[PRESS RELEASE – Dubai, United States Emirates, October 9th, 2024]

Forexeko is the newest forex robot released by Dubai, UAE-based fintech Avenix Fzco. Designed for usage on the MetaTrader 4 (MT4) platform, this Expert Advisor (EA) especially targets XAUUSD trading on the M30 period. Forexeko uses several techniques and features meant for market condition analysis and trade execution.

Forexeko’s Technical Specs

Market Analysis and Trend Identification

Forexeko utilizes price action analysis to scan the market and identify general trends. The forex robot incorporates built-in indicators such as Moving Averages and Oscillators to determine potential entry points. These tools also help the EA avoid overbought or oversold market conditions.

Candlestick Pattern Recognition

The forex robot is programmed to recognize specific candlestick patterns, which it uses to assess market sentiment and potential trend reversals. Forexeko filters out what it considers to be exotic candles, focusing on candlestick patterns it deems more reliable for analysis.

Risk Management Protocols

Forexeko implements several risk management features. Each trade placed by the EA includes predefined Stop Loss and Take Profit levels. The Take Profit is set higher than the Stop Loss to aim for a favorable risk-to-reward ratio. Additionally, the forex robot is designed to open only one order at a time to manage market exposure.

For added security, Forexeko incorporates built-in global stop levels. These are intended to protect against significant market movements that could potentially impact the trading account.

Optimization Process

Avenix Fzco reports that Forexeko has undergone an optimization process using historical tick data from 2016 to the present. The company states that this data was provided by Thinkberry SRL, developers of the Tick Data Suite optimization tool. According to Avenix Fzco, this process was conducted with the goal of selecting accurate settings for the forex robot.

The company states that the optimization process focused on achieving low drawdown and high profitability. However, it’s important to note that past performance does