Fenghuang Rig EA V1.3 MT4

Introduction

Fenghuang Rig EA V1.3 MT4 is an automated trading system developed for the MetaTrader 4 platform. It is designed to analyze trend direction, momentum strength, and market volatility before executing trades automatically. The system focuses on structured, rule-based execution with integrated risk management to promote disciplined trading and capital preservation.

Key Features

1. Fully Automated Execution
   Automatically scans the market, opens trades, and manages positions based on predefined conditions.

2. Trend-Following Core Logic
   Aligns trades with prevailing market direction to improve probability.

3. Momentum Confirmation
   Uses additional filtering to avoid weak or ranging market conditions.

4. Built-In Stop Loss and Take Profit
   Each trade includes predefined protective levels.

5. Adjustable Risk Management
   Supports fixed lot size or percentage-based risk per trade.

6. Equity Protection
   Allows setting maximum drawdown or equity stop thresholds.

7. Dynamic Trade Management
   May include breakeven and trailing stop functionality.

8. MT4 Strategy Tester Compatibility
   Supports historical backtesting for performance evaluation.

Recommended Conservative Settings

For stable and controlled performance:

• Risk per trade: 1–2% of account balance

• Lot size: 0.01 per $1,000 as a general conservative guideline

• Maximum open trades: 1–2

• Equity stop: 20–30%

• Moderate stop loss and take profit levels

• Leverage: 1:100 or lower

Conservative configuration helps manage drawdown and long-term stability.

Backtest Result

Backtest performance depends on:

• Currency pair selected

• Market conditions

• Broker spread and execution

• Risk configuration

In trending markets, historical testing may show steady growth with manageable drawdowns under conservative settings. During ranging or highly volatile conditions, drawdowns may increase. Independent backtesting using MT4 Strategy Tester is recommended before live trading.

Advantages

1. Eliminates Emotional Trading
   Executes trades mechanically without fear or greed.

2. Structured Risk Control
   Integrates stop loss, take profit, and equity protection.

3. Consistent Strategy Application
   Applies identical logic across all trades.

4. Time Efficient
   Reduces need for constant market monitoring.

5. Flexible Configuration
   Adjustable settings allow adaptation to different risk profiles.

Disadvantages

1. Market Condition Sensitivity
   Performance may vary in trending versus ranging markets.

2. Drawdowns Are Inevitable
   Losing streaks are part of automated trading systems.

3. Broker Dependency
   Spread and slippage can impact results.

4. Not Risk-Free
   No automated system guarantees profits.

Installation & Setup Guide

Step 1: Download the EA file (.ex4 or .mq4).
Step 2: Open MetaTrader 4 and click File → Open Data Folder.
Step 3: Navigate to MQL4 → Experts.
Step 4: Paste the EA file into the Experts folder.
Step 5: Restart MetaTrader 4.
Step 6: Open your preferred currency pair and timeframe (commonly M15 or H1).
Step 7: Drag the EA from Navigator → Expert Advisors onto the chart.
Step 8: Adjust input parameters according to your risk tolerance.
Step 9: Enable AutoTrading.
Step 10: Test on a demo account before live deployment.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

WhatsApp: Click here

Telegram Group: Join our community

Disclaimer:

Forex and gold trading involve risk. Past performance doesn't guarantee future results. Always test robots on demo before live trading and use proper risk management.