Elise Gold EA Source Code V1.65 MQ4: A Complete Breakdown of This Smart Gold Trading Robot
If you’ve been deep-diving into the world of gold trading bots lately, you’ve probably noticed a common trend—most EAs either don’t deliver on their shiny promises, or they’re so bloated with gimmicky indicators and overfitted strategies that they end up causing more harm than good. That’s where the Elise Gold EA Source Code V1.65 MQ4 enters the picture.
Elise Gold EA isn’t just another copy-paste MetaTrader 4 robot; it's a clean-coded, strategy-driven EA crafted for precision on the XAUUSD pair. And the best part? You get the full MQ4 source code—meaning you're not locked into someone else's vision of how a gold EA should work. You can tweak it, fork it, upgrade it, or even reverse-engineer the logic for learning purposes.
So let’s crack open what makes Elise Gold EA tick—and why V1.65 is a powerful baseline for both novice coders and seasoned traders.
Overview: What Is Elise Gold EA Source Code V1.65 MQ4?
Elise Gold EA V1.65 is a MetaTrader 4 expert advisor designed specifically for gold trading, with an optimized strategy for the XAUUSD pair. It combines dynamic entry logic based on price action with trailing stop loss systems and basic risk control to navigate volatile gold price movements.
What makes version 1.65 different from earlier releases is its refined logic layers. It doesn’t overcomplicate things with too many technical indicators—this EA prefers a cleaner setup, relying mostly on moving averages, candlestick confirmations, and some custom filters coded directly into the MQ4 script.
Whether you’re a developer looking to build your own EA or a trader wanting something you can customize and own outright, this source code gives you that freedom.
Key Features
- Open Source: Comes with full MQ4 file for modification and education.
- Built for XAUUSD: Strategy is tailored specifically for gold's volatility.
- Price Action Logic: Uses simple but effective entry rules based on candle formations and MA crossovers.
- No Martingale: Straightforward lot sizing without risky multiplier systems.
- Trailing Stop System: Locks in profits as trade moves in favor.
- Adjustable Parameters: Fully customizable—lot size, take profit, stop loss, slippage, and more.
- Spread Filter: Avoids entering trades during high-spread market conditions.
- News Filter Ready: Code includes hooks where a news filter can be added.
- Day/Time Filters: Trade only during certain hours/days if needed.
- Clean Code Structure: Properly commented and organized, great for learning.
- Low Minimum Deposit: Can run on accounts with as little as $100.
How the Strategy Works
At its core, Elise Gold EA operates using a trend-confirmation model combined with breakout logic. Here's how it generally flows:
- Trend Identification: Uses a combination of short and long period MAs (usually EMA-9 and EMA-50).
- Entry Signal: Confirms price breakouts using candle body closings above/below MAs with volume filters.
- Risk Management: Sets fixed stop loss and take profit values, but also includes a trailing stop for larger trends.
- Trade Filtering: Limits trading to high-liquidity hours and avoids spread spikes.
- Trade Exit: If take profit or SL isn’t hit, trailing logic closes the trade when the trend weakens.
This straightforward flow is easy to follow in the source code, making it ideal for those who want to either trust the logic or build onto it.
Backtest & Performance Snapshot
While past performance isn’t always a perfect predictor of future returns, backtests of Elise Gold EA V1.65 show consistent growth when configured properly. Here’s a quick summary:
- Symbol: XAUUSD
- Timeframe: M15 recommended (but works well on H1 too)
- Period Tested: Jan 2021 to Dec 2023
- Initial Balance: $1,000
- Final Balance: $3,780
- Max Drawdown: 11.4%
- Win Rate: Around 63%
- Risk Level: Conservative (1% per trade default)
These results were generated using every tick model in MT4’s strategy tester and realistic spreads. One strong plus point is that Elise doesn’t rely on martingale or grid—so the equity curve is smooth and natural, not artificially inflated.
Who Should Use Elise Gold EA?
- Beginners: If you're just getting into EAs and want a working template with sound logic, Elise is ideal.
- Coders: Want to build your own custom EA? This source code is a great starting base.
- Manual Traders: Use Elise to test how your manual strategy performs when automated.
- Algo Developers: Integrate it with other tools, indicators, or dashboards for a complete gold trading suite.
How to Install Elise Gold EA Source Code in MT4
If you're new to MQ4 files, installing the EA is surprisingly simple:
- Download the
Elise_Gold_EA_V1.65.mq4file. - Open MetaTrader 4, then go to
File > Open Data Folder. - Navigate to
MQL4 > Expertsand paste the.mq4file there. - Restart your MT4 terminal.
- Open the Navigator pane and right-click > "Compile" the EA using MetaEditor.
- Drag and drop the compiled
.ex4EA onto any XAUUSD chart (preferably M15 or H1). - Check the settings panel—you can customize lot size, SL/TP, trailing stop, and trade times.
Don't forget to enable AutoTrading at the top of MT4 and allow DLL imports in EA properties if prompted.
Recommended Settings
While Elise is flexible, here’s a suggested setup for conservative use:
- Lot Size: 0.01 per $100
- Take Profit: 300 points
- Stop Loss: 150 points
- Trailing Stop: 50 points
- Slippage: 3
- Max Spread: 20
- Trade Hours: 09:00 to 18:00 (GMT+2)
Why Use Elise Over Other Gold EAs?
Elise Gold EA isn’t bloated with fluff. It’s clean, transparent, and doesn't hide behind compiled .ex4 files. Many commercial EAs cost hundreds of dollars and still don’t let you peek under the hood. With Elise, you get full control. You can:
- Add your own indicators
- Integrate Telegram alerts
- Tweak entries/exits to suit your risk appetite
- Improve drawdown management with your own tweaks
And because it’s lightweight, it works well even on lower-end VPS servers.
Final Thoughts
Elise Gold EA Source Code V1.65 MQ4 is more than just another trading robot—it's a solid base code for anyone serious about building or understanding how expert advisors actually work. Whether you run it as-is, or use it to inspire your own custom strategy, it gives you both power and flexibility.
Before running it live, always test on a demo account. The gold market can be volatile, and while Elise does a good job navigating it, market conditions change—and responsible trading never goes outta style.
