GOLD Edge MT5

Overview of GOLD Edge MT5

GOLD Edge MT5 is a sophisticated Expert Advisor (EA) designed specifically for trading GOLD (XAUUSD). It can also be adapted for other financial instruments and currency pairs. This EA employs a trend-following strategy using moving averages and multi-timeframe RSI. The use of GRID trading and a unique 'DD Reduce' function makes it a versatile tool for traders.

Key Features

Trend-following strategy using moving averages and multi-timeframe RSI

GRID trading system

'DD Reduce' function for managing drawdowns

Additional trades can be made using the panel

Manual settlement of all transactions is possible

Adjustable Max Trades and Max Lot Size from the panel

Recommendations

Time Frame: M5 recommended

Minimum deposit for AUDUSD: $1500

Minimum deposit for XAUUSD: $3000 with a lot size of 0.01 (use .set file 'lowrisk')

Recommended deposit for XAUUSD: $6000 or more

Can be used on any financial instrument and currency pairs

Settings & Setfiles

The EA comes with a user guide and FAQ, which are essential to read before using the EA. The recommended set files are available at the bottom of the guide.

DD Reduce Function

The 'DD Reduce' function is a unique feature that closes the oldest order with a bad profit and loss together with the latest profitable order. This helps in managing drawdowns effectively.

Additional Features

Automatic calculation of the grid interval

News filter function

Set time to trade and days of the week that do not trade

Option to close all open trades on specific days

Candle Filter during grid trade

Usage Recommendations

Before using the EA, it is recommended to read the user guide and FAQ thoroughly. The EA is designed to be user-friendly, but understanding its functionalities and settings is crucial for optimal performance.

Final Thoughts

GOLD Edge MT5 is a powerful tool for traders looking to capitalize on the gold market. With its advanced features and user-friendly interface, it offers a robust solution for both novice and experienced traders. Whether you're trading GOLD or other financial instruments, this EA provides the flexibility and control needed to navigate the volatile markets effectively. 🌟📈