5 Backtesting Results

The backtest result is evaluated based on 4 criteria:

• Drawdown recovery period = EDD * Number of months Backtest / Total Net Profit

• History Quality ≥ 99%

• Profit Factor ≥ 1,5

• Equity Drawdown ≤ 15%

More information on the Backtest assessment guiding: https://ea.fxce.com/post/huong-dan-danh-gia-ket-qua-backtest_636a2d4e56a5ec0001ade8e3

Configurating on Giga

Follow the steps to configure and can customize the EA:

Entry tab settings

Buy order

Sell order

Volume tab settings

Action tab settings - DCA

Terms of use

• Giga-Gold-M5 is free and shared by member solovely of FXCE EA.

• Used on MT5 FXCE platform

• Any purchase, sale or exchange in any form is not allowed.

• FXCE as well as solovely are not responsible for any loss during use.

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Download the EA config here

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• Detailed instructions on how to use EA from EA Giga library can be found here.

• Copy the “.config” file into the folder where the FXCE Giga config file is saved.

• To access the folder where the config file is saved, go to FXCE Giga and select the File > Open Data Folder menu.

• After loading the config file into FXCE Giga, users can perform backtest or forward test.