Firebird v63e-2 Forex EA - Proven Results, Reliable Trading

Enhance your trading experience with the Firebird v63e-2 Expert Advisor (EA), a powerful Forex robot designed to optimize your trading strategies. This EA, coded as "firebird v63e-2.mq4," has undergone rigorous testing on popular platforms like LQDFX and FXOpen, ensuring compatibility with any broker.

Unlock the potential of automated trading with this reliable Forex EA. Capitalize on its advanced features and proven results to elevate your trading performance. Seamlessly integrate the Firebird v63e-2 into your trading routine and witness its efficiency in generating consistent profits.

Take advantage of the Firebird v63e-2's capabilities in optimizing trade entries and exits, managing risk, and adapting to market conditions. Elevate your trading game with this expertly crafted Forex robot that brings precision and reliability to your trading endeavors.

Download the Firebird v63e-2.mq4 file now and let your trading journey reach new heights. Boost your trading portfolio with this exceptional EA, unlocking opportunities in the dynamic world of Forex trading.

how to download and get lost remember it not ok return now

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First of all, kudos to the poster for sharing this EA. It's always great to have access to free tools in the forex world. After grabbing the attachment, I tested it on Fxpro, as suggested. And you know what? It's been working quite well for me.

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Firebird v63e-2 Forex EA!

This EA is all about using Moving Averages (MAs) to spot potential trading opportunities. It calculates a 10-day Simple Moving Average (SMA) and creates a channel by shifting it up and down by 2%. Depending on your preference, it can use either the closing price or the high and low prices for SMA calculations. When the price breaks out of this channel, Firebird takes a position in the opposite direction of the current trend. If the trade goes against you, it opens additional positions to average the losses. This EA is designed for trades that typically last one day, but it can handle longer trades too.

How this EA works:

1. Moving Average (MA) Calculation: The EA starts by calculating a 10-day Simple Moving Average (SMA) on the price data of a currency pair, which is a way to smooth out price fluctuations over time.
It can use either the closing prices or the high and low prices of each day to calculate this moving average.
2. Creating Price Bands: After calculating the SMA, the EA creates a price channel around it. This channel is formed by shifting the SMA up and down by 2%.
This channel serves as a range within which price movements are monitored.
3. Detecting Price Breaks: The EA constantly watches for price breaks outside of this channel. When the price breaks above or below the channel, it considers this a significant event.
4. Taking Contrarian Positions: When a price break occurs, the EA takes a contrarian position. If the price breaks above the channel, it opens a short (sell) position, and if it breaks below, it opens a long (buy) position.
This strategy aims to profit from potential price reversals.
5. Averaging Down: If the position goes against the EA's initial entry (e.g., the price continues to move in the opposite direction), it opens additional positions to average the overall entry price.
6. Managing Trade Duration: The EA's trades have varying durations. About 50% of the trades last for a day, 45% for 2-6 days, and 5% may last longer or result in losses.
7. Divergence Check: The EA checks for divergence to protect against strong trends. If a strong divergence is detected, it may not take certain trades.
8. Dynamic Pip Step: The EA uses a dynamic pip step approach. If the price moves a certain number of pips against the open position, it considers adding another position to the trade. The pip step can be adjusted based on different parameters.
9. Stop Loss and Take Profit: Each trade has predefined stop-loss and take-profit levels. The stop-loss limits the total loss on all open positions in pips, and the take-profit level is the target profit in pips.
10. Risk Management: The EA manages risk by adjusting the position size (lots) based on user-defined settings.
11. Time Filtering: The EA may avoid trading during certain hours, typically outside of specified opening and closing hours.
12. Friday Trading: Users can choose whether they want the EA to trade on Fridays or not.

Setting Up Firebird v63e-2 Forex EA:

Download the mq4 file for Firebird v63e-2 Forex EA.
Install it in your MetaTrader 4 (MT4) platform.

Now, let's take a look at the adjustable parameters:

Moving Average Parameters:

MA_Period: The number of periods used to calculate the Simple Moving Average (SMA).
MA_Method: The method used for calculating the moving average (e.g., Simple, Exponential, etc.).
Applied_Price: The price data used for the moving average calculation (e.g., Close, High, Low, Open).

Envelope Parameters:

Envelope_Period: The number of periods used to create the price envelope around the moving average.
Envelope_Deviation: The percentage or number of pips by which the envelope is shifted above and below the moving average.

Trade Entry and Exit Parameters:

Lot_Size: The size of each trading position (lot size).
Take_Profit: The target level at which a trade should be closed with a profit.
Stop_Loss: The maximum allowable loss before a trade is closed.
Max_Spread: The maximum spread allowed for trade entry.
Max_Slippage: The maximum slippage allowed for order execution.

Risk Management Parameters:

Risk_Percent: The percentage of the account balance that the EA can risk on a single trade.
Max_Orders: The maximum number of open orders allowed at any given time.
Use_Money_Management: A flag that enables or disables money management features.

Trade Filters and Timing Parameters:

Trading_Hours: The specific hours during which the EA is allowed to trade.
Friday_Trading: A flag to enable or disable trading on Fridays.
Divergence_Check: A flag to enable or disable divergence checks.

Dynamic Pip Step Parameters:

Use_Dynamic_Pip_Step: A flag to enable or disable the dynamic pip step feature.
Pip_Step: The number of pips at which the EA considers adding another position to the trade.

Start with the setting:

Minimum Balance: $500
Currency Pair: EUR/USD
Timeframe: 1-hour

Moving Average Parameters:

MA_Period: 10
MA_Method: Simple
Applied_Price: Close

Envelope Parameters:

Envelope_Period: 20
Envelope_Deviation: 2% (percentage)

Trade Entry and Exit Parameters:

Lot_Size: 0.01 (or as per your risk tolerance)
Take_Profit: 20 pips
Stop_Loss: 10 pips
Max_Spread: 2 pips
Max_Slippage: 3 pips

Risk Management Parameters:

Risk_Percent: 2% of account balance per trade
Max_Orders: 1 (to keep it simple with one open order at a time)
Use_Money_Management: Enabled

Trade Filters and Timing Parameters:

Trading_Hours: You can set this based on your preferred trading times, e.g., 08:00 - 20:00 (adjust as needed for your timezone)
Friday_Trading: Enabled (if you want to trade on Fridays)
Divergence_Check: Enabled (to enable divergence checks)

Dynamic Pip Step Parameters:

Use_Dynamic_Pip_Step: Enabled
Pip_Step: 5 pips

Please remember that these settings are just a starting point and may need further adjustment based on your specific trading preferences, risk tolerance, and market conditions. With the right settings, it can assist you in your trading journey and potentially boost your profits.

Firebird v63e-2 Forex EA aims to profit from price reversals, manages risk through position sizing and stop-loss orders, and avoids trading during unfavorable market conditions.

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