Gold Goblin MT5: Automated Gold Trend Trading on MT5 with Verified Results

This Gold Goblin MT5 review for 2026 presents a performance analysis based on live and backtested results. Gold Goblin MT5 is an MT5 expert advisor priced at $480 and developed by Michael Prescott Burney. The primary design emphasizes trend-aligned gold trading (XAUUSD) with large reward-to-risk targets, and the 2026 analysis shows how the algorithm prioritizes quality over quantity, selecting setups with higher expectancy and calibrated position sizing. What makes Gold Goblin MT5 unique is its combination of multi-timeframe trend filters and intraday trigger logic that seeks to capture sustained moves rather than scalp noise. The algorithm uses ATR to size positions and set adaptive stop losses, and it enforces configurable maximum drawdown limits to protect equity. In practice, the EA typically executes low frequency, high conviction trades averaging 4–12 trades per month depending on volatility, which suits traders aiming for 2:1 or higher average reward-to-risk outcomes. Market conditions that suit the robot are trending gold markets with clear directional bias and moderate to high volatility during major sessions. It underperforms in choppy sideways conditions where signals generate whipsaws. Backtests and verified live samples indicate realistic average win rates near 55–62% with typical peak drawdowns of 8–18% under default sizing; users can reduce drawdown by lowering risk per trade. Gold Goblin MT5 includes detailed trade logs and parameter transparency so traders can validate expectancy, optimize timeframes, and adapt settings for personal risk tolerance. User feedback on marketplaces totals a 4.5/5 rating from 100 reviews, noting robustness during trending months and clear documentation. Recommendations include running a minimum $5,000 account for default settings and adjusting risk to 0.5–1.0% per trade for conservative growth.