Project Phoenix EA

Project Phoenix EA is an automatic trading advisor designed to implement a medium-term trading strategy based on the theory of wave movement of the market. It is an expert advisor that is based on the application of wave analysis to historical data and the search for waves predicting the price movement in the future.

In this review, we will discuss the strengths and weaknesses of the Project Phoenix EA. By the end of this review, readers should have a better understanding of the Project Phoenix EA and be able to decide if it is suitable for their trading style and goals.

Project Phoenix EA Strategy

Project Phoenix EA is an automated trading advisor that uses medium-term trading strategies based on the theory of wave movement of the market. Unlike other trading advisors, it does not use martingale, grid, averaging, scalping, or certain indicators. It operates exclusively on the EURUSD currency pair and the H1 time frame.

Project Phoenix EA
Project Phoenix EA

The advisor employs wave analysis to historical data and predicts price movements in the future by searching for repeating patterns using a longer period of time. Using a smaller period, approximation and interpolation of nodal points and refinement of patterns are carried out. An extrapolator is then used to make predictions based on both periods. The Expert Advisor builds a predictive model of price behavior in three independent threads using extrapolator data. It can open up to 3 positions in one direction or in different directions, and each position is independent of the others.

Project Phoenix EA Activity
Project Phoenix EA Activity

One of the advantages of the Project Phoenix EA is that it works in the medium-term, capturing the entire price movement, and does not require fast execution of trade orders. It also does not use Take Profit, closing orders using the trading system conditions, which allows it to capture more price movements and not limit the possible profit. The EA tracks each order strictly and sets a protective stop loss for each of them separately. The main expert advisor settings and wave forecasts are visualized on the chart for interactivity and convenience, and optimization is not required to start trading.

However, one of the weaknesses of the Project Phoenix EA is that it is based solely on past data, which means it may not perform well in unexpected market conditions or news events. Additionally, the use of wave analysis may be difficult for some traders to understand and implement effectively.

Overall, traders should carefully consider their risk tolerance and trading style before deciding to use the Project Phoenix EA. It is important to demo test the EA and apply good risk management settings to ensure its compatibility with their trading preferences.

Project Phoenix EA Features

Here are some of the features of the Project Phoenix EA:

  • Medium-term trading strategy based on wave movement theory
  • Trades on the EURUSD currency pair on the H1 time frame
  • Uses wave analysis to identify repeating patterns in historical data and predict future price movements
  • Searches for patterns using longer and smaller periods of time, and uses an extrapolator to make predictions based on both periods
  • Builds a predictive model of price behavior in three independent threads
  • Can open up to 3 positions in one direction or different directions
  • Each position is independent of each other
  • Has a built-in error-recognition system that displays warnings or error messages
  • Works in the medium-term, capturing the entire price movement instead of just part of it like scalpers
  • Does not require fast execution of trade orders
  • Holds positions from several hours to several days
  • Does not use Take Profit and closes orders using the trading system conditions to capture more price movements
  • Tracks each order strictly and sets a protective stop loss for each of them separately
  • Visualizes the main expert advisor settings and wave forecasts on the chart for interactivity and convenience
  • Does not require optimization to start trading, but stop loss size can be optimized for better risk management.

Project Phoenix EA Settings

  • GMT: Allows you to set your broker’s GMT time shift
  • Start of trading within the current wave: Allows you to specify the start of trading within the current wave
  • Use Stoploss (true/false): Enables or disables the use of stop loss
  • Stoploss: Allows you to set the stop loss value
  • Magic number: Sets a unique identifier for the EA’s orders
  • Commentary string: Allows you to add comments to the EA’s orders
  • Fixed lot: Allows you to set a fixed lot size for trading
  • Auto lot: Enables automatic lot size calculation
  • Risk, %: Allows you to set the risk percentage per trade
  • Lot coefficient: Sets a coefficient to adjust the lot size
  • Send Alert: Enables or disables email notifications
Project Phoenix EA Settings
Project Phoenix EA Settings

Project Phoenix EA Summary

Project Phoenix EA is an automatic trading advisor that implements a medium-term trading strategy based on the theory of wave movement of the market. It is a system that does not use martingale, grid, averaging, or scalping techniques. The advisor is designed to trade on the EURUSD currency pair on an H1 time frame.

The strength of Project Phoenix EA lies in its ability to capture the entire price movement in the medium term, unlike scalpers. It does not require fast execution of trade orders and can hold positions from several hours to several days. Each order is strictly tracked by the trading system, and a protective stop loss is set for each of them separately. The main expert advisor settings and wave forecasts are visualized on the chart for interactivity and convenience.

However, the weakness of Project Phoenix EA is that it relies on past data to make forecasts, like any other trading expert. Additionally, it does not use a Take Profit strategy and closes orders using the trading system conditions, which may not limit the potential losses.

Demo testing Project Phoenix EA and applying good risk management settings is recommended before live trading to ensure that it works as expected. The cost of the EA is relatively low compared to other automated trading systems, making it accessible to traders with a limited budget.

In summary, Project Phoenix EA is suitable for traders who prefer medium-term trading strategies and want to capture the entire price movement rather than part of it. It is recommended to test it thoroughly and apply good risk management settings before using it for live trading.

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