[PRESS RELEASE – Dubai, United States Emirates, October 9th, 2024]
Forexeko is the newest forex robot released by Dubai, UAE-based fintech Avenix Fzco. Designed for usage on the MetaTrader 4 (MT4) platform, this Expert Advisor (EA) especially targets XAUUSD trading on the M30 period. Forexeko uses several techniques and features meant for market condition analysis and trade execution.
Forexeko’s Technical Specs
Market Analysis and Trend Identification
Forexeko utilizes price action analysis to scan the market and identify general trends. The forex robot incorporates built-in indicators such as Moving Averages and Oscillators to determine potential entry points. These tools also help the EA avoid overbought or oversold market conditions.
Candlestick Pattern Recognition
The forex robot is programmed to recognize specific candlestick patterns, which it uses to assess market sentiment and potential trend reversals. Forexeko filters out what it considers to be exotic candles, focusing on candlestick patterns it deems more reliable for analysis.
Risk Management Protocols
Forexeko implements several risk management features. Each trade placed by the EA includes predefined Stop Loss and Take Profit levels. The Take Profit is set higher than the Stop Loss to aim for a favorable risk-to-reward ratio. Additionally, the forex robot is designed to open only one order at a time to manage market exposure.
For added security, Forexeko incorporates built-in global stop levels. These are intended to protect against significant market movements that could potentially impact the trading account.
Optimization Process
Avenix Fzco reports that Forexeko has undergone an optimization process using historical tick data from 2016 to the present. The company states that this data was provided by Thinkberry SRL, developers of the Tick Data Suite optimization tool. According to Avenix Fzco, this process was conducted with the goal of selecting accurate settings for the forex robot.
The company states that the optimization process focused on achieving low drawdown and high profitability. However, it’s important to note that past performance does not guarantee future results in forex trading.
Technical Specifications
- Platform Compatibility: MetaTrader 4 (MT4)
- Target Market: XAUUSD (Gold vs US Dollar)
- Timeframe: M30 (30-minute charts)
- Strategy Components: Price action analysis, Moving Averages, Oscillators, Candlestick pattern recognition
- Risk Management: Stop Loss, Take Profit, Global stop levels
- Order Management: One order at a time
About Avenix Fzco
Based in Dubai, Avenix Fzco is a fintech startup focused in creating forex trading solutions. The company specializes in developing tools with user-friendly interfaces, risk management tools, and market analysis elements. The product range of Avenix Fzco comprises several forex robots fit for the MetaTrader 4 infrastructure. With an eye toward integrating new trading technologies and adjusting its products to fit evolving market conditions, the company stresses constant software development. Avenix Fzco says beyond software development that it aims to build a community where traders may exchange knowledge and grow personally. Forex aficionados eager to investigate Forexeko are advised to visit the company’s website for further information and to personally test the software.
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