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2017.01.18 09:06
Experts

ZZ Fibo Trader - expert for MetaTrader 5

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The ZZ Fibo Trader Expert Advisor has been designed to illustrate the use of the Simple ZZ Fibo indicator in a simple trading system.

The Simple ZZ Fibo has been specially designed for use in trading experts. Information on the price values corresponding to the plotted Fibonacci levels are stored to the indicator buffers (from 2 to 8), from where they can be copied to an expert.

The EA opens a position after a reverse breakout of the top level, which is the simplest filter of false breakouts.

To close positions, the EA uses the parabolic system of price trailing (SAR) by Wilder.

EA waits for price to breakethrough one of the fibo. level. In case of reverse breakthrough EA trades in a direction of reverse breakthrough.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16027

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