GOLD Edge PRO GUIDE

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Gold Edge Pro is an EA designed exclusively for GOLD (XAUUSD). It can also be used in other currency pairs.
This EA trades trend-follow using the moving average and multiple time frame RSIs. Use GRID trade.

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

News filters are available.

The recommended setfiles is at the bottom.

Important: This EA analyzes market conditions before trading, so it may not trade every day. Please read the FAQ for information about trading behavior.

FAQ: https://www.mql5.com/en/blogs/post/757388

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 PRO MT5
https://www.mql5.com/en/market/product/86807

GOLD Edge PRO MT4
https://www.mql5.com/en/market/product/86803

FAQ
https://www.mql5.com/en/blogs/post/757388

Features:

The PRO version includes nine additional features:

1. News Filter: Pause trading during important news announcements when unexpected price movements can occur
2. Daily Profit Stop: Set a daily profit target - once reached, trading stops for that day (e.g., entering "10" stops when $10 profit is reached)
3. Spread Filter: Stop trading if the spread exceeds a set value, preventing losses during large spreads
4. Non-Trading Days: Designate specific days as non-trading days to avoid higher-risk periods, with option to close all open trades
5. Auto Set Distance: Automatically calculates the grid interval for various currency pairs
6. Time to Trade (Additional Option): Close all open trades when specified trading hours are exceeded
7. Day of the Week to Trade (Additional Option): Close all open trades on designated non-trading days
8. Use Candle Filter (Filter ON/OFF): Disable candlestick filter - when disabled, grid trading occurs unconditionally
9. Use Panel (Panel ON/OFF): Toggle display/hide settings for the panel with manual buttons

Recommendations:

• Time Frame: M5 recommended
• AUDUSD: Minimum deposit $1500
• XAUUSD: Minimum deposit $3,000, Lot 0.01 (use .set file "lowrisk"), Recommended $6000 or more
• Other: EURUSD, GBPUSD and other Currency pairs (Use the .setfile of the guide)

The recommended set files is at the bottom.

Control panel:

You can change the display/hide of the panel using the button.

Settings:

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 Money Management function
• Auto Max Lots: Enable automatic maximum lot size using Money Management function
• Base Margin for each Lotsize: The amount of base funds for the Money Management feature (Amount for initial lot)

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".

Example: 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...

Daily Profit Stop

You can set a daily profit target. Once the target is reached, trading for that day stops. This feature is useful when you want to achieve the minimum necessary profit while reducing risk. For example, if you enter "10," trading will stop when a profit of $10 is reached (the unit is in your account currency).

• enable Daily Profit Stop: enable: true
• Daily Profit Stop Target: Target Price (Currency unit of your account)

Trade Parm

• Start LotSize: Start lot size
• Take Profit: Settlement profit
• Take Profit (DD Reduce): Settlement profit when DD Reduce function is used
• Slippage: Slippage
• Spread Filter: Select true to use spread filter
• Max Spread(Point): Set the spread value in points. If spread exceeds this value, no trade will be made
• Number of digits after the decimal point: 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

Trailing

• Use Trailing Stop: Enable trailing stop
• TrailStart pips: Trailing start value
• TrailStop pips: Trailing stop value
• Use Trailing Stop (DD Reduce): Enables trailing stop when DD Reduce function is used
• TrailStart pips (DD Reduce): Trailing start value when DD Reduce function
• TrailStop pips (DD Reduce): Trailing 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

Auto Set Distance by ATR: Calculate Distance automatically from ATR.
I recommend setting this to "true". This option sets Distance automatically according to the currency pair.

• ATR Time frame: H1 is recommended. I recommend that you do not change it
• ATR Period: Period of ATR (PRO Only)
• ATR_Ratio: If you want to adjust the Distance, adjust it by a ratio such as 0.9 or 1.1
• 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

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 Candle Filter: Whether to use a candle filter in trading
• Use Candle Filter to GRID: Whether to use a candle filter in GRID trading
• 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

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)
• Close positions at the end of trading time: Close positions at the end of trading time

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
• Close positions at the start of non-trad day of the week: Close positions at the start of non-trad day of the week

Non-Trade_Day

You can set 6 non-trading days.
Write mon/day, such as 9/3.

• Non-Trade Day1
• Non-Trade Day2
• Non-Trade Day3
• Non-Trade Day4
• Non-Trade Day5
• Non-Trade Day6

News Settings

If you selected News Source = ForexFactory.com
It is unnecessary if you choose "MQL5.com".

NOTE: News filter does not work at strategy tester. This is real-time module that provides great protection and works only at live trading.

• Use NEWS FILTER: Use NEWS FILTER
• News Source: Select the news source. Two options: Forexfactory (forexfactory.com) and MQL5_com (MQL5.com for MT5)
• LowNews: Activate weak news
• LowIndentBefore: The indent before a weak news release
• LowIndentAfter: The indent after a weak news release
• Close positions when waiting for LowNews starts: Close positions when waiting for LowNews starts
• MiddleNews: Activate medium news
• MiddleIndentBefore: The indent before a medium news release
• MiddleIndentAfter: The indent after a medium news release
• Close positions when waiting for MiddleNews starts: Close positions when waiting for MiddleNews starts
• HighNews: Activate strong news
• HighIndentBefore: The indent before a strong news release
• HighIndentAfter: The indent after a strong news release
• Close positions when waiting for HighNews starts: Close positions when waiting for HighNews starts
• NFPNews: Activate news of Non-farm Payrolls
• NFPIndentBefore: The indent before a news release of Non-farm Payrolls
• NFPIndentAfter: The indent after a news release of Non-farm Payrolls
• Close positions when waiting for NFPNews starts: Close positions when waiting for NFPNews starts
• DrawNewsLines: Activate to show the news lines on the chart
• LowColor: The color of weak news
• MiddleColor: The color of medium news
• HighColor: The color of strong news
• LineWidth: The line width
• LineStyle: The line style
• OnlySymbolNews: Set to "true" for news only for selected symbol. Set "false" to select all

Add Currency:
When "OnlySymbolNews" is set to "true", other currencies can be set as additional.
Comma separation. ex. GBP, EUR, JPY

Your Time Zone, GMT (for news): Time zone (GMT). GMT offset. Difference between GMT and broker's server time
Use this setting only if your news source is forexfactory.com.
Automatically set the GMT offset: Automatically sets the difference between GMT and the broker's server time.
Use this setting only if your news source is forexfactory.com.

Trend Reversal Loss Cut

• 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 / Account Balance)%

Loss Cut

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

Panel Setting

• UsePanel: Show panel
• Button Size Base: Button size on the panel
• Font Size Base: The font size of the panel

FAQ:

Important: This EA analyzes market conditions before trading, so it may not trade every day. Please read the FAQ for information about trading behavior.

If you have any questions, please read the guide and FAQ before asking.
Please ask the question in a message, not a comment.

Please read the FAQ here: https://www.mql5.com/en/blogs/post/757388

GOLD Edge PRO .Set Files (V3.1 or later):

GOLD Normal setting update 2024.3.10

MT5
Default

MT4
Default

Previous set file (~2024/3/10)
GOLD_Edge_PRO_MT5_M5_nomal_300.set
GOLD_Edge_PRO_MT5_M5_nomal_auto.set
GOLD_Edge_PRO_MT4_M5_nomal_300.set
GOLD_Edge_PRO_MT4_M5_nomal_auto.set

GOLD Low Risk update 2024.3.31

MT5
GOLD_Edge_PRO_lowrisk_MT5_M5_202404.set

MT4
GOLD_Edge_PRO_lowrisk_MT4_M5_202404.set

AUDUSD, EURUSD, GBPUSD and Other Currency update 2023.5.1

MT5
GOLD_Edge_PRO_Currency_MT5_M5.set

MT4
GOLD_Edge_PRO_Currency_MT4_M5.set

VIDEO's demo Setfile (Very Risky)

MT5 Only.

GOLD Edge PRO 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.