xBest EA: Unleashing the Power of Open Source Forex Trading

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posted on 6 months ago — updated on 5 months ago

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xBest EA is an open source Forex EA that is Free to Download. xBest EA, initially developed by xJhamil and later improved by Rodolfo, stands out in Forex trading as a popular open-source Exper...

xBest EA: Unleashing the Power of Open Source Forex Trading

xBest EA, originally crafted by xJhamil and later enhanced by Rodolfo, emerges as a prominent open-source Expert Advisor (EA) in the realm of Forex trading. Setting itself apart by being freely accessible, this EA allows traders to download and utilize it without incurring any charges. What makes it particularly attractive is the liberty it provides to traders who can modify the source code to align with their unique trading styles and strategies.

This openness, however, has spawned various rebranded versions, some closely resembling the original, while others incorporate significant modifications. Noteworthy examples include Fxcoregold v9, GoldenOwl EA, Oracle 2.0 EA, and Passyourchallenge EA, each presenting distinct variations in functionality or working principles.

At its core, xBest EA operates by initiating buy or sell cycles based on signal indications. It starts with a base lot and incrementally adjusts the size at each step, concurrently setting a global take profit. Once the daily target profit is met, all orders are systematically closed. The EA also features time filtering and an option to enable hedging after a specified number of loss orders.

Before deploying xBest EA in a live account, it is strongly recommended to conduct thorough testing in a demo environment for at least a week. Understanding the intricacies of how this EA operates is crucial for responsible and effective use.

Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness

**Customizable Options of this Open Source Forex EA:**

The Open Source Forex EA is crafted to be highly adaptable, offering an array of customizable options through input parameters or source code modifications. Here are some key features:

1. **Grid:** Adjust the grid system to set multiple trades at different price levels, optimizing profitability during market swings.
2. **Martingale:** Implement the Martingale strategy, doubling the trade size after losses to recover previous losses upon a subsequent win.
3. **Minimal Profit Close/Protect Grid:** Set a minimum profit level at which all trades are closed, safeguarding the grid.
4. **Moving Average:** Smooth out price data over a specified period to identify and follow trends.
5. **HILO:** Employ the High-Low (HILO) strategy to identify potential market reversals.
6. **Trailing Stop:** Adjust the stop order as the market moves in a profitable direction, securing gains.
7. **Break Even:** Move the stop loss to the entry level once a trade reaches a certain profit, ensuring a risk-free trade.
8. **Take Equity Stop:** Close all positions if equity reaches a predetermined level, managing risk effectively.
9. **Max Spread Filter:** Prevent trading during high market spreads to avoid unnecessary losses.
10. **Caution of Equity:** Receive an alert when equity reaches a specified level, protecting the account from significant drawdowns.
11. **Equity STOP:** Set a maximum loss level at which all trades are closed to prevent further losses.
12. **News FFCall Filter:** Avoid trading during high-volatility news events.
13. **Filter DateTime Filter:** Skip trading at specific dates and times.

xCaution of Equity STOP: Receive an alert when equity reaches a specified level, protecting the account from significant drawdowns.
Equity STOP: Set a maximum loss level at which all trades are closed to prevent further losses.
News FFCall Filter: Avoid trading during high-volatility news events.
Filter DateTime Filter: Skip trading at specific dates and times.

**Conclusion of xBest EA:**

The flexibility and extensive customization options offered by xBest EA have established it as a preferred choice among traders in the open-source Forex EA community. While the emergence of rebranded versions is a testament to its popularity, it's crucial to remember that the original source code is freely available for modification. As with any trading system, thorough testing in a demo environment is essential before transitioning to live trading. Always trade responsibly and stay informed about the intricacies of the chosen EA.