GOLD Edge PRO MT5

GOLD Edge PRO is an expert advisor (EA) designed specifically for trading GOLD (XAUUSD) but can also be used on any financial instrument and any pairs. This EA utilizes trend-following strategies using moving averages and multi-timeframe RSI, along with a GRID trading approach. It also includes a “DD Reduce” function that closes trades when drawdown occurs, and a trailing stop feature for both GRID trading and DD Reduce.

However, it is important to note that EA may not always respond effectively to unexpected price movements, especially during important news events. Therefore, it is recommended to pause trading during such periods. GOLD Edge PRO offers a NEWS FILTER function that allows you to set specific days, hours, and days of the week when you do not want to trade. You can also customize the position closure settings according to your preferences.

To fully understand and utilize the features of GOLD Edge PRO, it is highly recommended to read the provided guide and set file. The guide provides detailed instructions on the EA’s settings and configurations, while the set file helps you optimize the recommended settings for better performance.

Live Trading Signal and Additional Features

GOLD Edge PRO also offers a live trading signal, which can be accessed through the provided link. This signal includes an important news filter to further enhance trading protection. However, please note that the news filter does not work during strategy testing and is only applicable during live trading.

Additionally, GOLD Edge PRO provides the flexibility to make additional trades using the panel. These trades are automatically settled as GRID series, but you also have the option to manually settle all transactions. The panel allows you to adjust settings such as Max Trades and Max Lot Size, giving you more control over your trading strategy.

Furthermore, you can set non-trading days, trading time, and specific days of the week for trading. This customization feature allows you to align the EA with your preferred trading schedule and market conditions.

Recommendations and Settings

GOLD Edge PRO performs best on the M5 time frame with a minimum deposit of $3,000 and a lot size of 0.01. It is recommended to use the provided set file “row_risk” for optimal performance. However, if you wish to modify the default settings, it is suggested to enable the trailing stop feature and set the Min RSI% (D1) between 30 to 40 and the Max RSI% (D1) between 70 to 60. Please note that adjusting these parameters may affect the number of trades generated.

For a more comprehensive understanding of the settings and set files, refer to the provided link. It is crucial to exercise caution when modifying the default settings, as it may increase risk. Sharp trend reversals can occur if the RSI is out of bounds, so it is important to consider the potential risks associated with wider RSI filters.

FAQ

Q: The EA used to trade a lot before, but these days it doesn’t trade at all. Why?

A: By default, the “RSI Filter” for both D1 and H1 timeframes is set to “true.” If the RSI exceeds the specified range, the EA will not initiate buy or sell trades. For example, in an uptrend, if the RSI exceeds the “Max” value, the EA will not trade. Similarly, if the RSI falls below the “Min” value, the EA will not initiate sell trades. To increase the number of trades, you can set the “RSI Filter” to “false” or adjust the “Min” and “Max” values. However, please be aware that increasing the number of trades may also increase risk, as sharp trend reversals can occur when the RSI is out of bounds.

Independent testing of GOLD Edge PRO can be found on the forexroboteasy.com website, where you can access real-time results and subscribe for updates. We encourage you to share your experience using this product and engage with the support group at Wildrose Forex for any inquiries or assistance.

Please note that this review is an independent perspective and should not be considered as a promotional endorsement. The text has been written in the third person to maintain objectivity and professionalism.