GOLD Edge GUIDE

GOLD Edge GUIDE

2 September 2022, 16:42
Hideki Nakajima
13
21 605

Please register with Wildrose Forex Community.

GOLD Edge is a EA designed specifically for GOLD(XAUUSD)and can also be used on any financial instrument, any pairs.

This EA trades trend-following using moving averages and multi-timeframe RSI. Use GRID trade.

This EA closes with the "DD Reduce" function when drawing down.
You can set trailing stop for "GRID trading" and "DD Reduce" function.

DD Reduce function:
It is a function to close the oldest order with  the latest order. 

The recommended set files is at the bottom.


How to purchase a trading robot from the MetaTrader Market and to install it?
https://www.mql5.com/en/articles/498

How to Test a Trading Robot Before Buying
https://www.mql5.com/en/articles/586


GOLD Edge MT5

https://www.mql5.com/en/market/product/73761

GOLD Edge (MT4)

https://www.mql5.com/en/market/product/73757


Features:

You can use the panel to make additional transactions. It will be automatically settled as a GRID series.
You can also Close manually. From the panel, you can change Max Trades and Max Lot Size.

In general, EA (robot) is vulnerable to price movements due to important news and events,
so it is recommended to pause when there is important news or when there is an event.
PRO Ver can set NEWS FILTER function and Non-Trade Day.

In addition, you can set the trading time and the day of the week for trading. It is also possible to close a position.
Pro MT5 supports news sources provided by MQL5.com.

Distance setting is necessary to change the value according to the currency pair.
PRO ver has Auto Distance.

(Reference) PRO Ver Features:

  • A function to automatically calculate the grid interval. This supports various currency pairs.
  • Closes with the "DD Reduce" function when recovery. You can set trailing stop for "GRID trading" and "DD Reduce" function.
  • NEWS FILTER function.
In general, EA may not be able to respond to unexpected price movements that occur in important news, so it is recommended to pause trading.
PRO ver has a NEWS FILTER function
  • You can Set time to trade.(Option: Can Close all Open trade)
  • You can set a day of the week that does not trade. (Option: Can Close all Open trade)
  • You can set the day when you do not trade, such as the end of the month or the beginning of the month.(Option: Can Close all Open trade)
  • You can choose or disable "Candle Filter" during the grid trade. In addition, other filters can be set.
  • You can show/hide the panel using the button.

    PRO Ver MT5

    https://www.mql5.com/en/market/product/86807

    PRO Ver MT4

    https://www.mql5.com/en/market/product/86803


    Recommendations:

    Time Frame M5 recommended.

    AUDUSD:
    Minimum deposit $1500.

    XAUUSD:
    Minimum deposit $3000. Lot 0.01. (use .set file "low risk").
    Recommended $6000 or more.

    Recommend Pair: XAUUSD, AUDUSD  (Can also be used on any financial instrument, any pairs. Change "Distance")
    PRO ver has "Auto Distance"

    The recommended set files is at the bottom.

    Control panel:

    Control panel


    Settings:

    The recommended setfiles is at the bottom.

    Adjust Start LotSize, Max Lotsize, Max Trades according to your equity.
    You can adjust the drawdown and profit by changing the parameters of the GRID category.
    If you can use a tester, please use the tester to make adjustments.

    Basic Setting

    Magic Number - Magic number. Change it if necessary.
    Use Short Trade - Enables Short Trade (Sell).
    Use Long Trade - Enables Long Trade (Buy).

      Money Management

      Auto Lot Size - Enable automatic lot size setting using Maney Management function.
      Auto Max Lots - Enable automatic maximum lot size using Maney Management function.
      Base Margin for each Lotsize - The amount of base funds for the Maney Management feature.

        If you want to automatically set the lot size according to the equity, set "Auto Lot Size" to "true". And set the amount for "StartLotSize" in "Base Margin for each Lotsize". "Lot Size will increase by the amount set in Base Margin for each Lotsize.
        Similarly, setting "Auto Max Lots" to "true" will also increase "Max lots".

        ex. Auto Lot Size = "true", Base Margin for each Lotsize = "3000", Start LotSize =0.01",
              $3000 - $5999: 0.01 Lot,  $6000 - $8999: 0.02 Lot ......

              if "Auto Max Lots = true" Max Lots increase 0.2, 0.4, 0.6....

        Trade Parm

        Start LotSize - Start lot size.
        Take Profit - Settlement profit.
        Take Profit (DD Reduce) - Settlement profit when DD Reduce (DrawDown Reduce) function is used.
         Slippage - Slippage.
        Number of digits after the decimal point - The number of digits after the decimal point in the lot. Please match with the broker.
        Use Hedge Trade - Make a double-decker transaction.
        Stop Loss (not recommended) - Stop Loss(point)   When using Trailing Stop (DD), only the first order is valid. 0.0=Not Use.

          Trailling

          Use Trailling Stop - Enable trailing stop.
          TrailStart pips - Trailing start value.
          TrailStop pips - Trailing stop value.
          Use Trailling Stop (DD Reduce) - Enables trailing stop when the DD Reduce function is used.
          TrailStart pips (DD Reduce) - Trailing start value when DD Reduce function.
          TrailStop pips (DD Reduce) - Railing stop value when DD Reduce function.

            GRID

            Max Lotsize - Maximum lot size.
            Start Lot Multiply Count - Number of trades to start the Lot Multiply.
            Lot Multiplier - Lot amplification value.
            Max Trades - Maximum number of trades (larger is better, but risk is higher)
            Start DD Reduce Count - Number of trades to start the DD Reduce function.

            GRID Distance

            It is necessary to change the value according to the currency pair.
            (Distances for other currency pairs are not presented here. Please refer to the value of ATR(H1) or check it with a backtest.)

            PRO ver has Auto Distance.

            Distance - Distance (amount) to make the next trade when going backwards.
            Start Distance Multiply Count - Number of trades to start amplifying Distance.
            Distance Multiplier - Amplification value of Distance.
            PRO ver has "Auto Distance"

            FIlter

            MA Timeframe - Timeframe for MA. It's not the chart's timeframe.
            MA Short Period - Moving Average short period.
            MA Long Period - Moving Average long period.
            Use RSI Filter - Use current RSI filter.
            Use RSI(H1) Filter - Use H1 RSI filter.
            Use RSI(D1) Filter - Use D1 RSI filter.
            Min RSI%  - Current RSI Min.
            Max RSI% - Current RSI Max.
            Min RSI%(H1) - H1 RSI Min.
            Max RSI$(H1) -  H1 RSI Max.
            Min RSI%(D1) - D1 RSI Min.
            Max RSI%(D1) - D1 RSI Max.

            By default(Versions until 2022/9), D1 RSI is set at Min40, Max60.
            In this case, if the downtrend continues and the D1 RSI breaks below 40, do not trade sell.
            Also, if the uptrend continues and the D1 RSI is above 60, do not buy trades.
            If you want to trade more, reduce Min to 30 and set Max to 70 and you will get more trades.
            However, it also increases the risk, so please use it with caution.


            Time to trade

            Use Time Filter - Time Filter On.
            Start Hour - Trade start time (hours).
            Start Minute - Trade Start Time (minutes).
            End Hour - Trade end time (hours).
            End Minute - Trade End Time (minutes).

            Day of the week to trade

            Trade on monday - Trade on monday On.
            Trade on Tuesday - Trade on Tuesday On.
            Trade on Wednesday - Trade on Wednesday On.
            Trade on Thursday - Trade on Thursday On.
            Trade on Friday - Trade on Friday On.

            Trend Reversal Loss Cut 

            Do not change if you do not know the moving average.
            or do enough testing.

            This parameter also filters trade entries. (Do not enter if there are signs of reversal)

            Use Trend Reversal Loss Cut (TRLC) - Use Trend Reversal Loss Cut
            Trend Reversal MA Timeframe - moving average timeframe to detect trend reversal.
            Trend Reversal MA Short - MA Short 
            Trend Reversal MA Long - MA Long 

            Risk Management

            Use "Minimum Free Margin" - true if this feature is used
            Minimum Free Margin  -  If Free Margin is less than this percentage, no new trades will be executed.
            (Free Margin / Accout Balance)% 


            Loss Cut 

            Equity Percent(%) Loss Cut - Cut losses at a percentage of equity
            Equity Percent - Percentage of drawdown amount to equity

            Panel Setting

            Button Size Base - Button size on the panel.
            Font Size Base - The font size of the panel.


            FAQ:

            The most common inquiry.

            If you have any questions, please contact me.
            Please ask the question in a message, not a comment.


            Q: Previously, the EA was working well, but in the past few days the EA has not been trading at all. Why?

            A:

            "RSI Filter" D1 and H1 are "true" by default.
            If the RSI exceeds this range, if it is more than the value of "max", do not Buy trade.
            In the case of "min" or less, we do not Sell trade.
            For example, if the "RSI" exceeds "Max" in an uptrend, it will not be traded because it will not buy and trade even if it is an uptrend.
            If you set "RSI Filter" to False or “Min” and "Max" widely, the number of trades will increase, but please note that the risk will increase.
            You never know when a sharp reversal in trend will occur if the RSI is out of bounds.


            Q: What is the difference between GOLD Edge and GOLD Edge PRO?

            A: Here are the features of GOLD Edge PRO

            • You can show/hide the panel using the button.
            • It has a function to automatically calculate the grid spacing. This allows it to be used with various currency pairsSpread Filter
            • Spread Filter.

              which can prevent trading if the spread is above a set value.

            • Equipped with a news filter feature.
            In general, EA may not be able to respond to unexpected price movements that occur in important news, so it is recommended to pause trading.
            PRO ver has a NEWS FILTER function
            • In the trading hours settings, there is an option to close all open trades if any are left open outside of the designated trading hours.
            • There is an option in the setting for non-trading days that allows you to close all open trades if any remain open on days you've designated as non-trading days.
            • You can set specific days, like the end or beginning of the month, as non-trading days. (Option: If there are open trades remaining on the set days, you can close all of them).
            • In grid trading, you can disable the "candlestick filter" (it is enabled by default).


            Q: When i change (GRID) lot multiplier into "1.3" why it seems does not have any effect, the lot size for all the GRID is 0.01 .Why?

            A:

            If the initial lot is 0.01, it is computationally so. 0.01×1.3=0.013 Rounded to 0.01 because the minimum lot is 0.01.


            Q: Can GOLD Edge be used with a real account?

            A:

            yes. Works with real accounts.






            GOLD Edge .Set Files (V3.8 or later):


            GOLD Normal  Update 2024.3.10

            MT5

            Default

            MT4

            Default


            Previous set file(〜2024/3/10)

            GOLD_Edge_MT4_M5.set
            GOLD_Edge_MT5_M5.set


            GOLD Low Risk

            MT5   2023.5.5

            GOLD_Edge_MT5_M5_low_risk_202404.set

            MT4   2024.3.31

            GOLD_Edge_MT4_M5_low_risk_202404.set


            AUDUSD

            MT4

            GOLD Edge_MT4_M5_AUDUSD.set


            VIDEO's  demo Setfile (Very Risky)

            MT5 Only.

            GOLD Edge M5 Video.set

            Please be careful as it is a high risk setting.
            Please note that the EA version has been updated,
            so the results may not be exactly the same. I don't know what the outcome will be,
            other than the duration of the video.
            This setting is very risky,
            so I recommend that you change "Base Margin for Each LotSize" to $ 6000 or more.


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