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Golden Lab
1 posts

What is Golden Lab?

Golden Lab is an Expert Advisor (EA) designed for the MetaTrader platform, specifically tailored for trading in the Forex market. It leverages the Traders Dynamic Index (TDI) indicator, which combines the Relative Strength Index (RSI) and Simple Moving Average (SMA) to generate trading signals. This EA operates using a grid and martingale strategy, requiring a broker that permits hedging.

Key Features

  • Uses the Traders Dynamic Index (TDI) indicator.
  • Employs grid and martingale strategies.
  • Operates on multiple currency pairs including AUDCAD, EURCAD, EURUSD, AUDUSD, GBPUSD, GBPAUD, EURAUD, NZDUSD, USDCAD, USDCHF, and XAUUSD.
  • Works best on M15 charts for aggressive trading and H1 for safer trading.
  • Customizable parameters such as lot size, dynamic lot, take profit, stop loss, and more.

How It Works

  • Buy Signal: When the green line of the TDI crosses the 50 RSI level from bottom to top.
  • Sell Signal: When the green line of the TDI crosses the 50 RSI level from top to bottom.
  • Grid Strategy: Opens multiple orders at different levels to average out the entry price.
  • Martingale Strategy: Increases the lot size after a loss to recover previous losses and gain profit.

Parameters and Settings

  • Control orders open by user: True/False
  • Max Buys: Maximum number of buy orders the EA can open.
  • Max Sells: Maximum number of sell orders the EA can open.
  • Lot: Starting lot size.
  • Use dynamic lot: True/False
  • Free margin for each 0.01 lots: Amount of free margin required.
  • KMartin: Coefficient for increasing the lot size.
  • Max lot: Maximum lot size.
  • Take Profit: Take profit in points.
  • Stop Loss points: Stop loss in points.
  • Stop loss %: Stop loss as a percentage of the deposit.
  • Overlap: Enables the algorithm for reducing drawdown by closing the last profitable and first unprofitable order.
  • Distance Settings: Parameters for fixing and dynamically adjusting the distance between orders.

Recommendations

  • Best used on pairs like AUDCAD, EURCAD, EURUSD, AUDUSD, GBPUSD, GBPAUD, EURAUD, NZDUSD, USDCAD, USDCHF, and XAUUSD.
  • For aggressive trading, use M15 timeframe; for safer trading, use H1 timeframe.
  • Ensure your broker allows hedging and has low swap fees.
  • Test the EA on a demo account before using it on a live account.

User Reviews

  • Positive feedback highlights the EA's effectiveness across multiple currencies and metals when combined with a good trend indicator like Trend Chief.
  • Some users have reported passing funding challenges quickly using this EA.
  • Critics mention the necessity of following the setup process meticulously to avoid account blow-ups.

Conclusion

Golden Lab is a robust trading tool designed for those who understand the risks and rewards of grid and martingale strategies. It offers a high degree of customization and works best with brokers that allow hedging. While it has received positive feedback for its performance, it is crucial to follow the recommended settings and test thoroughly before live trading. Happy trading! 🚀📈