- Michele Mueschen
- Version: 1.0
Fireball EA is an automated expert advisor that uses a unique approach to money management and volatility based entry signals to capture market movements independent of direction.
It is fully compatible with FIFO rules and works on hedging as well as netting accounts.
Pairs and Timeframe
Fireball EA runs on M15 timeframe. The following currency pairs are officially supported:
- 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.
When running Fireball EA on multiple currency pairs at the same time, it is recommended to have at least $1000 of account balance allocated for each pair.
Best results are achieved in HEDGING mode using a low spread ECN broker and a low latency VPS.
There is no need to deactivate Fireball EA during news events because it benefits from the market moves that can be caused by news.
This is a free version of Fireball EA which only works on demo accounts.