Gold4L Clover

Gold4L Clover EA

Overview: Gold4L Clover EA is a powerful automated trading system designed specifically for trading the GOLDUSD pair. This Expert Advisor operates on a daily timeframe, implementing a robust strategy that places multiple pending orders daily based on historical price levels. With a focus on risk management and optimized performance, Gold4L Clover EA ensures high trading precision and profitability.

Key Features:

• Trading Instrument: GOLDUSD
• Timeframe: Daily
• Order Types: Pending orders (Buy Stop and Sell Stop)
• Equity Range: Operates within a user-defined equity range to ensure safety and proper capital management.
• Lot Size: Adjustable lot size with a default of 0.02.
• Trading Hours: Configurable start and end hours, allowing trades only within specified times.
• Take Profit and Trailing Stop: Configurable take profit points and trailing stop points for optimal trade exits.
• Multiple Trades: Capable of placing multiple trades each day, with the number of trades configurable by the user.
• Risk Management: Ensures there is sufficient margin available for each trade and validates trade volume according to broker requirements.

Parameters:

• MinEquity: Minimum account equity required to trade (default: 100).
• MaxEquity: Maximum account equity allowed for trading (default: 100000).
• LotSize: Default lot size for each trade (default: 0.02).
• StartHour: Trading start hour (default: 0).
• EndHour: Trading end hour (default: 23).
• TakeProfitPoints: Points for take profit (default: 100).
• TrailingStopPoints: Points for trailing stop (default: 6).
• NumberOfTrades: Number of trades to place each day (default: 4).

Functionality:

• Pending Orders: Places buy stop and sell stop orders based on the previous day's high and low prices.
• Trailing Stop: Dynamically adjusts stop-loss levels to lock in profits as the market moves favorably.
• Margin Check: Ensures there is sufficient margin available for each trade before placing orders.
• Volume Validation: Confirms that the trade volume complies with the broker's minimum and maximum volume requirements.

Detailed Description: Gold4L Clover EA is designed to place pending buy and sell stop orders at the previous day's high and low prices, respectively. The EA checks if the current equity is within the specified range before placing trades. It ensures that the last order was not placed on the same day to avoid duplicate trades.

For buy stop orders, the stop loss is set at the previous day's low, and the take profit is set a specified number of points above the previous day's high. For sell stop orders, the stop loss is set at the previous day's high, and the take profit is set a specified number of points below the previous day's low.

The EA includes a trailing stop mechanism that adjusts the stop-loss level as the market moves in favor of the trade. The trailing stop is activated only if the new stop loss is better than the current one and if it meets the minimum movement condition from the entry price.

Use Case: Gold4L Clover EA is ideal for traders who focus on the GOLDUSD pair and prefer automated trading strategies. It suits those who require precise risk management and flexible trading hours. The EA is designed to perform well on raw spread accounts.

Requirements:

• Account Type:  Raw account with low spreads is preferred. 
• Broker: Adapted for brokers offering raw spread accounts.
• Trading Platform: MetaTrader 5.

Disclaimer: Trading involves significant risk, and it is essential to understand the risks before using this EA. Ensure to test the EA on a demo account before deploying it on a live account.

Support and Updates: Regular updates and support are provided to ensure the EA adapts to changing market conditions and maintains optimal performance. For any queries or support, please contact us through the MQL5 community.