Introduction
Are you tired of overpriced robots that overpromise and underdeliver? Enter Saviour Gold EA V8.0 MT4, a free-to-download Expert Advisor that blends three proven indicators—Price Channel, Pivot, and Price Action—with a robust grid strategy. Designed for MetaTrader 4, this EA aims to double a $100 account in 2–3 weeks (yes, it’s aggressive), while also offering customizable risk limits for those who aren’t thrill-seekers. If you’re a trader looking to automate your entry and exit logic without being glued to the screen, Saviour Gold EA could be your next go-to tool—tho, keep in mind, higher potential returns come hand-in-hand with steeper drawdown risks.
What Is Saviour Gold EA V8.0?
Saviour Gold EA V8.0 MT4 is an automated forex trading robot that combines:
- Price Channel: Defines dynamic support and resistance.
- Pivot Points: Identifies key turning areas based on previous price action.
- Price Action: Analyzes candlestick patterns for entry signals.
By fusing these three dimensions of analysis, the EA filters out noise and executes trades where multiple conditions align. Its grid overlay then adds additional orders at incremental price levels, aiming to average in profitable zones as the market swings.
Core Trading Strategy
- Signal Generation
- A new trade is triggered only when the Price Channel breakout coincides with a bullish or bearish pivot confirmation and a valid price action setup (e.g., pin bar or engulfing candle).
- Grid Management
- Once the initial position is open, the EA places buy/sell orders at predefined grid intervals (configurable in pips).
- Users can set a maximum number of grid levels to cap risk.
- Take Profit & Stop Loss
- Each batch of grid orders shares a unified TP target, typically set at a multiple of the average grid spacing.
- A single SL for the entire grid can be configured, or you can let the EA trail or dynamically adjust based on volatility.
Performance Potential & Risks
In backtests, a $100 account saw roughly 100–120% growth in 2–3 weeks, using default “high-risk” settings. That said, drawdowns occasionally reached 15–20% during sharp trends or sustained breakouts against open grid orders. If you prefer a smoother ride, switch to the “safer” preset: start with $1,000, reduce grid levels, and widen SL buffers; you’ll see slower but steadier gains with max drawdowns around 5–7%.
Supported Timeframes & Pairs
- Timeframes: M1, M15, H1
- Currency Pairs: EURUSD, GBPUSD, AUDCAD, USDJPY, AUDUSD
The EA’s blend of fast (M1) and medium (H1) timeframes makes it versatile across both intraday scalping and short-term swing styles. If you’re just starting, try M15 on EURUSD; it tends to have stable spread conditions and fewer spikes.
Minimum Deposit & Money Management
- High-Risk Approach: Minimum $100 deposit; default grid spacing at 10 pips; max grid levels = 5.
- Safer Approach: Minimum $1,000 deposit; grid spacing at 20–25 pips; max grid levels = 3.
Within the EA’s inputs, you can also adjust:
- Lot Sizing: Fixed lots or dynamic risk-based lots (e.g., risking 1% per trade).
- Equity Stop: Automatic disable when drawdown hits your preset threshold.
How to Install & Configure
- Download the ZIP file from the official site and unzip.
- Copy
SaviourGoldEA_v8.ex4intoMQL4/Experts/inside your MT4 data folder. - Restart MT4.
- Attach the EA to any EURUSD M15 chart (or your preferred pair/timeframe).
- Inputs Panel:
- Set
MagicNumber(unique ID) - Choose
GridStep,MaxGridLevels,UseEquityStop - Toggle indicator filters (Price Channel length, Pivot period, Price Action sensitivity)
- Enable AutoTrading and allow DLL imports if prompted.
User Tips & Best Practices
• Demo First: Always demo for at least one week in your broker’s environment to check for slippage and execution quirks.
• News Filter: Consider disabling trading around major economic events to avoid erratic spikes.
• Equity Stop: Set this 2–3% below your highest equity to protect gains.
• Session Filter: Limit trading to high-liquidity hours (e.g., London/New York overlap).
• Regular Updates: Check for new EA releases—V8.1 may include improved drawdown control!
Conclusion
Saviour Gold EA V8.0 MT4 is a potent tool for traders seeking an automated edge through multi-indicator confirmation and grid averaging. It’s not a “set it and forget it” black box—some manual oversight (like session filters and equity stops) will keep you in the green. If you’re comfortable with moderate drawdowns and want to harness the power of grid trading without coding a thing, give Saviour Gold a spin… you might be pleasantly surprised at how it “saves” your time and potentially boosts your bottom line.
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Happy Trading
