GOLD Edge PRO MT5 is a notable player in the Forex market, specifically designed for trading GOLD (XAUUSD). However, its versatility allows it to be used on any financial instrument and any currency pairs. This Forex EA employs a trend-following strategy using moving averages and multi-timeframe RSI, making it a potential game-changer in the world of Forex trading.
Trading Strategy and Features
The GOLD Edge PRO MT5 uses a GRID trading strategy, which involves placing several trades at once to capitalize on market volatility. This Forex EA also comes with a ‘DD Reduce’ function. This functionality closes the oldest order when a drawdown occurs, simultaneously closing the most recent order. This feature can help traders manage risk more effectively, a crucial aspect of successful Forex trading.
Another noteworthy feature is the ability to set a trailing stop for both GRID trading and the ‘DD Reduce’ function. This allows traders to lock in profits while the market moves in their favor, further enhancing risk management capabilities.
News Filter and Trading Times
Being able to respond to unexpected price movements is vital in Forex trading. The GOLD Edge PRO MT5 has a built-in NEWS FILTER function that allows traders to pause trading during important news events that could lead to significant price fluctuations. Traders can set specific days, hours, and days of the week when they do not wish to trade, and the EA will automatically pause trading during these times.
Additionally, traders can choose to close positions according to their trading strategy and market conditions. This level of flexibility and control is a significant advantage for those using the GOLD Edge PRO MT5.
Support and Updates
For any queries or support, traders can register with the Wildrose Forex support group. Regular updates and improvements are made to the GOLD Edge PRO MT5, ensuring it remains efficient and effective in the ever-changing Forex market.
Recommendations and Settings
The recommended time frame for using this Forex EA is M5, with a minimum deposit of $3,000 and a lot size of 0.01. However, for optimal results, a deposit of $6,000 or more is suggested. The EA can be customized with various settings, including the use of trailing stop, Min RSI% (D1), and Max RSI% (D1).
FAQs
Q: Why has the EA stopped trading as frequently as it used to?
A: The ‘RSI Filter’ D1 and H1 are ‘true’ by default. If the RSI exceeds the set range, the EA will not place a Buy trade. Similarly, if the RSI is below the ‘min’ value, the EA will not place a Sell trade. Adjusting the ‘RSI Filter’ settings can increase trading frequency, but this also increases risk.
Independent testing of the GOLD Edge PRO MT5 can be viewed on the forexroboteasy.com website. Subscriptions for updates on the results of testing this product are also available. We invite readers to share their experiences of using this product, contributing to a broader understanding of its performance in different trading environments.
This review is an independent analysis of the GOLD Edge PRO MT5. It is not affiliated with the product or its developers. It aims to provide a neutral and comprehensive overview of the product and its features.
After having thoroughly tested Quantum Trade EA for several days, as a newbie I am totally positive. It's phenomenal, it works great, all you have to do is install and let the software work on its own. I am very satisfied and highly recommend it.
My favorite trading pair is gold/dollar. This advisor is a godsend for me, I have reduced the risks several times. The program is definitely world-class. You need to be the first here
This is a brilliant Signal. It works incredibly well with regular profit and (for me) the brilliant thing is very low Drawdown. However, just like the previous Trades Review, it was not good at first because I had not set it up correctly. It is a system that Scalps with VERY short trades and therefore the Ping (speed between the signal and your VPS) is crucial for good results. This is only achieved by.... A) Using the same Broker as the Author B) having your account on the same VPS as the Author C) Making sure your VPS is not overloaded. The CPU and RAM must not be under strain and must have plenty of room for spikes in Data. VPS suppliers say that the RAM and CPU usage must be below 80% however, I am not sure, but i believe the lower the RAM and CPU usage for this signal the better it will perform. So, I keep mine below 50%. The 2 VPS the Author recommended to me to use are Ultrafx VPS and ForexVPS. I use Ultrafx with good success. PLEASE NOTE: That I still don’t get the exact results shown on the Signal. My results are a little less, but they are still good and the key point in my view is the Drawdown is MINIMAL and so compared to almost all other Signal, the risk is SO MUCH less. (I would Copy his other Siganls but because of Brexit I cant get accounts with the same Brokers as the other Siganls are run on... very frustrating. Anyone outside of UK could i believe)
Write review
