GOLD Edge & GOLD Edge PRO FAQ
Q2: Up to now, the EA was functioning correctly, however over the previous couple of days, it has not executed any trades. Why?
Q3: Not Buying and selling or Solely Taking One-Sided Trades: Why?
This fall: How ought to I alter the settings if the decimal locations are 3 digits?
Q5: How can I tackle the next error messages?
“Error: TrailStop Parameter is simply too small.”, “Error: DD TrailStop Parameter is simply too small.”
Q6: After I change the (GRID) lot multiplier to ‘1.3,’ why does it appear to have no impact? The lot dimension for all of the GRID stays at 0.01. Why?Q7: Can “GOLD” Edge be used with an actual account?
Q7: Can “GOLD” Edge be used with an actual account?
Q8: What strategies can be utilized to scale back danger?
Q9: Is there a setfile? / I need to know the parameters.
Q10: Is a Cease Loss not set? / Why is it talked about that Cease Loss is accessible however “not really helpful”?
Q11: If the commerce is transferring negatively and there’s no Cease Loss set, ought to I manually shut it?
Q1: What’s the distinction between GOLD Edge and GOLD Edge PRO?
A:
Listed below are the options of GOLD Edge PRO
- Information Filter:
The PRO model features a information filter. Throughout essential information bulletins, it is strongly recommended to pause buying and selling as a result of surprising value actions can happen. With the information filter, you possibly can handle this successfully. - Each day Revenue Cease:
You possibly can set a day by day revenue goal. As soon as the goal is reached, buying and selling for that day stops. This function is beneficial if you need to obtain the minimal vital revenue whereas decreasing danger. For instance, for those who enter “10,” buying and selling will cease when a revenue of $10 is reached (the unit is in your account forex). - Unfold Filter:
If the unfold exceeds a set worth, buying and selling may be stopped. This helps forestall losses when the unfold is massive. - Non-Buying and selling Days:
You possibly can designate particular days as non-trading days. This lets you keep away from buying and selling on days with larger danger, reminiscent of month-end or month-beginning days. Moreover, if there are open trades remaining on the desired non-trading days, you possibly can select to shut all of them. - Auto Set Distance:
In GOLD Edge, the “Distance” parameter units the grid interval. Totally different forex pairs could require totally different “Distance” values. GOLD Edge PRO routinely calculates the grid interval, making it appropriate for varied forex pairs. - Time to Commerce (Further Possibility):
In GOLD Edge, you possibly can set buying and selling hours. Within the PRO model, if the desired buying and selling hours are exceeded, all open trades at the moment may be closed. - Day of the Week to Commerce (Further Possibility):
GOLD Edge permits you to specify sure weekdays for buying and selling. Within the PRO model, if it’s a chosen non-trading day, all open trades at the moment may be closed. - Use Candle Filter (Filter ON/OFF):
The candlestick filter may be disabled. In GOLD Edge, throughout grid buying and selling, the choice to commerce is predicated not solely on the “Distance” interval but in addition on the candlestick filter for restoration course. Within the PRO model, you possibly can disable this filter (it’s enabled by default). When disabled, grid buying and selling happens unconditionally when the set distance is reached. - Use Panel(Panel ON/OFF):
You possibly can toggle the show/disguise settings for the panel. Moreover, there are guide buttons on the panel that mean you can change settings. Use these buttons to point out or disguise the panel as wanted.
Q2: Up to now, the EA was functioning correctly, however over the previous couple of days, it has not executed any trades. Why?
A:
“RSI Filter” for D1 and H1 timeframes is ready to “true” by default.
If the RSI exceeds this vary and is larger than the “max” worth, no Purchase trades are executed.
Conversely, if the RSI falls under the “min” worth, no Promote trades are executed.
As an illustration, throughout an uptrend, if the “RSI” surpasses the “Max” threshold, it gained’t set off a commerce although the pattern is upward.
In case you set the “RSI Filter” to False or widen the vary between “Min” and “Max,” the variety of trades will improve, however bear in mind that the chance will even rise.
Remember the fact that surprising sharp pattern reversals can happen if the RSI goes past its bounds.
Q3: Not Buying and selling or Solely Taking One-Sided Trades: Why?
A:
The next conditions could persist for a number of days, however the EA (Knowledgeable Advisor) is functioning accurately:
Not Buying and selling State of affairs:
If the RSI (Relative Power Index) is above 60 (indicating an uptrend), the EA will chorus from executing trades.
Equally, if the RSI is under 40 (indicating a downtrend), the EA will even keep away from buying and selling.
Nonetheless, if the EA shouldn’t be buying and selling in any respect, please examine whether or not its standing is ready to “Run.” If the standing shouldn’t be “Run,” there could also be configuration points.
One-Sided Buying and selling State of affairs:
If the day by day (D1) pattern is a downtrend or if the RSI is above 60, the EA is not going to provoke purchase trades.
Conversely, if the D1 pattern is an uptrend or if the RSI is under 40, the EA will skip promote trades.
This fall: How ought to I alter the settings if the decimal locations are 3 digits?
A
For this EA, the default value show for XAUUSD is predicated on 2 decimal locations (e.g., “2804.31”). Nonetheless, if the worth show has 3 decimal locations (e.g., “2804.317”), you’ll want to regulate the next settings by rising the values from 250 to 2500 (i.e., including one digit):
- Take Revenue (level): default = 250 → 2500
- Take Revenue (DD Cut back / level): default = 250 → 2500
- Slippage (level): default = 20 → 200
- Max Unfold (Level): default = 50 → 500
- TrailStart pips (level): default = 100 → 1000
- TrailStop pips (level): default = 30 → 300
- TrailStart pips (DD Cut back / level): default = 60 → 600
- TrailStop pips (DD Cut back / level): default = 30 → 300
- Distance (level): default = 300 → 3000″
Q5: How can I tackle the next error messages?
“Error: TrailStop Parameter is simply too small.”, “Error: DD TrailStop Parameter is simply too small.”
A:
In case you encounter these errors, it implies that the “TrailStop” parameter is ready too low. To resolve this, comply with these steps:
- Examine together with your dealer to find out the suitable worth for the “StopLevel.” This worth ought to be bigger than the minimal worth displayed as “MIN.”
- Regulate the “TrailStop” parameter to a barely bigger worth than the minimal (MIN) setting.
Make certain to set the next parameters accordingly:
- TrailStop pips (level)
- TrailStop pips (DD Cut back / level)
Q6: After I change the (GRID) lot multiplier to ‘1.3,’ why does it appear to have no impact? The lot dimension for all of the GRID stays at 0.01. Why?
A:
If the preliminary lot dimension is 0.01, it stays unchanged after making use of the multiplier of 1.3. The results of 0.01 × 1.3 is 0.013,
which will get rounded right down to 0.01 as a result of minimal lot dimension constraint.
Q7: Can “GOLD” Edge be used with an actual account?
A:
Sure, GOLD Edge can be utilized with an actual account. There aren’t any buying and selling restrictions.
Q8: What strategies can be utilized to scale back danger?
A:
Beneath, I’ve supplied a number of suggestions for decreasing danger. Observe that gadgets 4, 5, 6, 7, and eight can be found solely within the PRO model. Remember the fact that decreasing danger may additionally result in decreased earnings attributable to fewer trades. With that understanding, let’s discover the next methods:
RSI Settings: Use RSI Filter
- Set the RSI (Relative Power Index) on the day by day (D1) chart to MAX 50 and MIN 50.
- Regulate the RSI values on the hourly (H1) and present timeframes by rising the minimal (Min) and reducing the utmost (Max) to scale back danger.
Commerce Throughout Particular Occasions: Time to Commerce
- Sure occasions, reminiscent of New York buying and selling hours, carry larger danger.
- Configure your buying and selling schedule to keep away from these riskier occasions.
Day of the Week to Commerce
- Weekend buying and selling may be riskier. Think about disabling buying and selling on particular days, reminiscent of the primary Friday of the month.
Information Filter: Information Settings (PRO solely)
- Main financial indicators could cause important value fluctuations, rising danger.
- Regulate the time round information releases to mitigate danger.
Non-Commerce Days: Non-Trade_Day Settings (PRO solely)
- Danger tends to be larger on the finish or starting of the month.
- Specify non-trading days (dates you understand prematurely) to scale back danger.
Shut Open Positions Based mostly on Time and Day Settings (PRO solely)
- When making use of filters associated to information, weekdays, particular dates, or occasions, contemplate closing open positions quickly.
- Though this may increasingly end in short-term losses, it will possibly assist keep away from subsequent dangers attributable to market fluctuations.
Unfold Filter (PRO solely)
- Keep away from buying and selling during times of excessive unfold (the distinction between bid and ask costs).
- Excessive spreads typically coincide with irregular value actions.
Each day Revenue Cease (PRO Solely)
- Use the “day by day Revenue Cease” function to restrict buying and selling as soon as a sure revenue stage is reached.
- This upcoming function (anticipated in model 4.0) permits you to limit dangerous trades.
Minimal Free Margin Setting
- Set the minimal free margin to round 50%.
- This may forestall extreme drawdown even when losses happen.
Lot Multiplier for Giant Deposits
- As an alternative of accelerating the preliminary lot dimension for bigger deposits, think about using the next “Lot Multiplier.”
- This method accelerates restoration from drawdowns and reduces danger.
Keep in mind to adapt these methods to your particular buying and selling fashion and danger tolerance.
Q9: Is there a setfile? / I need to know the parameters.
A:
You possibly can obtain the setfile from the information supplied within the hyperlink under. Moreover, the information comprises explanations for the parameters. Please word that solely the setfiles talked about within the information can be found. We don’t customise particular person settings for purchasers.
GOLD Edge PRO GUIDE: https://www.mql5.com/en/blogs/put up/752711
GOLD Edge GUIDE: https://www.mql5.com/en/blogs/put up/750375
Q10: Is a Cease Loss not set? / Why is it talked about that Cease Loss is accessible however “not really helpful”?
A:
That’s as a result of this EA (Knowledgeable Advisor) operates on a grid buying and selling system. Grid buying and selling entails shopping for and promoting at common intervals in response to market fluctuations. When the newest commerce, mixed with older trades, ends in an general revenue, the system triggers a closure. With this technique, it’s potential to make a revenue whatever the market’s course. Subsequently, a Cease Loss shouldn’t be set. Cease Loss is a method to restrict losses, however in grid buying and selling, earnings are derived from leveraging market actions, so it’s not all the time vital. Nonetheless, if the market strikes considerably in a single course, there’s a short lived danger of elevated losses. It’s important to know this danger and configure deposit and preliminary lot settings accordingly.
Q11: If the commerce is transferring negatively and there’s no Cease Loss set, ought to I manually shut it?
A:
For this EA, which employs grid buying and selling, keep away from manually closing trades. Ultimately, it is going to both flip optimistic and routinely shut or proceed grid buying and selling till an general revenue is achieved, triggering an computerized closure. Since this EA is designed for automated closures, chorus from manually closing trades with no particular motive.
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