An advanced Gold trading EA can help you to eliminate your emotions during your trades. We’ve been working on this Expert Advisor for several months, and we’re excited about our results.
We’re giving the EA to you for free. So, after reading this post, you will see how to download and test this Advanced Fold Trading Expert Advisor.
What Is a Gold EA?
An EA or Expert Advisor is a robot we can use to trade on MetaTrader. Many traders like to use MetaTrader for algorithmic trading.
We’ll soon have a new tool for you that will be useful for algorithmic trading and strategy signals on TradingView. We’ll let you know when that app is ready.
The strategy behind this advanced gold trading EA we will share in this post will work on any platform. We always test the strategies that we share on our blog.
This advanced gold trading EA makes over $600 per day if you’re trading one lot. This strategy was backtested over 200 times.
Candlestick-Based Advanced Gold Trading EA
This advanced gold trading EA uses candlesticks. So, you won’t need to worry about many other signals. You’ll need to observe the color of the candlesticks.
Our Entry Signal
We have a simple entry signal. So, we’ll look for three bearish candlesticks before we buy.
When you look at the indicator chart in EA Studio, wait to see three bearish candlesticks. When the fourth candlestick opens, you should buy.
Candlesticks Represent Time
Remember, candlesticks represent time. So, if you open the Gold chart on TradingView, one candlestick represents one day. So, the last bar that you see represents the present time (today).
This advanced gold trading EA works on the M1 (1-minute) time frame. So, each candlestick represents one minute.
The difference between a daily and 1-minute time frame is significant. This strategy will not work on a daily time frame.
Entry Signal
Our sell signal is the opposite of our buy signal. So, if we see three bullish candlesticks, that’s a signal to sell.
We can get very specific with the body height of the candlesticks that we use for our buy or sell signals. So, we can go into the Editor and set a minimum body height of 35 pips.
When we do that, we’ll need to see three consecutive candlesticks in the same direction. All three candlesticks must exceed the minimum body height. That’s how we enter or exit a trade.
Exit Condition for the Advanced Gold Trading EA
We can use the Accelerator Oscillator to confirm our exit. So, the Accelerator Oscillator should be lower than the level line.
We use a level of -1.75. The Accelerator Oscillator goes above and below the zero line. It forms green bars when it rises. It forms red bars when it drops.
So, we need to ensure that the Accelerator Oscillator is going below -1.75 before we exit a long trade. We also use a Stop Loss with our advanced gold trading EA.
For beginners, a Stop Loss is a level where you’ll automatically exit the trade if the price reaches that price. For example, if we bought gold at $1,700 and we have a stop loss of $28 we would exit the trade when the price goes down by $28. So, we would exit the trade at $1,672.
When we use a robot to trade and put our Stop Loss in it, the trade will close automatically when the price reaches there. The robot will also automatically enter the trade.
Opposite Signals
If you see the opposite signal, reverse it with this advanced gold trading EA. So, if you buy but get the opposite signal, you should reverse the trade. So you should close the buy trade and open a short trade.
We bought gold at $1700, and we have a Stop Loss of $28 lower, that would be $1672. So, we should exit that trade when the price goes down by $28.
Remember, with this advanced gold trading EA, if we see three negative candlesticks, it means that it’s time to buy. You should always watch for the opposite signals with any asset, whether you’re using M1 scalping strategies or advanced gold trading.
Even if you’re investing in Bitcoin and you think it will rise in time, if you see the opposite signal then you should close the trade. Take your profit and wait for the next opportunity.
Sometimes you need to reverse your trade, so you can go short and take profits on the other side. If you see at the entry point that the price is going up, it’s time to buy.
You can close your short trades and open long ones because you see the opposite signal.
Final Thoughts on This Advanced Gold Trading EA
This is a good strategy, but like any other strategy, you must pay attention to and respond to the signals. Being willing to reverse is something that will change your trading.
If you can observe the developments on the chart and apply them, you’ll become successful in trading. So, if you get the robot on our YouTube channel, you can backtest it yourself on MetaTrader.
Always test it with a Demo account first. Don’t use real money until you’re satisfied with its performance. However, remember that when you backtest the strategy, that doesn’t mean that your strategy will perform in the same way in the future.
Even so, we prefer to trade with profitable strategies in the last few months. Random strategies from the market are risky if we don’t have any proof of their performance.
Thanks for reading this post. We hope you found it helpful. And click that button if you wish to download the Robot: