Symbols and Trade Identification
Symbols: EURCAD, NZDUSD, USDJPY
- Specifies the currency pairs that “Forex Phoenix” will trade.
Magic Number: 64285
- A unique identifier for trades opened by this robot, preventing conflicts with trades from other expert advisors.
EA Comment:
- Custom comment that will be attached to trades in the order history.
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Trade Management
Manual Stoploss (Points): default = -1
- Allows for manual setting of stop-loss points. A value of `-1` indicates that manual stop-loss is disabled.
Manual Takeprofit (Points): default = -1
- Allows for manual setting of take-profit points. A value of `-1` indicates that manual take-profit is disabled.
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Lot Management
Lot Calculation Method: fixed lot, based on balance or …
- The method used to calculate lot size, based on account balance.
Risk Percentage Per Trade: default = 2%
- Determines the percentage of account balance at risk for each trade.
Fixed Lot Size: default = 0.3
Sets a static lot size if fixed lot size management is preferred.
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Trade Limitations and Filters
Maximum Number of Trades: default = 28
- Limits the maximum number of open trades at a time.
Maximum Spread for Trade: default = 200 points
- Trades will only be opened if the spread is within this limit, filtering out trades during high volatility.
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Risk Management
FTMO Option: False / True
- Disables randomization of take-profit and stop-loss values for prop firm requirements.
Max Loss Per Day: 100 (in account balance currency)
- Sets the maximum loss the robot can incur per day.
Daily Maximum Lost Trades: 5
- Restricts the number of losing trades allowed per day.
High Impact News Filter: False / True
- When enabled, it restricts trading during high-impact economic news events.
Medium Impact News Filter**: False / True
- When enabled, it restricts trading during medium-impact news events.
Low Impact News Filter: False / True
- When enabled, it restricts trading during low-impact news events.
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Drawdown Control
Maximum Drawdown Allowed: 70%
- Sets a limit on the equity drawdown percentage to prevent new trades when the drawdown exceeds this threshold.
Auto Close on Max Drawdown: False / True
- Specifies whether all open trades will be closed automatically when the drawdown limit is reached.
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Martingale Settings
Enable Martingale: False / True
- Toggles the use of a martingale strategy for managing trades.
Martingale Start Method: based on ATR
- Uses ATR (Average True Range) to determine the distance between martingale entries.
Martingale Takeprofit Method: Various options
- Calculates take-profit for martingale sequences as an average of all open orders.
Takeprofit Percentage for Martingale: default = 60%
- Determines the take-profit percentage of the distance between the new and last martingale orders.
Fixed Distance for Martingale: default = 250 points
- Sets a fixed point distance between martingale entries.
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Advanced Martingale Configuration
ATR Period for Martingale: default = 10
- The period used for ATR calculations in martingale strategies.
ATR Multiplier for Martingale: default = 2
- Multiplier applied to ATR values to determine the distance between martingale entries.
Max Martingale Lot Percent: default = 110%
- The maximum percentage of the initial lot size that can be added for subsequent martingale trades.
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Martingale Profit Calculation
Martingale Profit Type: based on balance or currency amount
- Specifies the type of profit target for closing martingale trades, based on either a percentage of balance or a fixed USD amount.
Martingale Total Profit (Cash): default = 50 USD
- Sets a target profit in USD for closing all martingale trades.
Martingale Total Profit (Percent): default = 0.5%
- Sets a target profit as a percentage of balance for closing martingale trades.
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**Links:**
1. **Forex Phoenix EA MT5:** [Link to MT5 version] (click here)
2. ** Forex Phoenix EA MT4:** [Link to MT4 version] (click here)
3. **Forex Fusion Insights Channel:** [Link to My Channel] (click here)
4. **MQL5 Profile:** [Link to My MQL5 Profile] (click here)
5. **LIVE SIGNAL:** [CLICK]