This simple Expert Advisor was created to illustrate the capabilities of trading the Fibonacci levels. The EA uses the standard ZigZag indicator (from the standard MetaTrader delivery) as the basis for placing the grid.
The EA determines the trend direction based on the two latest Highs and two Lows (presence of a higher High and a higher Low — uptrend; accordingly, a lower High and a lower Low — downtrend; Highs and Lows changed in different directions —no trend). The Fibonacci grid is based only on the trend.
Once the grid is plotted, the EA waits for a retracement to a certain level and trades the breakout of this levels in the opposite direction.
The EA uses the following parameters:
For its trading, the EA uses Fibonacci levels plotted using the trend based on the standard ZigZag indicator.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16231
The indicator displays the total number of deals by symbol in real time.i4_DRF_v2
A simple trend indicator with calculation of rise and fall in Close prices.