Phoenix EA

The Phoenix EA is a forex expert advisor that has been designed to analyze complex market data and execute trades based on pre-configured settings. In this comprehensive review, we’ll take a closer look at the Phoenix EA and analyze its strategy and features. By the end of this review, you’ll have a clear idea of the strengths and weaknesses of the Phoenix EA and whether it’s the right trading tool for your needs.

Phoenix EA Strategy

The Phoenix EA is an automated algorithmic trading software that runs on the MetaTrader 4 platform. It uses a combination of five indicators and four trading systems, such as moving averages and envelopes, to determine optimal entry and exit points and position parameters. Additionally, the EA comes with support for other indicators, including the CMA, MACD, RSI, Stochastic, and ADX.

Phoenix EA
Phoenix EA

It is designed to work on any currency pair and timeframe. The robot uses a hedging strategy, which is a risk management strategy used to offset potential losses by taking an opposite position in a related asset. It uses a variety of money management techniques, including lot size management and stop-loss orders, to help manage risk. The EA can be set to operate with conservative, moderate, or aggressive settings, depending on the user’s preferences.

The Phoenix EA offers a range of features, including a choice of trading modes, take profit and stop loss options, trailing stops, and signal filters to help refine its trading decisions. Its strength lies in its versatility, allowing traders to customize settings and choose from a wide range of currency pairs to trade. However, it is important to note that the Phoenix EA is highly dependent on the settings and trading pairs selected. Additionally, it trades using indicators that may give false signals, resulting in significant losses for the trader.

Before using the Phoenix EA in a live trading account, it is recommended to demo-test it first to assess its performance and suitability for your trading style. It is also crucial to apply good risk management settings and monitor the EA closely to minimize the risk of significant losses. The Phoenix EA is for experienced forex traders who are comfortable with advanced trading tools and are willing to invest the time and effort required to monitor and adjust the EA’s settings regularly.

Phoenix EA Features

  • Uses standard MetaTrader 4 indicators such as moving averages, MACD, RSI, stochastic, and ADX to determine position entry and exit points.
  • Has many input parameters and internally stored data sets.
  • Supports variable stop-loss and take-profit values.
  • Comes with two distinct modes: “Make Trades” for executing trades automatically, and “Show Alerts” for receiving notifications when configured conditions are met.
  • Can be used to build a portfolio of trading strategies.
  • Includes five different signal options, each with its customizable parameters such as percent, envelope period, SMA period, and more.
  • Allows users to set trade time windows for each of the four different trade modes.

Phoenix EA Settings

  • Phoenix Mode: Choose between “Make trades” or “Show alerts” modes
  • Lots: Specify the lot size for each trade
  • Maximum Risk: Set the maximum risk per trade
  • Decrease Factor: Set a factor to decrease the lot size after a losing trade
  • MM: Choose between fixed or dynamic money management
  • AccountIsMicro: Set to “true” for micro accounts, “false” for standard accounts
  • PrefSettings: Choose between “Optimal”, “Conservative”, or “Aggressive” settings
  • Close After Hours: Set the time to automatically close all trades
  • Break Even After Pips: Set the number of pips to move the stop loss to break even
  • Take Profit: Set the take profit value for each trade
  • Stop Loss: Set the stop loss value for each trade
  • Trailing Stop: Set the trailing stop value for each trade
  • Use Signal 1: Choose whether to use the Moving Average indicator as a signal
  • Percent: Set the percentage difference for the Moving Average crossover signal
  • Envelope Period: Set the period for the Envelope indicator
  • Use Signal 2: Choose whether to use the Stochastic indicator as a signal
  • SMAPeriod: Set the period for the Stochastic indicator
  • SMA2Bars: Set the smoothing period for the Stochastic indicator
  • Use Signal 3: Choose whether to use the MACD indicator as a signal
  • OSMAFast: Set the fast EMA period for the MACD indicator
  • OSMASlow: Set the slow EMA period for the MACD indicator
  • OSMASignal: Set the signal line period for the MACD indicator
  • Use Signal 4: Choose whether to use the ADX indicator as a signal
  • Fast Period: Set the fast EMA period for the ADX indicator
  • Fast Price: Set the price type for the fast EMA
  • Slow Period: Set the slow EMA period for the ADX indicator
  • Slow Price: Set the price type for the slow EMA
  • DVBuySell: Set the threshold for the ADX direction filter
  • DVStayOut: Set the threshold for the ADX trend strength filter
  • Use Signal 5: Choose whether to use the RSI indicator as a signal

Phoenix EA Summary

The Phoenix EA is an automated trading algorithm that utilizes a combination of five indicators and four different systems to hedge trades in different directions. Generally, the expert advisor is considered to be moderately aggressive, meaning that it can be employed by a wide range of traders.

However, the abundance of indicators and conditional checks make the Phoenix EA somewhat burdensome for a CPU to process, potentially leading to slower performance and an increased risk of errors. There are no guarantees, and like any trading tool, there is always a risk of losses. Therefore, backtesting the Phoenix EA and implementing good risk management settings can provide a clear understanding of how the tool works and its effectiveness.

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