Fireball EA

An automated expert advisor called Fireball EA tracks changes in the market regardless of their direction by using a novel method of money management and volatility-based entry signals.

It is fully compliant with FIFO regulations and supports both netting and hedging accounts.

Pairs and Timeframe

Runs on M15 timeframe is Fireball EA. Officially supported currency pairs include the following:

• EURUSD
• GBPUSD
• USDJPY
• USDCAD
• USDCHF
• AUDUSD
• NZDUSD

Settings

• Money Management – Either FIXED or DYNAMIC
• Fixed Volume – Fixed Lot
• Reference Balance for Volume – If Money Management is DYNAMIC, the fixed volume will be applied to the reference balance
• Take Profit – Take Profit
• Zone Width – Fireball uses the mechanism of the “recovery zone”. The width of this zone can be adjusted here.
• Maximum Orders per Symbol – Use this to limit the maximum number of recovery orders.
• Maximum Spread – Spread filter
• Maximum Slippage – Maximum Slippage
• Starting Hour – The starting hour for trading can be defined here. It is specified in broker time.
• Ending Hour – Ending hour for trading in broker time.
• Closing Mode – How to close open positions. Default: MPF (Most Profitable First). For FIFO brokers set this to FIFO.
• Account Type – Default: HEDGING. If your broker doesn’t allow HEDGING, set this to NETTING.
• Show Visuals – Show the take profit and recovery zone that the EA uses
• Magic Number – Unique number to identify this EA.
• Comment – A comment attached to all orders.

Recommendations

• It is advised to allocate at least $1000 of your account balance to each currency pair while using Fireball EA on multiple currency pairs at once.
• This free forex EA should be run 24/5 on a VPS (Reliable and Trusted FOREX VPS – FXVM). 
• low spread ECN account is also advised (Find the Perfect Broker For You Here).