Fiery Bear EA - Comprehensive Guide

"Trade with Precision – Let the Algorithm Hunt for Profits!"

🔹 Overview

The "Fiery Bear EA" is a MetaTrader 4 (MT4) expert advisor designed for forex trading, focusing on price action strategies with ATR-based entries and dynamic risk management. It is optimized for EURUSD, GBPUSD, and XAUUSD (Gold), but can be adapted to other pairs.

📌 Key Features:

ATR-Based Entry Strategy (Adaptive to market volatility)

Auto-Trailing Stop & Lock Profit

Hidden TP/SL Option (Avoids broker manipulation)

Account Protection (License & account lock features)

Real-Time Dashboard (Displays account stats & trade performance)

⚙️ EA Settings & Configuration

1. License & Security

Expiry Date: 2030.05.15 (Can be modified)

Account Lock: Optional (Restricts EA to a specific account number & name)

2. Trade Execution

Lots: Default 0.1 (Adjustable)

Take Profit (TP): 10 pips

Stop Loss (SL): 20 pips

Trailing Start: 5 pips (Activates trailing stop)

Magic Number: 123 (Unique trade identifier)

3. Display & Monitoring

Dashboard: Shows balance, equity, margin, open trades, and profit/loss.

Color-Coded Alerts:

Green = Profit

Red = Loss

Yellow = Warning

4. Risk Management

Hidden SL/TP: Prevents brokers from seeing stop levels.

Trailing Stop: Locks in profits as the trade moves favorably.

📊 How It Works?

🔹 Entry Conditions

BUY Signal:

Strong bullish candle (Close Open)

Price breaks above previous high

ATR confirms volatility

SELL Signal:

Strong bearish candle (Close Open)

Price breaks below previous low

ATR confirms volatility

🔹 Exit Conditions

Take Profit (TP): Fixed or trailing.

Stop Loss (SL): Fixed or dynamic (trailing).

Auto-Close: If market moves against the trade beyond SL.

🔹 Additional Logic

Avoids Over-Trading: Only opens new trades if no existing ones.

Time-Based Protection: Prevents late entries near candle close.

🚀 Performance Tips

✅ Best Pairs: Works well on EURUSD, GBPUSD, XAUUSD.

✅ Recommended Timeframe: M5 or M15 for stable signals.

✅ Risk Setting: Start with 0.5-1% risk per trade.

✅ Avoid High Spread: Disable during high-spread conditions.

⚠️ Important Notes

Works on Demo & Live Accounts (Check broker restrictions).

Requires ATR Confirmation (Ensures valid breakouts).

License Lock: Some versions require account verification.

📜 Developer & Source

Developed by: R.KH (2025)

Official Website: www.robomql.com