Daily Trade Gold
Daily Trade Gold is an exclusive EA for XAUUSD designed to trade with profit in mind.
Update to Version 2.0 with these improvement
1. Revise the entry signal with combination as follow
Fibonacci levels provide clear support/resistance zones.
Candlestick patterns offer precise entry points.
RSI helps confirm overbought/oversold conditions.
2. Added Daily Force Trade
3. Fix Only Long Trade from Previous Version
4. Updated Inputs for Entry Signals Triggers
5. Fix Session Trading to avoid market close
6. Tested the EA for 1 whole year with 100 USD balance
This EA have below features:
1. Money Management
a. Risk Per Trade
b. Stop-Loss Calculation
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Use the Average True Range (ATR) indicator to determine the stop-loss distance. ATR measures market volatility and helps set a logical stop-loss level.
c. Lot Size Calculation
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Use the following formula to calculate lot size:
Lot Size = Risk Amount Stop-Loss in Pips × Pip Value Lot Size=Stop-Loss in Pips×Pip ValueRisk Amount
2. Entry Strategy
Use one or a combination of the following indicators to identify entry points:
a. Fibonacci Retracement
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Identify the recent swing high and swing low on the 1-hour or 4-hour chart.
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Look for price to retrace to key Fibonacci levels (38.2%, 50%, 61.8%) and show reversal signals (e.g., candlestick patterns, RSI divergence).
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Enter a trade in the direction of the trend when price reacts to a Fibonacci level.
b. Supertrend Indicator
3. Profit Target
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Set a daily profit target based on your risk-reward ratio. A common approach is to aim for a 1:2 or 1:3 risk-reward ratio.
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For example, if your stop-loss is 22.50 , y o u r p r o f i t t a r g e t w o u l d b e 22.50,yourprofittargetwouldbe45 (1:2) or $67.50 (1:3).
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Once the profit target is achieved, stop trading for the day and wait for the next trading session.
4. Exit Strategy
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Use a trailing stop-loss to lock in profits as the trade moves in your favor.
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If the price reverses and hits your stop-loss, exit the trade immediately to limit losses
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Once DailyProfit Hit, close the trade and wait for next trading day
