Daily Gold Trader

Daily Gold Trader Bot (M15 Bollinger Band Pullback Strategy)

1. Core Concept:
This automated trading bot is designed to capitalize on the daily trend of gold (XAU/USD) by entering trades on short-term pullbacks within that trend. Instead of chasing price after a big move, it patiently waits for a counter-trend retracement to a key indicator—the Bollinger Bands—on the 15-minute (M15) chart to enter in the direction of the overarching daily bias.

2. Market Philosophy:
The strategy is built on the principle that strong trends are punctuated by periodic pullbacks. The Bollinger Bands act as a dynamic support and resistance zone, identifying moments where the short-term momentum has temporarily exhausted, offering a favorable risk-to-reward entry point to re-join the dominant trend.

3. Required Components & Setup:

• Asset: XAU/USD (Gold vs. US Dollar)

• Primary Trend Analysis Timeframe: Daily (D1)

• Entry & Management Timeframe: M15 (15-minute)

• Primary Indicator: Bollinger Bands (Standard settings: 20-period Simple Moving Average with 2 standard deviations).

Minimum Deposit is 1k USD for FBS broker, other broker might need to depo more as the daily candle might be differed a bit.