Gold Rush FX Guide – Trading System – April 18, 2024
Hello everyone, my name is Esmaeil. Here I will explain the inputs and how to properly run EA to get the most out of it. Please continue to join us 🙂
Here are 3 steps to running EA correctly:
- Charts that require EA to run
- URLs you need to add to your news filter
- Setting the right risks and inputs
Now the details:
One. Some brokers have you running gold charts under the name Gold and some have XAUUSD. If your broker has both, you need to find out which charts are tradable and contact your broker support, the period must be H1 and all you have to do is run. This EA appears once on one chart.
Link to a YouTube video on how to properly attach to a chart:
When connecting, you need to enable two things so that Metatrader can run the robot and open trades.
First, check the ‘ checkbox.Allow algo transactions If you try to attach a ” to a chart, it will appear in Expert’s Common tab as shown below.
Second, click “.something dealClick the ” button at the top of the MetaTrader window and make it green as shown below.
After that, the EA icon should be a smiley face in Metatrader4 and a blue icon in Metatrader5, as shown below.
2.Be sure to add https://nfs.faireconomy.media to the URL section so EA can download the latest news. Here are some places to add:
First, click on Tools at the top of the Metatrader window.
Then click on the option as shown below.
Then click on the Professional Advisory tab and check the box “Allow WebRequests for listed URLsAfter entering “, enter the address as shown below and click OK.
three.Details on inputs are here, but it should be mentioned that the basic inputs are suitable for most traders. I’m running a custom config file for basic inputs and signals. The configuration file is attached at the end of this article. To download (custom set file contains filter transaction by RSI, it has one more layer of protection)
If you set your risk as a percentage, the more risk you take, the lower your balance may be (since each broker has a minimum lot).
| Minimum possible risk % | balance |
|---|---|
| One | 1000 dollars |
| 2 | 500 USD |
| 0.5 | 2000 USD |
| 5 | 200 USD |
- Key magic numbers: This unique identifier helps the robot distinguish its trades from those of other robots or manual traders. Each robot operating on your account must have a different magic number. For example, “80874” is a specific identifier for this robot transaction.
- Order Description: This allows you to attach a custom description to each transaction the robot performs. This is useful for tracking and identifying transactions in your transaction history. This field is empty by default, so you can select a comment.
- Lot calculation method: The robot determines how to calculate the lot size for each transaction. Options such as Balance Based ensure a dynamic approach to risk management by adjusting lot sizes based on the current balance of your trading account.
- Risk ratio per trade: This sets your risk exposure for each transaction as a percentage of your total account balance. For example, “2.5” means the robot risks 2.5% of your account balance per transaction.
- Fixed lot size: If you are not using the dynamic lot calculation method, specify the lot size to use for each transaction. A value of “0.2” means that each transaction uses a fixed lot size of 0.2.
- Fixed lot size per balance: Determine a fixed lot size based on a specific balance amount. For example, “500” may mean that a fixed lot size will be used for every $500 of your account balance.
- Maximum lot size: An upper limit on the lot size the robot can use in a single transaction, ensuring that the transaction does not exceed a certain size (e.g. “40” lots).
- Minimum lot size: The smallest lot size allowed for trading is set to “0.05” lot, which ensures that the robot will not trade below this size.
- Maximum spread allowed: This input limits the spread (the difference between the bid and ask prices) at which a trade can be initiated by setting it to “100” points to prevent trades from being initiated in volatile or illiquid market conditions.
- One trade per symbol: When enabled (true), the robot ensures that only one trade is possible per symbol (currency pair) at a time, promoting diversification and risk management.
- Minimum distance between transactions: Sets the minimum allowable distance in points between trades for the same currency pair, set to “100” points, to prevent trades from being clustered too closely together.
- RSI filter: When enabled (false by default), it will use the Relative Strength Index (RSI) as a filter for trading signals, taking into account overbought or oversold conditions in the market before entering a trade.
- RSI Filter Period: The length of the RSI period used when the RSI filter is enabled. “24” indicates the number of bars used in RSI calculations.
- RSI Filter Period: Chart period for an RSI filter, such as Weekly PERIOD_W1. This determines the period over which RSI is calculated.
- High impact news filters: When enabled (false by default), the robot will avoid trading during high-impact news reports that can have a significant impact on market conditions.
- Medium Impact News Filter: Similar to the high impact filter, but used for medium impact news events. If true, the robot will avoid trading during this time.
- Low impact news filter: Enabling this setting will cause the robot to skip trades during low-impact news announcements to minimize risk from market fluctuations during these events.
