Dubai Start-up Avenix Fzco Launches AI-Powered Forex Trading Bot Forexigo
Dubai, United Arab Emirates, October 23rd, 2024, Chainwire
Avenix Fzco, a fintech company based in Dubai, UAE, has recently unveiled Forexigo, an automated trading system designed for the forex market. This forex robot specifically targets trading in Gold (XAUUSD) and the British Pound/US Dollar (GBPUSD) currency pair.
Technical Features
Forexigo operates on the MetaTrader 4 (MT4) platform, utilizing a 30-minute (M30) timeframe for both Gold and GBPUSD markets. The system employs a set of algorithms to analyze market conditions and execute trades based on specific criteria.
The forex robot’s market analysis capabilities include trend identification through price action and moving averages. It also incorporates oscillator checks to assess market conditions before entering trades. Forexigo recognizes bullish and bearish engulfing candlestick patterns as part of its trade entry strategy.
To reduce the occurrence of false signals, the system filters out certain candle formations. This approach aims to focus on specific market setups that align with its trading parameters.
Trade Execution and Risk Management
Forexigo’s trade execution process involves a series of checks before opening a position. The system initiates buy trades upon identifying bullish engulfing patterns, while bearish engulfing patterns trigger sell trades.
Risk management features are integrated into Forexigo’s design. Each trade is automatically assigned a stop loss to limit potential losses. The take profit levels differ between assets, with Gold trades using a higher ratio than GBPUSD trades.
The forex robot also imposes limits on open positions. It allows a specified number of open positions for Gold trading and a different number for GBPUSD trading. Additionally, Forexigo implements global stop levels as an extra measure to protect trading capital from unexpected market fluctuations.
Optimization and Development
Avenix Fzco reports that Forexigo has undergone optimization using historical tick data dating back to 2016. The company collaborated with Thinkberry SRL, which provided the Tick Data Suite used in the optimization process.
The forex robot’s programming enables users to switch between trading Gold and GBPUSD. This feature allows for adaptation to different market conditions or alignment with individual trading preferences.
User Support and Documentation
According to Avenix Fzco, Forexigo comes with documentation to assist users in understanding and implementing the forex robot. The company states that customer support is available to address inquiries and concerns related to the software.
Market Context
Forexigo enters a market where various algorithmic trading solutions exist. Its focus on Gold and GBPUSD trading represents a specific approach 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. Forex enthusiasts interested in exploring automated trading solutions may visit the Avenix Fzco website to learn more about Forexigo and test the software for themselves.
