BENDERFX EA MT4 – Full Input Settings Analysis

BenderFX EA is a Metatrader 4 trading robot that uses Fibonacci retracements/extensions and price action analysis techniques. Risk management and profitability are achieved using in-built machine learning algorithms. Customization options are fixed lot, take profit/stop loss, and pip step. It is optimized for 1-hour and 15-minute time frames and targets the identification of trading opportunities within the general market condition. The 2020 product, BenderFX V4 EA, increases the capacity to trade using the HMA, Shadow Bender indicator, and Fibonacci levels.

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TRANSACTION PARAMETERS

• FixedLots: 0.01
  Fixed quantity of lots per order. As base volume of a position.
• LotsExponent: 1.44
  Multiplier of lots after a losing order. Implies application of the Martingale system.
• UseTakeProfit: true
  Enables use of take profit for any position.
• TakeProfit: 100
  Take profit in pips.
• UseStopLoss: false
  Disables stop loss feature for orders.
• StopLoss: 500
  Stop loss in pips (useless if UseStopLoss = false).
• Pipstep: 120
  Minimum pip distance between orders in the Martingale series.

TRADING TIME LIMIT

• limitTime
• Description: Enables or disables trading time limits.
  • true: Trading is only allowed for a specific time.
  • false: No time limitation on trading.
• limit_time: false
  → Default: unrestricted trading.
• from: 22
  → Time to begin trading (if trading with time limit), relative to local time.
• to: 6
  → Time to end trading.
• limitTime2: 0
  → Unlimited number of trades within a day.

Key Takeaways

• Price Action Analysis: BenderFX EA is capable of analyzing overall patterns such as W and M, Japanese candle patterns, and quantifying the strength of support and resistance levels.
• Fibonacci Strategy: The EA employs the Fibonacci Golden Zone and probability zones to calculate retracements and analyze their potential extension through time.
• Genetic Algorithm Optimization: Using genetic algorithm techniques, BenderFX EA optimizes the parameters in order to maximize profit factors simultaneously it reduces drawdown.