GOLD EAgle mt4
GOLD EAGLE is a swing strategy ideal for a flat market, which takes up to 80-90% of the time.
The GOLD EAGLE EA is optimized for the XAUUSD (GOLD) pair. This is a trend scalping strategy using the TrendLine PRO indicator as an input signal.
The EA opens the first order at the signal of the indicator and fixes the profit at a given level, but if the price does not reach the profit and rolls back, an additional order automatically opens averaging the level of the total profit making it closer to the entry point.
A series of orders always closes at a profit thanks to the built-in DrawDown Reduce function, which closes the most unprofitable and most profitable orders in the series at the common profit point.
All trades opened by the trader manually or automatically will be closed with a profit using the DrawDown Reduce Function settings. This function will automatically close the most unprofitable and the most profitable orders in the series reducing the drawdown on the account
Manual guide + set files: here
Advantages of GOLD EAGLE:
You get profit from trading every day
It can work with other EAs and trading systems
The EA has a trading panel that allows the trader to open trades manually. All trades, opened through the trading panel, are managed by the EA and are closed with profit automatically
How to set up GOLD EAGLE:
Simply add the EA to the XAUUSD H1 chart and activate the auto-trading function in the Expert Advisor and in the MetaTrader terminal
To activate the news filter, you need to add the website address in the settings of the MetaTrader. Learn more: here
Make sure your VPS and internet connection are stable
Use only a hedge account and leverage from 1:200
Low spread brokers are recommended
How to test the GOLD EAGLE EA:
Before testing, make sure that there is a quote history for the XAUUSD symbol
Since the EA trades at the opening prices, use the opening prices or 1M HCL
To speed up the tests, disable the functions in the settings: Show Panel, Calculate Profit and Show Break Even line
Use the default settings for the M15 graph
How to avoid unpleasant market fluctuations:
To filter strong trend price fluctuations, the EA has a Higher Time Frame filter, it allows new trades to be opened only if the signal of the current period coincides with the trend of the older period
Set up a news filter (News Filter) so that the EA can make a pause in trading before and after the release of important news.
Use the Buy/Sell Zone lines on the trading panel to define zones for buying or selling transactions only. Learn more about this in the blog
Historical data does not guarantee that you will get the same profit in the future If you follow the rules of reasonable money management and hedge your risks, you will get a stable profit on the Forex market