This is my personal opinion after verified how this EA works (these can be right or wrong):
1. Generate Buy position only, after version 2 has been introduced Sell position. You can check FGT-Real09 to see how buy and sell position are taken.
2. Buy position only taken based on profit/loss calculation, example put another buy when equity is going down as amount of target profit example 400 point. If open position is more than 2 position the profit target is adjusted become 2 or 3 times first profit target , example become 800 or 1200 point.
3. All EA setting FGT-Real01 to FGT-Real10 have different Risk Management, this indicated by open lot size and target profit.
4. High risk setting whenever higher lot size and small target profit. EA probably will open 5 buy position if the price going down 2000 point and target profit 400. Then you can have open position generate lower equity compare to highest balance. You will stay in the market as long as your equity can support your position otherwise call margin will be happened.
5. Trading lot size can be set static (fix lot size) or dynamic (new lot size will depend on last equity/balance). I think dynamic lot size has higher risk compare to static lot size.
6. The new buy will be opened (always) if the price going down, new position are allocated using buy stop.
7. I do not think this EA is using any indicators, because always generate buy position at any market condition.
7. Risk management probably is not calculated automatically, that is why some account using high risk setting will blown away soon. I wish developer implement proper risk management hence nobody will surprise that his account meltdown when price going down after surprising profit due to his EA on high risk setting (big lot and small profit target).
8. Using this EA will benefit if the price increasing always higher that the profit target. But your account on risk if the price is decreasing a lot and your equity could not support it.
So using this EA like performing a soap opera if you do not know how you should set the lot size and profit target.
You can check also how much the equity is decreasing as gold price (you can verify if your self and your account can withstand with open loss position), here the account balance at the time I write this message (these can be changed as price moving/updating):
FGT-Real01 (fix 0.01 lot, fix profit target around 30 pips)
Highest: (Aug 24) $34975.73 , means open position still on loss about -$6,014.24
FGT-Real02 account has been closed (some people may think this account still run)
FGT-Real03 (dynamic lot size and profit target)
Highest: (Jul 06) $181157.13, means open position still on loss about -$63,176.69
Highest: (Aug 23) $5346.00, means open position still on loss about -$1,154.85
FGT-Real05 (no information available, may be account has meltdown)
FGT-Real06 (trade 0.1 lot, profit target 120 pips)
Highest: (Aug 25) $67178.00, means open position still on loss about -$ 17,740.00
FGT-Real07 (trade 0.01 lot, profit target 60 pips)
Highest: (Aug 18) $2830.10, means open position still on loss about -$1,696.15
FGT-Real08 (trade 0.4 lot, profit target 150 pips but sometime 50 pips)
Highest: (Aug 23) $92140.00, means open position still on loss about -$22,588.00
FGT-Real09 (dynamic lot size and profit target)
Highest: (Aug 23) $61389.99, means open position still on loss about -$3,474.19
FGT-Real10 (dynamic lot size and profit target)
Highest: (Aug 23) $5655.25, means open position still on loss about -$47.65
I hope can make clear for anyone who want to buy this EA.