Avenix Fzco releases forex robot with dual-market approach: enter Forexigo
Avenix Fzco expands its forex software portfolio with Forexigo robot, the firm’s latest contribution to foreign exchange trading
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The Dubai, United Arab Emirates-based tech firm Avenix Fzco has now released Forexigo, an AI-powered trading platform designed with the forex market in view. This new forex robot focuses on two specific financial instruments: the gold/US dollar pair (GBPUSD) and the currency pair XAUUSD.
The Essential Functions of Forexigo
A collection of algorithms designed to handle the intricacies of forex trading form the foundation of Forexigo. The algorithm analyzes market conditions for Gold and GBPUSD on a 30-minute (M30) timeframe.
The forex robot searches market patterns using a variety of analytical tools. To potentially learn the general direction of the market, it integrates indicators like Moving Averages and makes use of price action data. Forexigo monitors the market with the aim of staying out of deals at extreme price points. Particularly noteworthy among the patterns that the algorithm is trained to detect in candlestick data are bullish and bearish engulfing patterns. The forex robot is meant to reduce misleading trading signals by eliminating specific candle patterns in order to improve accuracy.
Methodology for Trade Execution
Before opening a position, Forexigo’s trade execution procedure entails a number of confirmations. Buying orders are placed by the algorithm whenever it detects bullish engulfing patterns, while selling orders are placed when it detects bearish engulfing patterns.
Standards for Risk Management
Several risk management tools have been embedded into Forexigo by Avenix Fzco. A stop loss is automatically included in every trade to create the potential for reducing possible losses. Every asset has a different take-profit level.
Forexigo limits the quantity of open positions that can be open at once. While GBPUSD trading permits up to four concurrent open positions, gold trading is limited to one open trade at a time.
Support for Trade Enthusiasts
According to Avenix Fzco, Forexigo includes documentation to assist users in comprehending and using the forex robot. Additionally, the company states that customer assistance is available to handle questions from users regarding the product.
About Avenix Fzco
Avenix Fzco is a financial technology business headquartered in Dubai. The company creates software that is compatible with the MetaTrader 4 platform and offers automated trading solutions for the currency market. The strategy used by Avenix Fzco blends risk management elements into their forex robot designs with instruments for market analysis. The organization incorporates new developments in trading technology and offers traders tools made for changing market conditions. To test the software and for more information, interested parties can visit the official website of Forexigo.