Technical Specifications and Functionality
Forexigo operates on the widely-used MetaTrader 4 (MT4) platform, employing a 30-minute (M30) timeframe for both Gold and GBPUSD markets. The system utilizes a set of proprietary algorithms to analyze market conditions and execute trades based on predetermined criteria.
The forex robot’s analytical capabilities encompass several key areas. It employs price action data and incorporates indicators such as Moving Averages to identify market trends. Additionally, Forexigo performs oscillator checks to evaluate market conditions prior to trade entry. The system is programmed to recognize specific candlestick formations, with a particular focus on bullish and bearish engulfing patterns.
To enhance its precision, Forexigo incorporates a filtering mechanism for candle patterns. This feature aims to reduce false signals by concentrating on market setups that align with the system’s trading parameters.
Trade Execution Process and Risk Management
Forexigo’s trade execution methodology involves a multi-step verification process before position opening. The system is designed to initiate buy trades upon the identification of bullish engulfing patterns, while bearish engulfing patterns trigger sell trades.
Avenix Fzco has integrated several risk management features into Forexigo’s architecture. Each trade is automatically assigned a stop loss to mitigate potential losses. The take profit levels are asset-specific, with Gold trades employing a higher ratio compared to GBPUSD trades.
The forex robot also implements position limits as an additional risk control measure. It allows for a specified number of open positions for Gold trading and a different limit for GBPUSD trading. Furthermore, Forexigo incorporates global stop levels, providing an extra layer of protection for trading capital against unexpected market fluctuations.
Development and Optimization
According to Avenix Fzco, Forexigo has undergone an extensive optimization process utilizing historical tick data dating back to 2016. This process involved collaboration with Thinkberry SRL, which supplied the Tick Data Suite used in refining Forexigo’s performance.
The forex robot’s programming allows users to alternate between trading Gold and GBPUSD, offering flexibility to adapt to varying market conditions or align with individual trading strategies.
Support for Traders
Avenix Fzco states that Forexigo is accompanied by comprehensive documentation to assist users in understanding and implementing the forex robot. The company also mentions the availability of customer support to address user inquiries and concerns related to the software.
Understanding the Market
Forexigo enters a marketplace where numerous algorithmic trading solutions are already present. Its specialized focus on Gold and GBPUSD trading represents a specific niche within the broader landscape of automated forex trading software.
About Avenix Fzco
Financial technology company Avenix Fzco is situated in Dubai, United Arab Emirates, and it focuses on creating software for foreign exchange trading. Automated trading solutions that work with MetaTrader 4 are the main focus of the company. The strategy employed by Avenix Fzco is to equip its forex robots with tools for market analysis and risk management. Incorporating new trading technology and being responsive to shifting market conditions are two of the primary goals of the company’s products. For more information about Forexigo and to try out the software, interested Forex enthusiasts can visit the Avenix Fzco website.
