The Aura Black Edition EA is a fully automated trading strategy that is developed for trading gold in the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. It can be purchased from the MQL marketplace whilst there is a free demo version also available to give it a try before making any commitment. In this article, I will be taking a look at how the Aura Black Edition EA works along with its strategy, features and settings. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Aura Black Edition EA Strategy
The Aura Black Edition EA implements a unique gold trading strategy. The built-in algorithm will constantly analyse the XAU/USD daily chart timeframes for buy or sell signals. When the Aura Black Edition expert advisor finds an opportunity, it can place and manage trades on behalf of the user.
The Aura Black Edition EA strategy is trained with a multilayer perceptron Neural Network (MLP) and a class of feedforward artificial neural network (ANN). The term MLP is used ambiguously, sometimes loosely to any feedforward ANN, sometimes strictly to refer to networks composed of multiple layers of perceptron’s (with threshold activation). Multilayer perceptron’s are sometimes colloquially referred to as “vanilla” neural networks, especially when they have a single hidden layer.
An MLP consists of at least three layers of nodes: an input layer, a hidden layer and an output layer. Except for the input nodes, each node is a neuron that uses a nonlinear activation function. MLP utilizes a supervised learning technique called backpropagation for training. Its multiple layers and non-linear activation distinguish MLP from a linear perceptron. It can distinguish data that is not linearly separable.
It is worth noting that the Aura Black Edition robot does not use any dangerous methods of money management including martingale or grid strategies. It uses a hard stop loss and take profit for each position. It also does not use a scalping system which means it might not be as dependant on low spreads as some other gold trading robots. That being said, the lower the broker spreads and commission fees, the better. This can help to save on trading costs in the long term.
Aura Black Edition EA Features
- Trades on the XAU/USD (gold)
- Developed for the daily chart timeframe
- Can be use on any MetaTrader 4/5 ECN broker
- Uses Neural Networks for finding trading signals
- Fully automated trading strategy
- Customisable settings including optimised preset files
- Built-in money management features
Aura Black Edition EA Settings
- Lot for Balance – Automatic lot calculation volume
- Balance – Automatic lot calculation step
- Fix Lot (if 0 then Auto) – Fix lot
- Number of Opened Deals – maximum orders
- Time to Start Hour – Start hour to open trades
- Time to Finish Hour – End hour to open trades
- Comments – Comments
- Magic – Magic number
- Open Opposite Deals – Enable opposite direction logic
- Max Spread – Spread filter
- Trailing On/Off – Trailing stop on/off
- Trailing Start – Trailing start in points
- Trailing From – Trailing from in points
- Trailing Step – Trailing step in points
- Use Breakeven – Breakeven function
- Take Profit – Take Profit in points
- Stop Loss – Stop Loss in points
Aura Black Edition EA Summary
Overall, I see some potential with the Aura Black Edition EA for anyone looking to trade gold automatically in either of the MetaTrader platforms. It implements a unique trading system based on neural networks so should be able to dynamically adjust to the current market conditions.
It avoids using any dangerous money management and the developer has shared some backtests for you to get an idea of how the Aura Black Edition expert advisor has performed over recent years through different market conditions. These back tests are limited to 90% modelling quality which means they have not used tick data so do not account for real variable spreads, commission or slippage. There are all factors that can have a huge impact on results.
It is important to note that past performance does not guarantee good results moving forward. Therefore, I would only test the Aura Black Edition EA on a demo account using a trial version to begin with. This would allow me to get a feel for how it works and see if it fits within my own trading style. The Aura Black Edition robot is also quite expensive compared to some other forex robots which I have previously reviewed.
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