Avenix Fzco, a company based in Dubai, has launched a brand-new automated solution in the forex trading industry called ForexRova. This forex robot is specifically made to work with the M30 timeframe on the XAUUSD (gold/US dollar) pair. With the integration of multiple technical analysis techniques, ForexRova seeks to offer an all-encompassing automated trading approach.

The Mechanics Behind ForexRova

At its core, ForexRova employs a systematic approach to market analysis. The system begins by examining the overall market trend, utilizing both price action and proprietary indicators to gauge the current direction. This initial step helps align the robot’s strategy with prevailing market conditions.

Following the trend assessment, ForexRova delves deeper into market dynamics. It utilizes an oscillator to determine whether the market is experiencing overbought or oversold conditions. The system then proceeds to evaluate the relative strength of bullish and bearish forces in the market. By assessing this balance of power, ForexRova aims to make informed decisions about initiating buy or sell orders.

Trade Execution and Risk Control

Once ForexRova completes its market analysis, it moves on to the trade execution phase. The robot places orders based on its analytical findings, with each trade accompanied by predefined stop loss and take profit levels. Notably, the take profit is configured to be twice the distance of the stop loss.

In terms of trade management, ForexRova adheres to a single order policy. This means the system maintains only one open position at any given time.

Optimization and Development

Avenix Fzco reports that ForexRova has undergone an extensive optimization process. This procedure utilized tick data provided by Thinkberry SRL’s Tick Data Suite, covering a period from 2016 to the present. The goal of this optimization was to fine-tune the robot’s settings for potential real-world trading scenarios.

The ForexRova Approach

ForexRova’s strategy integrates multiple facets of technical analysis to navigate the complexities of the XAUUSD market. By combining trend identification, overbought/oversold analysis, and an assessment of market strength, the system aims to generate informed trading signals.

The robot’s trade execution process involves placing orders only after all predefined conditions are met. This methodical approach, coupled with its risk management features like the single order policy and global stop levels, forms the foundation of ForexRova’s trading methodology.

About Avenix Fzco

Avenix Fzco, a Dubai-based fintech innovator, has made its mark in the forex trading software arena with ForexRova. The company’s mission revolves around developing automated trading solutions that harness the power of technical analysis while prioritizing risk management. Beyond crafting sophisticated forex robots, Avenix Fzco is dedicated to nurturing a vibrant trading community where knowledge sharing thrives. For those intrigued by the world of automated forex trading, ForexRova’s website offers a gateway to explore this forex bot firsthand.

https://forexrova.com/