PriceActionAi ZigZag ft Fibo
This EA is intended to assist with surveying and trading performance statistics with ZigZag Indicator ft Fibonacci.
Caution: This EA should be used for testing, statistical and analytical purposes. It is not recommended to use it as a true trading robot, unless you have an effective plan with it.
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Conditions of entry
Only one order at a time can be opened, at the end of the order can the next order be opened
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BUY order conditions
When A is the bottom and B is the top
Check Ranger of AB is in range of Pips Ranger Min and Pips Ranger Max configured
The Ranger Period AB test is between Period Ranger Min and Period Ranger Max
Ask price is in the configurable Fibo Level
In Reverse mode, the SELL command will be opened instead of the BUY command.
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SELL order conditions:
When A is the top and B is the bottom
Check Ranger of AB is in range of Pips Ranger Min and Pips Ranger Max configured
The Ranger Period AB test is between Period Ranger Min and Period Ranger Max
Bid price is in the configurable Fibo Level
In Reverse mode the BUY command will be opened instead of the SELL command.
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Configuration parameters
2.1. Basic parameter group
A. System Settings
- Day of week: Day of the week
- Trading Hours: Hours of the day
- Minute Min: From minutes
- Minute Max: Up to the minute
- Magic number: EA ID number
B. Trading Settings
- Balance stop percent (0 = No Stop): Trade stop level. Once the profit / loss is loaded at this%, the EA will stop running.
- Reverse: Reverse
- Spread Limit (in points): The maximum spread when checked for entry
- Slippage Limit (in points): Maximum price slide when entering the order
C. Volume Settings
- Money management (LOT or RISK): Capital management
- In the case of choosing LOT: The value for money management: is quantity (eg: 0.01)
- In the case of choosing RISK: The value for money management: is a percentage (Example: 1)
D. SLTP Settings
- Stop Loss (in pips): Stop loss
- Take Profit (in pips): Take Profit
E. Trailing Stop Settings
- When the current bid / ask price is about 1 distance from the initial set SL point by Trailing Stop + Trailing Step, then drag SL 1 about Trailing Step, following the direction of trend development.
- Trailing Stop (in pips, 0 = No Trailing): Stop loss
- If Trailing Stop is 0, this function will not work
- If Trailing Stop is different from 0, then Trailing Step must be entered
- Trailing Step (in pips): The jump range of the SL
2.2. Parameter group characteristic
ZigZag Setting
Depth: Depth to find and calculate high / low price score. The unit of calculation is the number of candles, the default value is 12.
Deviation: Percentage of minimum price movement. Default value is 5%.
Backstep: Minimum distance to the next high / low point, satisfying the Deviation. The unit of calculation is the number of candles, the default value is 3.
Color: The color that draws the ZigZag indicator on the chart
Width: The width of the line to draw the indicator on the chart
Display ZZ on chart: Displays ZigZag on the chart
ZigZag Trading Settings
Period Ranger Min: Minimum number of candles forming side AB ZigZag
Period Ranger Max: Maximum number of candles forming side AB ZigZag
Pips Ranger Min (in pips): Minimum price fluctuation amplitude of edge AB ZigZag, unit is pips
Pips Ranger Max (in pips): Maximum price fluctuation amplitude of edge AB ZigZag, unit is pips
Fibo Settings
Fibo Level Open Position: The percentage that Fibo checks at opening orders
Display Fibo on chart: Displays Fibo on the chart
Color: The color of the Fibo plot on the chart
Good luck and Happy trading.
