- Strategy
- Scores M15 fair value gaps on size, displacement, H1 trend, freshness and premium/discount, then places a limit order at the edge of gaps that score at least 50 during London and the London/New York overlap.
- Risk model
- Fixed 0.01 lot by default (optional 0.5% risk), stop beyond the gap plus a buffer, target 1.5 × stop, one trade at a time, $5 daily loss limit.
What it does
An open-source gold Expert Advisor by foeed, published under the MIT licence. It looks for fair value gaps on M15, scores them, and only trades the strongest ones during the most active hours. FXPIPS hosts a copy with one small safety patch, described below, together with the licence.
How it works
- Finds three-candle fair value gaps of at least 25 points, between 2 and 20 bars old.
- Scores each gap from 0 to 100: gap size (30), displacement of the impulse candle (30), H1 EMA50/200 alignment (20), freshness (10) and premium/discount position (10). An overlapping order block adds 20. Only gaps scoring 50 or more trade.
- Trades only in London (07:00–10:00 GMT) and the London/New York overlap (12:00–16:00 GMT).
- Places a limit order at the gap edge, with the stop beyond the opposite edge plus a $3 buffer, the target at 1.5 × the stop distance and break-even at 0.5 × ATR.
Patch in this copy: with risk-based sizing, if the calculated lot is below the broker minimum the order is skipped instead of being rounded up to a larger risk.
How to use it
Attach it to an XAUUSD M15 chart and load the included preset file if you want the author's settings. Check that your broker's GMT offset matches the killzone hours.
Settings
| Input | Default | What it changes |
|---|---|---|
| Fixed lot | 0.01 | Position size (0 = risk %) |
| Risk % | 0.5 | Used with fixed lot 0 |
| Max concurrent trades | 1 | Exposure |
| Daily loss limit | $5.00 | Daily stop |
| Minimum score | 50 | Gap quality threshold |
Limitations
Limit orders at gap edges are often missed in fast moves, and the fixed $3 buffer behaves differently as gold's price and volatility change. The author's published results are their own; FXPIPS has not verified them.
Before you run it live
Read the licence and the original repository, test with real ticks and run it on a demo account first. FXPIPS did not write this EA and does not provide support for it.