This configuration window shows the default input parameters for Fenghuang Rig EA, a fully automated Expert Advisor for MetaTrader 4 (MT4). These inputs allow traders to customize the EA’s risk management, trade execution, and panel display functions.
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🛠️ Key Trading Settings:
- Magic Number:
4488
A unique identifier for the EA's trades, ensuring it only manages its own positions. - Take Profit:
30.0
Each trade aims for a 30-pip profit. This indicates a scalping or short-term strategy with consistent gains. - Stop Loss:
370.0
A wide stop loss of 370 pips implies the EA allows room for trades to breathe, possibly aiming to avoid premature stop-outs during volatility. - Use Trailing:
false
The trailing stop function is disabled by default, which means the EA exits based on fixed TP/SL levels.
📉 Trailing Stop Configuration (Optional):
These settings are inactive when Use Trailing = false, but here's what they represent if enabled:
- Trailing Start:
20.0pips – Trailing begins once trade is 20 pips in profit. - Trailing Distance:
10.0pips – Maintains a 10-pip gap between price and stop. - Trailing Step:
5.0pips – Stop is moved every 5 pips of favorable movement.
👉 This setup, if enabled, would provide a dynamic exit strategy, locking in profits while minimizing risk.
💰 Lot Size & Risk Control:
- Risk:
high
Indicates an aggressive risk approach — suitable for high-growth accounts, but not ideal for conservative traders unless changed. - Calculate Lotsize Automatic:
true
The EA calculates position size dynamically based on balance/equity and risk level. - Manual Lotsize:
0.01
Used only if auto-lot calculation is disabled. Defaults to the smallest lot for safety.
📋 Panel Display Settings:
- Show Panel:
true– Enables on-screen display of trade info and EA status. - Panel Font Size:
10– Moderate font size for readability without cluttering the chart. - Comment for EA Orders:
Fenghuang_Rig– Tag added to each trade for identification.
✅ Conclusion:
The Fenghuang Rig EA offers a highly customizable trading experience, combining automatic lot size calculation with precise risk settings. With a default setup favoring fixed take profit and wide stop loss, it appears optimized for stable performance and longer trade durations, minimizing premature stop-outs in volatile markets.
The inclusion of optional trailing stop logic allows advanced users to enhance profit protection, while the visual panel interface offers real-time insight into EA operations.
With its ability to scale position sizes dynamically and apply a “high-risk” profile, this EA is particularly suited for traders seeking aggressive growth, though caution is advised for risk-averse users. Its robust configurability makes Fenghuang Rig EA a flexible solution for both beginner and experienced algorithmic traders in the MetaTrader 4 environment.