Dark Gold EA is an automated trading software that uses complex algorithms to analyze and execute trades in the Forex market. Developed by a team of experienced traders and software developers, Dark Gold EA claims to offer some benefits for its users through its advanced trading strategies. This Expert Advisor 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 Dark Gold EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Using the Dark Gold EA
The Dark Gold EA is designed to work on various pairs, though Gold, Bitcoin, Eurusd and Gbpusd seem to stand out. The built-in algorithm will constantly analyse the pairs on which chart the EA is applied, searching the charts for buy and sell signals. When the Dark Gold expert advisor finds an opportunity, it can place and manage trades on behalf of the user.
Dark Gold is a completely automated Expert Advisor for Scalping Trading on Gold, Bitcoin, the Euro, and the Pound Sterling. This Expert Advisor requires attention because it is extremely customizable. Dark Gold is built on the Dark Support Resistance indicator (which is not required as it is built-in), and these trades can be managed using various strategies. The fundamental strategy begins with a market order in Trend Following, indicating that this EA follows the trend. However, in a counter-trend approach, you can change it. To achieve a decent result, the developer recommends that the trader read the user manual and create their own settings. All of the options are external, so anyone can configure the robot as they see fit.
Recommendations by the Developer for using the Dark Gold EA
- The Recommended Timeframe is determined by your settings, but you can use M5, M15, H1, and any other timeframe with the proper parameters.
- With the proper settings, the Expert can go on Gold (Xauusd), Bitcoin (Btcusd), EURUSD, and GBPUSD, but also on others.
- It is always better to use an ECN broker.
- A low latency virtual private server is always suggested.
- The suggested leverage and deposit are determined by the settings.
Features of Dark Gold EA
- Multiple Currency Pairs: Dark Gold EA can trade multiple currency pairs simultaneously. This allows traders to diversify their portfolio and reduce the risk of losses.
- Risk Management: One of the key features of Dark Gold EA is its advanced risk management system. It uses a stop loss and take profit strategy to minimize losses and maximize profits.
- Scalping Strategy: Dark Gold EA uses a scalping strategy, which involves making a large number of small trades to accumulate profits over time. This strategy is known to be advantageous in the Forex market.
- Backtesting: Dark Gold EA has been extensively backtested to ensure its performance in different market conditions. This provides traders with the confidence to use the software in live trading.
- 24/7 Trading: Dark Gold EA can trade 24/7, which means that it can take advantage of opportunities in the Forex market even when the trader is not actively monitoring the software.
Dark Gold EA Settings
- Magic number: Enter any unique number to easily identify Dark Gold trades in your history.
- Max Spread: The largest spread that can be traded.
- Lots: The number of lots available if the money management option is turned off.
- Money Management: If true, the money management choice is enabled.
- Risk Percent: If the money management option is set, the risk percentage is displayed.
- Dark Support and Resistance Periods: Indicator Periods.
- Support Levels Enabled: If true, support levels are enabled.
- Activate Resistance Levels: If true, resistance levels are enabled.
- Strategy to use: The strategy to use is either trend tracking or counter trend.
- Dark Support Resistance Timeframe: The Dark Support Resistance Indicator’s timeframe.
- Activate Time Filter: If true, the time filter is enabled.
- Trading Start Minute: Operating start minutes.
- Trading Start Hour: Operating start hour.
- Trading Stop Hours: End of operating hours.
- Trading Stop Minutes: Operational end-of-day minutes.
- Out of hours: At the conclusion of the timetable, close all orders.
Dark Gold EA Summary
Dark Gold EA is a trading algorithm that uses a combination of technical indicators and price action analysis to make trading decisions in the Forex market. The algorithm is designed to try and identify profitable trading opportunities and execute trades automatically.
The Dark Gold EA is built to run on the MetaTrader 4 trading platform and can be used on any currency pair. The algorithm uses a number of technical indicators, including moving averages, relative strength index (RSI), and stochastic oscillator, to analyze market trends and identify potential trade entries.
The Dark Gold EA also incorporates price action analysis, which involves studying candlestick patterns and chart formations to identify key levels of support and resistance. This helps the algorithm to identify optimal entry and exit points for trades.
The Dark Gold EA is fully customizable and includes a number of adjustable parameters, including lot size, stop loss and take profit levels, and trading hours. The algorithm is designed to be user-friendly and can be used by traders of all experience levels.
Overall, the Dark Gold EA could be a beneficial trading algorithm. However, as with all trading strategies, there is no guarantee of success and traders may want to exercise caution and use appropriate risk management strategies.
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.
