The Gold Hero expert advisor for Meta Trader 4 is an automated Forex robot that trades the gold charts as well as a number of currency pairs. In order to outperform the market, the expert advisor employs trend-following trading strategies as well as averaging techniques. Because of its improved money management, the Gold Hero EA does not cause extreme losses in volatile markets (equity guard function).
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 Gold Hero EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Trading with Gold Hero EA
Trend following strategies and averaging methods are two popular approaches to trading and investing in financial markets. Here’s an overview of how these strategies work:
Trend following strategies
Trend following is a trading strategy that aims to capture profits by following the trend of a market or asset. This approach involves buying or selling an asset when its price moves in a particular direction, either up or down, with the expectation that the trend will continue. Trend following strategies can be based on various technical indicators, such as moving averages, relative strength, and momentum.
Averaging methods are a family of techniques used to smooth out fluctuations in data over time. In finance, averaging methods are commonly used to calculate moving averages, which are used in many trend-following strategies. Moving averages are calculated by taking the average price of an asset over a certain period of time, such as the last 20 days or the last 50 days. By using moving averages, traders and investors can smooth out short-term fluctuations in an asset’s price and identify longer-term trends.
One common averaging method is the simple moving average (SMA), which is calculated by taking the sum of the prices over a specified period and dividing it by the number of periods. Another averaging method is the exponential moving average (EMA), which gives more weight to recent prices and is thought to be more responsive to changes in the trend.
Gold Hero EA Input Parameters and Settings
By going to the EA’s “Inputs” tab, you can change the following input parameter values:
- Increase lot
- Maximum increase lot
- Trend power
- Manual lot size
- Take profit
- Trend take profit
- Maximum trend trades
- Equity stop
- Equity guard
Overall, trend following strategies and averaging methods, which the Gold Hero EA utilizes, can be effective ways to capitalize on market trends and generate profits in the financial markets. However, as with any trading strategy, it is important to carefully manage risk and continually monitor market conditions to adjust the strategy as needed. Traders may want to ensure that they are comfortable with the techniques the Gold Hero EA uses to trade before purchasing this trading robot.
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