Four questions, answered on screen. The gold scalper matrix indicator scores a moving average cross, a stochastic reading, an RSI reading and a volatility gate, paints each one in a grid cell, and marks the bar where all four line up. You see the reasoning, not just the arrow.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from XAUUSD M5.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: Matrix BUY, Matrix SELL |
| Alerts | popup, push notification, email, sound |
| Inputs | 26 |
What the Gold scalper matrix Indicator draws on the chart
Two arrow plots and a grid.
`Matrix BUY` uses arrow 233 in lime.
`Matrix SELL` uses arrow 234 in red.
Four labelled cells sit in the chosen corner.
`GridBullColor` and `GridBearColor` fill each cell.
Cell size comes from `GridCellW` `84`.
- Matrix BUY: arrow, lime, width 2, arrow code 233
- Matrix SELL: arrow, red, width 2, arrow code 234
How the Gold scalper matrix Indicator calculates its values
Cells one and two
Trend then momentum. `EmaFastPeriod` `8` against `EmaSlowPeriod` `21` fills the first. The stochastic reading against `StochBullLevel` `50.0` fills the second.
Cells three and four
Strength then conditions. `RsiPeriod` `14` against `RsiBullLevel` `50.0` gives the third. The fourth is a gate rather than a direction.
The volatility gate
It scales to price. `AtrPeriod` `14` over the current price gives a percentage, and `AtrMinPct` `0.05` is the floor. Below it no mark can print.
How to read the signals
Three cells carry direction and the fourth is a gate.
A mark needs all three directions plus the gate open.
Cell colour shows which side each reading favours.
Two cells against one is the common state.
The gate closes when the market goes quiet.
A percentage gate travels between symbols.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` covers the matrix alerts and ships true alongside `EnablePopup`. `EnablePushNotify` reaches a phone, `EnableEmail` posts mail and `EnableSound` plays `SoundFile`. Those three start off and marks report once a bar.
Every Gold scalper matrix Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
EmaFastPeriod |
Cell 1 – EMA cross fast. Cell one fast average, `8`. | 8 |
EmaSlowPeriod |
Cell 1 – EMA cross slow. Cell one slow average, `21`. | 21 |
StochKPeriod |
Cell 2 – Stochastic %K. Cell two main window, `14`. | 14 |
StochDPeriod |
Cell 2 – Stochastic %D. | 3 |
StochSlowing |
Cell 2 – Stochastic slowing. | 3 |
StochBullLevel |
Cell 2 – %K above this is bull. Level cell two needs, `50.0`. | 50.0 |
RsiPeriod |
Cell 3 – RSI period. Cell three window, `14`. | 14 |
RsiBullLevel |
Cell 3 – RSI above this is bull. Level cell three needs, `50.0`. | 50.0 |
AtrPeriod |
Cell 4 – ATR period. Cell four range window, `14`. | 14 |
AtrMinPct |
Cell 4 – min ATR/price % for vol-on. Range as a share of price, `0.05`. | 0.05 |
GridXOffset |
(see inputs panel) | 12 |
GridYOffset |
(see inputs panel) | 30 |
GridCellW |
(see inputs panel) | 84 |
GridCellH |
(see inputs panel) | 22 |
Display settings
| Setting | What it does | Default |
|---|---|---|
GridCorner |
0=TL 1=TR 2=BL 3=BR. Which corner holds the grid, `1`. | 1 |
GridFontSize |
(see inputs panel) | 9 |
GridBullColor |
(see inputs panel) | lime |
GridBearColor |
(see inputs panel) | red |
GridTextColor |
(see inputs panel) | black |
GridFontName |
(see inputs panel) | Arial Bold |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master switch, `true`. | on |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
(see inputs panel) | off |
SoundFile |
(see inputs panel) | alert.wav |
Settings that fit your chart
XAUUSD M5 is the reference chart, and the tool is named for it. Gold moves enough on M5 to keep the gate open. On EURUSD M5 the gate closes often. On H1 the four readings agree less frequently but each mark carries more.
When the Gold scalper matrix Indicator fails
Three of the four readings come from the same price series.
Two midline gates are weak filters on their own.
The grid takes real chart space.
A percentage gate reacts slowly to a sudden calm.
Copy the compiled Gold scalper matrix Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Gold Scalping Strategy.
Download the Gold scalper matrix Indicator for MT4 and MT5
The zip holds the compiled Gold scalper matrix Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
What makes AtrMinPct 0.05 a gate rather than a direction?
Because it answers a different question. The other three cells say which way the market leans; this one says whether there is enough movement to bother. Below five hundredths of a percent, no mark prints either way.
Why is AtrMinPct a percentage, not a point value?
So the same setting travels. Gold trades in the thousands and a currency pair near one, which means an absolute range threshold would need changing per symbol while a percentage of price does not.
Are StochBullLevel and RsiBullLevel both midlines?
Yes, both sit at fifty. Neither asks for an extreme reading, only for the balance to lean the right way, which is why the grid can show agreement without any reading being stretched.
Are EmaFastPeriod, StochKPeriod and RsiPeriod independent?
Not really, and it is worth knowing. All three read the same price series, so they tend to agree for one underlying reason rather than three. Only the volatility gate is genuinely independent.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Gold scalper matrix Indicator as one input. Always backtest before trading live.
Category: this is part of our Volatility collection. Also, still, hence, plainly, truly, browse more Volatility for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see London Gold Pool on Wikipedia.
- For broader market context, see Weighted Close at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.