Advanced Gold Trend EA

Advanced Gold Trend EA is an automated scalping system which works on all gold. The EA isn’t available on the MQL marketplace, and you need to download it from third-party sources.

In this article, we’ll look at the Advanced Gold Trend EA, how it works, its strategy, features, and settings.

Advance Gold Trend EA Strategy

The Advanced Gold Trend EA is designed to trade on the gold market, although it can also be used to trade forex pairs. It is specifically developed to work on the 1-minute timeframe.

The strategy employed by the Advanced Gold Trend EA is based on the 3 Bar Reversal candlestick pattern. This pattern is formed when the current candlestick’s body completely engulfs the previous three candlesticks.

The first candlestick in the pattern is bearish, with a long body and a short wick. The second candlestick is bearish but has a shorter body and a long wick. The third candlestick is bullish and has a long body that completely engulfs the bodies of the previous two candlesticks.

Traders often use the pattern to identify potential trend reversals in the market. The EA utilizes this pattern to identify market entry and exit points.

When the third candlestick closes, the EA recognizes the 3 Bar Reversal pattern and enters a long position, betting that the trend will reverse and move upwards.

The EA places a stop loss order just below the pattern’s low to limit potential losses if the trend continues to move downwards.

Advanced Gold Trend EA also uses a News Filter. The News Filter is designed to help you avoid trading during high-impact news events that can cause significant market volatility.

The filter monitors news releases from various sources and can be customized to filter out specific events or types of events.

Advanced Gold Trend EA
Advanced Gold Trend EA

Advanced Gold Trend EA Features

  • The EA works on XAU/USD.
  • It uses a three-bar reversal pattern and works on only a 1-minute timeframe.
  • It is only available for MT4.
  • The EA can be used with any forex broker platform.
  • Advanced Gold Trend doesn’t require a minimum balance.

Advanced Gold Trend EA Settings

  • Cost averaging lot multiplier – The default lot size is 2.0.
  • Distance open trades – The default lot size is 13.0.
  • Stoploss – The default value is 0.0.
  • Takeprofit – The default value is 0.0.
  • Slippage – The default value is 5.0.
  • Fixed lot size – The default lot size is 0.1.
  • Max spread points – The default lot size is 50.0.
  • Trailingstop – The default value is 53.0.
  • Breakeven – The default value is 33.0.
  • Magic number – The default number is 737222.

Advanced Gold Trend EA Summary

The Advanced Gold Trend EA is an expert advisor designed for trading on the gold market and can also work on forex pairs.

It uses the 3 Bar Reversal candlestick pattern to identify potential entry and exit points in the market and is customizable to suit your specific preferences.

The EA has a News Filter which avoids trading during high-impact news events that can cause significant market volatility.

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