Forex Phoenix EA Introduction


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.

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.

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.

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.

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.

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.

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.

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.

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.

**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]



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