Gold Trader EA 3.0
Metatrader Expert Advisor (MT4)
This EA implements a fully functional grid trading strategy designed to trade Gold (XAUUSD). The EA uses data series extracted from the Federal Reserve Bank of St. Louis (FRED) to approximate the fair price of gold against the US Dollar, and adjusts the trading strategy accordingly.
- Easy to set up and supervise
- No indicators or hard analysis needed
- The strategy is timeframe-independent
- Extracts money out of the market regularly
- It blends a fundamental approach with a technical execution
The EA capitalizes on the fact that the price of gold tracks the amount of paper currency in circulation over long periods of time, with fluctuations around the mean. The EA offers many features and benefits:
- It needs no optimization
- It leaves no room for human error
- It is safe because it uses little leverage
- It has no discretionary input parameters
- It has built-in money and risk management
- It implements two risk profiles: recommended and overleveraged
- ≡ Input parameters
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Select your funds and risk profile
- You must instruct the EA how much money to allocate into the trading activity and the risk profile, which can be recommended or overleveraged. Both inputs are a drop-down list.
- Trading settings
- The EA decides when to buy or sell, but you can disable long or short positions.
- Colors and sizes.
- The EA displays informative lines and labels on the chart, which color and size you can customize.
- EA Settings
- Additionally, you can choose the magic number and comment for the orders.
- ? FAQ
- Can I trade other forex pairs with this EA?
- No, you can't. The EA will only trade XAUUSD.
- What timeframe should I trade with it?
- The EA uses no timeframes at all. Load it into XAUUSD at any timeframe and that's it.
- Can I select the lot size?
- No, you can't. The EA handles risk management according to your risk profile.
- How often is the EA updated?
- This expert advisor has constant updates, every 3-6 months.
- Is this strategy FIFO compliant?
- No, it is not.
- ✎ Comments
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