Golden Lion EA

Golden Lion is a multi-currency trading Expert Advisor designed for intraday trading. The EA includes an advanced entry filter, which carefully analyzes each potential market entry point and eliminates false entry points. To maximize profit, a multi-stage profit fixing algorithm and a two-level trailing stop with a breakeven function were used. The EA includes high spread protection and a flexible economic news filter for added security.

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 Golden Lion EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.

Intraday Trading with Golden Lion EA

Intraday trading in forex, also known as day trading, involves opening and closing positions within the same trading day. The goal of intraday trading is to take advantage of small price movements in currency pairs and generate profits from short-term market fluctuations. Golden Lion EA is designed for intraday trading.

Here are some key things to keep in mind when engaging in intraday trading in forex:

  1. Timeframe: Intraday trading typically involves using shorter timeframes, such as 5-minute, 15-minute, or 1-hour charts, to identify trading opportunities and make decisions based on price action.
  2. Volatility: Trading during times of high market volatility may be preferable, when currency pairs are more likely to move rapidly and offer more opportunities for profit.
  3. Risk management: Since intraday trading involves taking positions that are open for only a short period of time, it is important to have a solid risk management strategy in place. This may include using stop loss orders to limit potential losses, and only risking a small percentage of your trading account on each trade.
  4. Technical analysis: Intraday traders often rely on technical analysis to identify trading opportunities and make decisions based on chart patterns, indicators, and other technical factors.
  5. News and economic data: Keeping an eye on news and economic data releases, which can have a significant impact on currency prices and volatility, is important.
Golden Lion EA
Golden Lion EA

Golden Lion EA Parameters

  • FixLot – fixed trading lot.
  • AutoLot – automatic calculation of the trading lot.
  • Risk – trading risk, %.
  • MainTP – main TP, point.
  • MinTP – minimum TP, pips.
  • MaxSL – maximum SL, pips.
  • StartTrail – starting trailing stop, pips.
  • MainTrail – main trailing stop, pips.
  • TPParts – number of profit fixing steps.
  • SpreadFilter – protection against spread expansion.
  • MaxSpread – maximum allowable spread, pips.
  • NewsFilter – economic news filter.
  • LowNews – low importance news control.
  • DelayBeforeLow – pause before release of news with low importance, min.
  • DelayAfterLow – pause after news release with low importance, min.
  • LowNewsColor – low importance news display color.
  • MiddleNews – control of news of average importance.
  • DelayBeforeMiddle – pause before release of medium importance news, min.
  • DelayAfterMiddle – pause after medium importance news release, min.
  • MiddleNewsColor – medium importance news display color.
  • HighNews – high importance news control.
  • DelayBeforeHigh – pause before release of news with high importance, min.
  • DelayAfterHigh – pause after release of news with high importance, min.
  • HighNewsColor – high news color line.
  • NFPNews – detect NFP news.
  • DelayBeforeNFP – pause before release of NFP news, min.
  • DelayAfterNFP – pause after release of NFP news, min.
  • NFPNewsColor – NFP news color line.
  • ShowNewsLines – show graphic news lines.
  • ServerGMT – broker’s server GMT value.
  • TimeFilter – use time filter.
  • StartHour – trading start, hour.
  • StartMinute – trading start, min.
  • StopHour – trading stop, hour.
  • StopMinute – trading stop, min.
  • TradeMonday – trade on Monday.
  • TradeTuesday – trade on Tuesday.
  • TradeWednesday – trade on Wednesday.
  • TradeThursday – trade on Thursday.
  • TradeFriday – trade on Friday.
  • MaxRSTrades – number of RS trades.
  • MaxDepoLoad – maximal deposit usage, %.
  • ShowInfoPanel – show information panel.
  • OrderComments – expert orders comments.
  • Magic – expert orders unique identifier.

Conclusion

In conclusion, the Golden Lion EA uses intraday trading strategy to automatically execute trades on behalf of the traders. Intraday trading in forex can offer traders the opportunity to profit from short-term price movements in currency pairs. However, it requires discipline, skill, and careful risk management, as intraday traders are exposed to significant volatility and liquidity risks.


Free Forex Robot