Phoenix FTMO EA MT5

Description

Phoenix FTMO EA MT5

Phoenix is an innovative trading robot designed to help traders maximize their performance in the financial markets. The name “Phoenix” is inspired by the legendary bird that rises from its ashes, symbolizing the robot’s ability to adapt to changing market conditions. The robot’s name implies that the robot is designed to help traders achieve the performance targets required to receive funding from the Prop Firms.

Phoenix is equipped with advanced algorithms and artificial intelligence to analyze market data and make informed trading decisions. It can identify market movement patterns and trends and execute trades quickly and precisely. Its risk management system is designed to minimize losses and protect capital, which is essential for long-term success in the Forex market. The robot is user-friendly and can be easily integrated with the Meta trader platform, making it accessible to traders of all experience levels. Its flexible settings and customizable features make it a versatile tool that can be adapted to different trading styles and preferences.

No optimization is necessary; the best options are set as default.

For detailed parameter description refer to the video tutorial.

Main features of the EA:

There is no Grid or Martingale.
Standard TP/SL ratio
Stop-Loss orders for each trade
Capital risk management
User-friendly expert advisor
Default Optimized Settings
A full-service forex system that manages all elements of automatic trading.

EA Parameters:

Symbols setting

symbols = Name of the pairs on which you wish the bot to trade
symbol suffix = A string to be appended at the end of the symbol name
symbol prefix = A string to be added at the start of the symbol name

Performance

balance risk % = The percentage of the balance that will be used for each trade
minimum lot size = The minimum trading lot size
maximum lot size = The maximum trading lot size
Market Fluctuation = Higher number will reduce the open positions in the same symbol
max spread allowed for opening trades = set the maximum spread for you trades
Min distance between trades of same pair (points) = you can set the minimum distance between the opening price

Bot identification settings

magic number = A special value associated with each position this EA takes
order comment  = If desired, write a brief comment on the orders

Trailing settings

Trailing pips, 0:off = Trailing pips means the SL will follow the price with tihs distance
Trailing Start in pips  = When the current price is above the open price about X pips the trailing starts

Martingale main settings

Turn on Martingale = This option activates the martingale.
Method for calculating TP for martingale*  = You may select how to set the TP of martingale orders using these inputs

1. Set on average of all TPs = Establish the closing level in the average of all TPs *
2. Set all TP at initial TP = Put every TP at the final order TP level
3. Set TP on previous order open price = TPs are set to the last order open price
4. Distance of previous order open price = Set the TP in percentage terms from the last order open price and the current price

Continue Martingale based on signal settings

Only continue Martingale when the signal comes = This option uses the RSI to determine when to begin new trades
Timeframe_rsi_martingale_signal = RSI timeframe setting
RSI period = Period of RSI for filtration
RSI low value = Low filter value level for RSI
RSI high value  = High filter value level for RSI
Reverse RSI = In this case, the high and low numbers are reversed

Profit calculation setting for Martingale

Profit type = How much money you’ll make after all martingales are closed. where you can select whether it’s in percent of the balance or in US dollars
Profit (USD) after closing Martingale positions = If you choose USD, the profit is calculated using this number
Profit (% of balance) after closing Martingale positions = If you choose % of balance, this amount is used to determine the profit

Prop Firms Options:

Not open trades after max draw down = if equal -1.0 disable, if you set for instance on 20 then reaching 20% drawdown it will not open positions
Close open trades after max draw down = Set it on true and If draw down reaches the specified draw down above, it will close the positions
Add TP and SL random pip = Set it on true, the EA will  Add random pip to SL and TP in case of making difference between open positions
Closing on Weekend at hour = if equal to -1.0 disable, if for instance set it on 19 it will close trades Friday on 19 hour (0-24 hour scale)

Recommendations:

    Recommended pairs: EURAUD, NZDCHF, GBPAUD, CHFJPY
Recommended setting: Run the expert on the EURAUD H1 chart
Recommended Lot and Risk: 1%.
Brokers: all brokers offering these 6 recommended forex pairs.
Minimum capital: 1000 USD
Minimum leverage: 1:30 or higher with a specific setting

Future success is not always assured by past success. This EA does not make predictions about the future; rather, each trading robot is built on the foundation of manual mass testing and extensive back testing using historical data.