The world of Forex Trading is constantly evolving, with new software and methodologies being introduced regularly to help traders maximize their profits. One such product is Gold BB FREE, an Expert Advisor specifically designed for XAUUSD currency pair based on Bollinger Bands. This review aims to provide an in-depth look at this tool, its features, and how it can aid in Trading Optimization.
Overview: What is Gold BB FREE?
Gold BB FREE is a forex software that utilizes Bollinger Bands as the backbone of its strategy. Bollinger Bands are a technical analysis tool frequently used in forex markets. They provide a relative definition of high and low prices of a market. Gold BB FREE has been meticulously tested from 2006 to 2021 using real tick data with an impressive accuracy of 99.90%.
Features and Functionalities
The software allows users to modify all strategy parameters such as the Bollinger Band open period, TakeProfit, StopLoss, and TrailingStop. It employs three Bollinger Bands with varying open periods and close price, providing a comprehensive analysis of market trends. Gold BB FREE does not utilize the potentially risky Martingale strategy, ensuring safer trades.
The default parameters of the software have been optimized for the best results. However, these settings can be modified and tested for other currency pairs, providing flexibility and customization according to your trading needs.
Trading Parameters
Gold BB FREE offers a multitude of parameters to optimize your Forex Strategy. These include:
CustomComment: Allows you to add a personal comment to your order
MagicNumber: A unique identifier for your trade
Lots: The lot size of your trade
ExitAtEndOfDay: An option to close all orders at the end of the trading day
DayExitTime: The specific time to close all orders
ExitOnFriday: An option to close all orders at the end of the trading week
FridayExitTime: The specific time to close all orders on Friday
BBOpensPeriod1, BBOpensPeriod2, BBOpensPeriod3: The open periods for each of the three Bollinger Bands
ExitAfterBars: The number of bars after which the trade will be closed
ProfitTarget: The desired take profit in pips
StopLoss: The stop loss in pips
TrailingStopCoef: A coefficient of the Trailing Stop that is multiplied by the ATR indicator with a value of 160
Independent Testing and Updates
For those interested in seeing the software in action, independent testing of Gold BB FREE is available on the forexroboteasy.com website. Additionally, users can subscribe to updates on the product’s testing results to stay abreast of its performance and improvements.
Share Your Experience
Have you tried using Gold BB FREE? Share your trading experiences and insights. Your feedback could be valuable to other traders exploring this tool for their Forex Trading strategies.
FAQs
What is the recommended deposit for using Gold BB FREE? For optimal use of the software, a deposit of at least 300 USD is recommended.
Can I use Gold BB FREE with any broker? Yes, Gold BB FREE can be used with any broker of your choice.
Can the settings of Gold BB FREE be modified for other currency pairs? Yes, the parameters can be edited and tested for other currency pairs, providing flexibility for your trading needs.
In conclusion, Gold BB FREE is a versatile and comprehensive tool for both new and experienced traders. Its flexibility, customization, and tested accuracy make it a valuable addition to any Forex Trading strategy.
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