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AURA BLACK EDITION EA MT4 – Full Input Settings Analysis
Aura Black Edition EA is specifically designed as a fully automated Expert Advisor (EA) exclusively for trading gold on the MetaTrader 4 (MT4) platform. It has a good performance history on the XAUUSD (gold) pair from 2011 to 2020, with respect to cautious risk management by not taking aggressive money management strategies such as martingale, grid, or scalp-type strategies. Aura Black Edition’s strategy is carefully considered.
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GENERAL SPECIFICATIONS
- Recovery Mode: false
→ Recovery from losing trade is disabled (lot size won’t be increased to recoup losses). - Recovery Coefficient: 2.8
→ If Recovery Mode is enabled, it is the multiplier used to increase the lot size (Martingale strategy). - Forbiddance of Trading After Loss: false
→ EA will continue trading after a losing trade; it won’t close. - Duration of Forbiddance (minutes): 300
→ If “Forbiddance” is enabled, EA will cease trading for 300 minutes following a loss. - Use Risk Percent (%): false
→ Risk percentage is not used to calculate lot size. - Risk Percent: 10.0
→ Not used, since the above setting is disabled. - Lot per Balance: 0.01
→ For every “Balance Step,” the lot size is increased by 0.01. - Balance Step: 100.0
→ For every $100 in account balance, the EA will increase the lot size by 0.01. - Fix Lot (if 0 then Auto): 0.0
→ EA adjusts the lot size automatically based on Balance Step. - Number of Opened Deals: 3
→ Maximum number of opened trades at once is 3. - Open Opposite Deals: true
→ EA can open both Buy and Sell at the same time (hedging turned on).
TRADING TIME LIMIT
- Time to Begin (Hour / Minute): 1 / 0
→ Trading begins at 01:00. - Time to End (Hour / Minute): 23 / 0
→ Trading ends at 23:00. - Delay Opening Trades: false
→ There is no delay in opening trades. - Delay Time (seconds): 10
→ If delay is enabled, the EA will delay trading for 10 seconds before opening a trade.
ONE WAY TRADING / ORDER SETTINGS
- Magic Number: 1
→ Unique number to identify trades opened by the EA. - Slippage (points): 100
→ The maximum slippage permitted is 100 points (10 pips). - Only Buy / Only Sell: false
→ Both Buy and Sell directions of trading are permitted. - Max Spread: 200
→ The maximum spread permitted is 200 points (20 pips). - Close at Friday: false
→ Trades will not close automatically on Friday. - Close at Friday Hour: 23
→ If set to “Yes,” the EA will close all opened trades at 23:00 on Friday.
TRAILING STOP / TAKE PROFIT / MOVE SL
- Instant Trailing (On/Off): false
→ Instant trailing stop is disabled. - Trailing Stop (On/Off): true
→ Trailing stop is enabled (Stop Loss will trail as price goes in your favor). - Trailing Start (points): 50.0
→ Trailing will kick in when the trade is 50 points (5 pips) profit. - Trailing Step (points): 5.0
→ The Stop Loss will trail every 5 points (0.5 pips) of profit. - Use Breakeven: false
→ Breakeven function is disabled. - Breakeven Activation (points): 50.0
→ Activated, breakeven occurs when trade is 50 points (5 pips) in profit. - Breakeven Pips: 5.0
→ Breakeven activation shifts Stop Loss to entry price + 5 pips. - Take Profit (points): 150.0
→ All trades are set at a Take Profit of 150 points (15 pips). - Stop Loss (points): 265.0
→ All trades have a Stop Loss of 265 points (26.5 pips).
Key Takeaways
- Aura Black Edition EA is specifically tailored for GOLD trading and has demonstrated consistency of performance from 2011 to 2020.
- It differentiates itself with the use of a multilayer perceptron Neural Network (MLP) to train, which is able to handle non-linearly separable data efficiently.
- Certain important features of this EA include hard stop loss and take profit orders on each position to offer good risk management without risky money management strategies.
- The EA is condition-insensitive to the broker, meaning it can be used on any broker and will work with all brokers.