Dubai-based fintech company Avenix Fzco has recently introduced Forexigo, an automated trading system designed for the forex market. This new forex robot concentrates on trading two specific financial instruments: Gold (XAUUSD) and the British Pound/US Dollar (GBPUSD) currency pair.
Core Technology and Market Analysis
Forexigo operates within the MetaTrader 4 (MT4) platform ecosystem, focusing on a 30-minute (M30) timeframe for both Gold and GBPUSD markets. The system employs a suite of algorithms to scrutinize market conditions and execute trades based on predefined parameters.
The forex robot’s analytical toolkit includes several key components. It leverages price action data and incorporates technical indicators like Moving Averages to discern market trends. Forexigo also performs checks using oscillators to evaluate market conditions before entering trades. The system is engineered to identify specific candlestick formations, with a particular emphasis on bullish and bearish engulfing patterns.
To enhance its accuracy, Forexigo implements a filtering mechanism for candle patterns. This feature aims to minimize false signals by concentrating on market setups that align with the system’s trading criteria.
Trading Mechanics and Risk Mitigation
Forexigo’s trade execution process involves a series of confirmations before opening a position. The system initiates buy trades when it detects bullish engulfing patterns, while bearish engulfing patterns trigger sell trades.
Avenix Fzco has incorporated several risk management features into Forexigo’s framework. Each trade is automatically assigned a stop loss to limit potential downside. The take profit levels are asset-specific, with Gold trades utilizing a different ratio compared to GBPUSD trades.
The forex robot also imposes limits on open positions as an additional risk control measure. It allows for a set number of concurrent open positions for Gold trading, and a separate limit for GBPUSD trading. Furthermore, Forexigo implements global stop levels, providing an extra layer of protection for trading capital against unexpected market fluctuations.
Development Process and Optimization
According to Avenix Fzco, Forexigo has undergone extensive optimization using historical tick data spanning back to 2016. This process involved collaboration with Thinkberry SRL, which provided the Tick Data Suite used in refining Forexigo’s performance.
The forex robot’s programming enables users to switch between trading Gold and GBPUSD. This feature offers flexibility to adapt to changing market conditions or align with individual trading preferences.
User Assistance and Documentation
Avenix Fzco reports that Forexigo comes with comprehensive documentation to help users understand and implement the forex robot effectively. The company also mentions the availability of customer support to address user inquiries and concerns related to the software.
Market Landscape
Forexigo enters a market where various algorithmic trading solutions already exist. Its focused approach on Gold and GBPUSD trading represents a specific niche within the broader automated forex trading software landscape.
About Avenix Fzco
Avenix Fzco is a fintech firm based in Dubai, UAE, specializing in the development of forex trading software. The company focuses on creating automated trading solutions compatible with the MetaTrader 4 platform. Avenix Fzco’s approach involves integrating market analysis capabilities and risk management features into their forex robots. The firm aims to provide tools that can adapt to changing market conditions and incorporate recent developments in trading technology. Anyone curious about automated trading solutions for foreign exchange (Forex) can find more information about Forexigo and try it out for free on the Avenix Fzco website.
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