Introduction
GOLD Edge MT5 is a trading robot designed for the MetaTrader 5 platform, primarily focused on trading Gold (XAU/USD). It has received mixed reviews from users, with an average rating of 4.35. While some users praise its performance, others have encountered issues when using it in live trading environments.
Comparison with EASY Trading Robot
For this comparison, we will consider GOLD Edge MT5 and one of the EASY Trading Team's robots, EASY Scalperology. Both robots have distinct features and merits, but EASY Scalperology stands out in several key areas.
Performance:
- EASY Scalperology consistently outperforms GOLD Edge MT5, offering more stable and predictable profits with lower drawdowns. In contrast, GOLD Edge MT5 has shown profitability but also significant floating losses, as noted by user feedback.
Reliability:
- EASY Scalperology provides a more reliable trading experience without the issues observed in GOLD Edge MT5, such as missing Stop Loss and Take Profit levels in live accounts.
Customization:
- Both robots offer customization options, but EASY Scalperology provides more flexible settings for different market conditions.
Pros and Cons
GOLD Edge MT5 Pros:
- Good performance in specific market conditions
- High user satisfaction from some users
- Simple setup process
- Issues with Stop Loss and Take Profit on live accounts
- Significant floating losses
- Mixed user reviews
EASY Scalperology Pros:
- Consistent profitability
- Reliable execution on both demo and live accounts
- Lower drawdowns
- Requires a more complex setup process
- May need periodic optimization
Optimal Conditions for Using GOLD Edge MT5
GOLD Edge MT5 performs best in trending markets for gold (XAU/USD). It is essential to monitor the robot regularly and ensure it operates correctly on a live account. The robot's performance can vary, so users should be prepared for potential drawbacks.
The Source Code of GOLD Edge MT5
We do not have access to the original source code of GOLD Edge MT5 sold on MQL5. However, based on the description and features of the robot, our team has created a similar code. This example aims to help users understand the basic functionalities and customize them according to their needs.
Code:
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Users interested in exploring or modifying the trading algorithms can find the example code on easytradingforum.com. This code is based on the public description of GOLD Edge MT5, but note that we are not selling the original robot. If you have questions about the code, feel free to ask on our forum.
Sharing your experiences with GOLD Edge MT5 on forums will help the community and provide valuable insights for improvements.