Expert Advisor BenderFX - Comprehensive Guide

🚀 Trade Like a Pro with BenderFX!

BenderFX is an advanced Expert Advisor (EA) designed for MetaTrader 4, specializing in Fibonacci-based trading strategies with martingale-like lot sizing. It incorporates breakout trading, time-based restrictions, and dynamic risk management to optimize trading performance.

🔹 How BenderFX Works

1. Trading Strategy

Fibonacci-Based Entries: The EA identifies key Fibonacci levels (23.6%, 38.2%, 50%, 61.8%, 76.4%) on higher timeframes to determine entry points.

Breakout Trading: Can be configured to trade breakouts of highs/lows.

Martingale Multiplier: Uses an exponential lot-sizing system (LotsExponent) to average positions.

Take Profit & Stop Loss: Adjustable TP/SL with options to disable them.

2. Key Features

Time-Based Trading Restrictions: Limits trading to specific hours (e.g., 22:00 - 06:00).

Daily Profit/Loss Limits: Automatically stops trading after reaching daily profit/loss thresholds.

Multiple Timeframe Analysis: Uses a higher timeframe (configurable) for Fibonacci calculations.

Trade Management: Adjusts TP/SL dynamically based on market conditions.

🔹 Input Parameters (Settings)

🔸 Trade Settings

FixedLots: Base lot size (default: 0.01).

LotsExponent: Multiplier for increasing lot size in losing trades (default: 1.44).

UseTakeProfit / TakeProfit: Enable/disable TP (default: 100 pips).

UseStopLoss / StopLoss: Enable/disable SL (default: 500 pips).

Pipstep: Minimum distance between trades (default: 120 pips).

🔸 Time Restrictions

limit_time: Enable/disable trading time restrictions.

from / to: Trading hours (e.g., 22 to 6).

🔸 Fibonacci & Entry Conditions

fibo_buy / fibo_sell: Fibonacci levels for buy/sell entries.

periodForFibo: Timeframe for Fibonacci calculations (default: H1).

openCond: Entry method (1: High/Low Breakout, 2: None).

expt: Expiration time for pending orders (if breakout mode is enabled).

🔸 Risk Management

dailyProfit / dailyLoss: Max allowed trades per day (0 = no limit).

MagicNumber: Unique ID for EA trades (default: 2025).

🔹 How to Optimize & Use

Backtest: Optimize LotsExponent, Pipstep, and Fibonacci levels.

Live Trading: Start with small lots and monitor performance.

Recommended Pairs: Works best on EURUSD, GBPUSD, XAUUSD (Gold).

🔹 Important Notes

⚠️ Risk Warning: Martingale strategies can lead to significant drawdowns. Use with caution.

⚠️ Time Restrictions: Ensure the EA aligns with your broker’s server time.

⚠️ Broker Compatibility: Works best with low-spread ECN brokers.

🔹 Developer & Source

Developer: R.KH 2025

Website: www.robomql.com

🎯 Final Thoughts

BenderFX is a powerful EA for traders who want a Fibonacci-based, time-controlled, and risk-managed automated system. Proper optimization and risk management are key to success!

Happy Trading! 📈