The Algo 2.0 Gold EA is a forex robot designed to trade gold and currency pairs on the MetaTrader 4 platform. It offers an automated trading solution for traders who wish to save time and streamline their trading processes.
In this Algo 2.0 Gold EA review, we’ll take a closer look at the features, settings, and trading strategy of this expert advisor. By the end of this article, you’ll have a comprehensive understanding of whether the Algo 2.0 Gold EA is right for you.
Algo 2.0 Gold EA Strategy
The Algo 2.0 Gold EA is an automated trading tool. It uses non-martingale and filtered trend-following strategies to open and close trade positions on autopilot. Non-Martingale strategy is a trading approach that does not increase the position size after a loss. It is developed to work on the MetaTrader 4 platform.
To employ the Algo 2.0 GOLD EA on the MetaTrader 4 platform, go to “File,” select “Open Data Folder,” open the “MQL4” folder, drag and drop the EA file into the “Experts” folder, and then restart the platform and attach the EA to the chart. The EA has multiple input parameters and values that can be easily adjusted and tested. Its key features include compatibility with NFA and FIFO regulations.
It trades mainly on the XAUUSD (Gold) pair and other currency pairs such as GBPUSD, GBPJPY, USDJPY, EURUSD, EURJPY, and EURCHF. The EA is designed to work on any timeframe. There is a recommended minimum account balance of $200, as stated by the developer.
The Algo 2.0 Gold EA is a paid forex robot and includes a license for unlimited demo and live trading accounts. The EA includes a preset file and a news filter to avoid trading during high-impact news events. It also includes free updates and customer support. However, it requires proper setup and configuration, including selecting the right settings and timeframes, as well as ensuring proper risk management.
Algo 2.0 Gold EA Features
- Designed to trade Gold and multiple currency pairs
- Can be used on any time frame
- Fully compatible with NFA and FIFO
- Can be used on unlimited trading accounts, both demo and live
- Uses a Non-Martingale strategy
- News Filter Included
- Developed for Metatrader 4 platform
- Unlimited demo and live trading accounts
Algo 2.0 Gold EA Settings
- Magic- unique identifier for the EA’s trades
- Lots- the size of each trade position
- Take Profit (pips)- the desired profit level in pips at which the EA will close a trade
- Trades Per Day- It is a setting that determines how many trades the EA will open per day.
- Risk Level- It is a setting that determines the amount of risk that the Algo 2.0 Gold EA will take on each trade.
- Target Equity To Reach- the desired equity level in USD at which the EA will stop trading
- Virtual Take Profit- whether or not the EA should use a virtual take profit
- Time Filter- the time filter settings for the EA’s trades
- Start Hour (Broker Time)- the start time for the time filter
- End Hour (Broker Time)- the end time for the time filter
Algo 2.0 Gold EA Summary
The Algo 2.0 Gold EA is an automated trading tool that is specially designed for the forex market. It uses non-martingale and filtered trend-following strategies to automatically open and close trade positions. The EA can be used by traders of all levels of experience on unlimited demo and live trading accounts. However, it is important to note that there are no guarantees in forex trading, and the Algo 2.0 Gold EA should not be seen as a guaranteed way to make profits. It is recommended to backtest the EA and apply good risk management settings before using it on a live trading account.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
