Phoenix Forex expert advisor is a very complicated EA. It uses many standard MetaTrader 4 indicators (like moving averages and envelopes) to determine the position entry and exit points as well as position parameters. This expert advisor has many input parameters and internally stored data sets for each of the five currency pairs it can be used to trade with. The abundance of the indicators and conditional checks make Phoenix expert advisor a little slower for CPU to process.
Warning! The latest backtest of this expert advisor on the period from 2006-11-20 through 2014-01-24 has shown a complete account wipeout.
Do not run this EA on a live account! Use for educational purpose only. The backtest results presented below are outdated.
My test of the Phoenix MetaTrader expert advisor resulted in about $6,400 profit using GBP/USD pair on a fifteen-minute timeframe using 1 standard lot to open positions. Testing was done over a one-year period, with maximum drawdown as little as $96. I've also checked it on a three-year period and it showed the same performance.
What are the stop-loss and take-profit used by this EA?
It uses the variable stop-loss and take-profit values, but the average winning and losing position yield 138 and 148 pips on average respectively.
How often does it trade?
On 15-minute GBP/USD chart (the optimum settings) this EA will trade 1 time a day on average.
This EA is ECN-incompatible. It is not recommended to trade with ECN (market execution) broker using this expert advisor. You will most likely be seeing OrderSend Error 130 messages when EA will be trying to open positions.
Warning! Before you ask basic questions regarding installation of the expert advisors, please, read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.
Do you have your own trading results or any other remarks regarding this expert advisor? Discuss Phoenix with other traders and MQL programmers on the experts forums.