Gold Harmonic EA

The Gold Harmonic EA is an automated trading robot that scalps gold based on harmonic price action patterns. The EA is designed to trade the XAU/USD pair on 5 and 15-minute timeframes, placing a buy or sell order according to the signal type.

In this comprehensive review, we will take a closer look at the strategy, features, settings, and performance of the Gold Harmonic EA and provide insights into its overall value for traders. By the end of this review, readers will have a clear understanding of the Gold Harmonic EA and be able to decide whether it is the right trading tool for their needs.

Gold Harmonic EA Strategy

The Gold Harmonic EA is a specialized robot that focuses on scalping gold using harmonic price action patterns. The EA scans 5-minute and 15-minute timeframes to detect gold symbols and places buy or sell orders based on the type of harmonic signal detected. One of the features of this EA is its use of Harmonic patterns, which are specific price patterns that indicate potential trend reversals and use them to identify potential entry and exit points in the gold market. By focusing on these specific patterns, the EA can execute trades efficiently.

Gold Harmonic EA
Gold Harmonic EA

Unlike some trading robots, the Gold Harmonic EA does not use dangerous strategies such as martingale or hedging. This approach reduces the risk of potential losses. Additionally, the EA has a single take profit (TP) and stop loss (SL) feature, which helps to minimize the impact of losses. The EA also features a trailing stop and maximum spread point, allowing traders to minimize their risks. This feature is handy when trading gold, as the market is known for its volatility and price fluctuations.

Although the Gold Harmonic EA has many strengths, there are also some weaknesses. One of the main weaknesses is that the EA is only designed to be used on gold symbols. This may limit the flexibility of traders who want to diversify their portfolios. Additionally, The EA relies heavily on historical data and patterns to identify trade opportunities. This means that it may struggle to adapt to sudden or unexpected changes in market conditions, leading to missed trades or losses.


Gold Harmonic EA Features

  • A specialized robot designed for scalping gold based on harmonic price action patterns on currency pairs
  • Operates on 5 to 15-minute time frames.
  • Uses harmonic patterns to identify potential entry and exit points in the gold market with high accuracy and precision
  • Does not use dangerous trading strategies such as martingale or hedging
  • Uses a single take profit (TP) and stop loss (SL) feature to minimize the impact of losses
  • Features a trailing stop feature, which allows traders to minimize risks
  • Features a point of maximum spread, which helps traders to avoid trading during periods of high volatility and large spreads
  • It can be used with various brokers, although large and well-known brokers are recommended
  • TP and SL settings are hidden but can be adjusted by the trader
  • Focuses solely on gold symbols, which may limit diversification opportunities

Gold Harmonic EA Settings

  • Magic – Magic number
  • Risk Percentage – Risk percentage per trade
  • Break Even – Activates break even function
  • Trailing Stop – Allows for automatic trailing of stop loss
  • Trailing On/Off – Enables or disables the trailing stop feature
  • Trailing Start – Sets the distance in points from the current price to activate the trailing stop
  • Trailing From – Sets the distance in points from the highest profit level to start trailing
  • Trailing Step – Sets the trailing stop step in points
  • Point of Maximum Spread – Activates maximum spread filter to avoid trading during periods of high volatility
  • Alert Display – Activates alerts to notify traders of important events
  • Alarm Display Notification – Sends notifications to traders’ mobile devices or email
  • Activate Trading Hours – Sets the start and end hours for trading
  • Long and Short Trades Allowed – Enables or disables trading in both directions
  • Manual Batch – Allows for manual order placement
  • Comment Transaction – Allows traders to add comments to their transactions
  • Take Profit – Sets the profit target for each trade in points
  • Stop Loss – Sets the maximum loss amount for each trade in points
  • Filter – Sets various filters for trade selection, such as currency pair or trading session.

Gold Harmonic EA Summary

The Gold Harmonic EA is a specialized expert advisor designed to scalp the gold market based on harmonic price action patterns. Its strengths are identifying entry and exit points using harmonic patterns and features such as a single take profit and stop loss, trailing stop, and maximum spread filter.

While the EA does not use dangerous trading strategies such as martingale or hedging, it is not without its weaknesses, such as its focus solely on gold symbols and its limitations on diversification opportunities. It is important to demo-test the EA and apply good risk management settings before using it in a live trading environment.

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