Gold Overfishing EA By Seller:

Stuff

Description

Overview of Gold Auto Trading EA “Gold Overfishing”

“Gold Overfishing” is an Expert Advisor (EA) specialized for the XAUUSD (Gold/US Dollar) 1‑hour chart. It employs a proprietary logic combining technical indicators such as Bollinger Bands and ATR (Average True Range) to capture the market’s turning points. Designed with a focus on risk management, it aims to secure stable returns even with a small account balance.

Recommended Settings & Operating Environment

Currency Pair

XAUUSD (Gold)

Timeframe

1‑hour chart

Logic Overview

Logic 1: Band Breakout & ATR Trailing Entry

Signal Detection

• Triggers when the close two bars ago breaks above or below the Bollinger Bands (standard settings).
• Simple breakout: a breach above the upper band signals a short opportunity; a breach below the lower band signals a long opportunity.

Stop Order Entry

• Long: place a stop order at the two‑bars‑ago high.
• Short: place a stop order at the two‑bars‑ago low.
• Orders expire after approximately 164 bars (about one week on the 1‑hour chart) if not filled.

Risk Management

• Stop Loss is calculated dynamically based on ATR.
• Take Profit is set as a fixed percentage gain.

Trailing Stop

• Once a certain profit threshold (ATR‑based) is reached, a trailing stop engages.
• Uses a two‑stage ATR multiplier to adjust the stop level and protect gains.

Logic 2: Pullback Follow & Dynamic Entry

Trend Environment Check

• Monitors the Bollinger Bands’ width over a set period to gauge market momentum.

Pullback Detection

• Catches temporary retracements into the band after a strong move (“pullbacks” or “retracements”) and prepares for entry.

Entry Level Adjustment

• Offsets the trigger line slightly based on recent price range to filter out noise and ensure better fill on trend resumption.

Time‑Limited Position Management

• Positions are held for a fixed number of bars after entry, then automatically closed to avoid prolonged exposure.

Multi‑Layered Risk Control

• Combines Stop Loss, Take Profit, and optional trailing functionality to lock in gains while monitoring retracement strength.

Main Features

• No Martingale or grid methods—prevents unintended lot escalation and sudden drawdowns.
• Individual Stop Loss on every position—to limit adverse moves per trade.
• Not a scalping EA—resilient to broker and server delays for stable operation.
• Automatic lot sizing (compounding)—adjusts position size based on account equity to grow from small balances.
• Symmetrical buy/sell logic—entry and exit rules are mirrored to avoid over‑optimization and maintain flexibility.