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GordagoElder.mq4 - Powerful Forex Expert Advisor for Consistent Profit
GordagoElder.mq4 is an advanced Forex robot, also known as an Expert Advisor (EA), designed to optimize your trading experience. This EA operates seamlessly in various market conditions, providing steady results. Tested on brokers like LQDFX and FXOpen, it is versatile and compatible with any reputable broker.
Maximize your trading potential with this reliable Forex EA. Download GordagoElder.mq4 now for automated trading success.
GordagoElder.mq4 4.18 kb, 32 downloads since 2015-04-20
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The GordagoElder.mq4 Forex EA EA uses a combination of technical indicators like Moving Average Convergence Divergence (MACD) and Stochastic Oscillator to make trading decisions. It aims to catch potential buying and selling opportunities in the forex market based on these indicators.
Now, let's talk about how this EA operates.
Buy Signals: The EA looks for buy signals when certain conditions are met.
These conditions include:
MACD indicator showing the current value is greater than the previous value.
MACD histogram is in the positive territory (above 0).
Stochastic Oscillator is below a specified value.
Stochastic Oscillator has recently crossed over.
Current closing price is higher than the previous high.
When all these conditions align, the EA will open a BUY position.
Sell Signals: The EA looks for sell signals when:
MACD indicator shows the current value is less than the previous value.
MACD histogram is in the negative territory (below 0).
Stochastic Oscillator is above a specified value.
Stochastic Oscillator has recently crossed under.
Current closing price is lower than the previous low.
When these conditions are met, the EA opens a SELL position.
Managing Trades: The EA doesn't stop once it opens a trade. It's pretty smart in managing them too!
For BUY trades, it can use a trailing stop feature. If the price goes in your favor by a certain amount, it'll adjust the stop loss higher to lock in profits.
For SELL trades, it does the opposite. It can use a trailing stop to move the stop loss lower as the price moves in your favor.
Setting it Up:
You'll need to set up this EA in your trading platform. Make sure you've got the necessary parameters handy. You'll want to customize these settings according to your risk tolerance and trading preferences.
Long Stop Loss (lStopLoss): This parameter represents the stop-loss level for long (BUY) trades. It's set to 17 pips by default. You can adjust this value based on your risk tolerance and trading strategy.
Short Stop Loss (sStopLoss): This parameter represents the stop-loss level for short (SELL) trades. It's set to 46 pips by default. Like the long stop-loss, you can customize this value to fit your trading preferences.
Long Trailing Stop (lTrailingStop): This parameter enables a trailing stop for long trades. If the price moves in your favor by a specified number of pips (set to 18 pips by default), the stop-loss will be adjusted higher to lock in profits.
Short Trailing Stop (sTrailingStop): Similar to the long trailing stop, this parameter activates a trailing stop for short trades. If the price moves in your favor by a specified number of pips (set to 22 pips by default), the stop-loss will be adjusted lower to secure profits.
Lot Size (Lots): Lot size determines how much of a currency pair you're buying or selling in each trade. It's set to 0.1 lots by default, but you should adjust it according to your account size and risk management strategy.
These settings are super important because they let you tweak the EA to match how you like to trade. Make sure to change these settings based on how much risk you're okay with, how much money you have in your trading account, and how you like to trade. Also, remember that the way you adjust these settings might need to be different depending on the specific situation in the market and the currencies you're trading
GordagoElder.mq4 4.18 kb, 5 downloads since 2023-11-08
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