Dubai-based Avenix Fzco has launched a brand new automated solution for the forex trading industry called ForexRova. Forex Robot It is specially made to work on the M30 timeframe for the XAUUSD (Gold/US Dollar) pair. By integrating multiple technical analysis techniques, ForexRova aims to provide a comprehensive automated trading approach.

How ForexRova works

ForexRova takes a systematic approach to market analysis. The system begins by examining overall market trends, using both price action and proprietary indicators to gauge current direction. This first step helps align the robot's strategy with current market conditions.

Following trend assessment, ForexRova explores market movements in greater depth. It uses oscillators to determine if the market is in an overbought or oversold state. The system then assesses the relative strength of bullish and bearish forces in the market. By assessing this balance of forces, ForexRova aims to make an informed decision about initiating a buy or sell order.

Trade Execution and Risk Management

Once ForexRova has completed its market analysis, it proceeds to the trade execution phase. The robot places orders based on the analysis results, and each trade is accompanied by predefined stop loss and take profit levels. It is noteworthy that the take profit is set at twice the distance of the stop loss.

When it comes to trade management, ForexRova adheres to a single order policy, meaning the system only maintains one open position at any given time.

Optimization and Development

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

ForexRova’s Approach

ForexRova's strategy integrates various aspects of technical analysis to address the complexities of the XAUUSD market. By combining trend identification, overbought/oversold analysis and assessment of market strength, the system aims to generate informed trading signals.

The robot's trade execution process involves placing an order only if all predefined conditions are met. This systematic approach, coupled with risk management features such as single order policy and global stop levels, forms the basis of ForexRova's trading methodology.

About Avenix Fzco

Avenix Fzco, a Dubai-based fintech innovator, has made a name for itself in the forex trading software space with ForexRova. The company's mission revolves around developing automated trading solutions that leverage the power of technical analysis while prioritizing risk management. Beyond creating sophisticated forex robots, Avenix Fzco is also committed to fostering a vibrant trading community where knowledge sharing thrives. For those curious about the world of automated forex trading, the ForexRova website is the gateway to exploring this forex bot first-hand.

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