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# Fibonacci Potential Entry - MT5 - script for MetaTrader 5

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3027
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Published:
2020.11.27 02:43
Updated:
2020.12.27 17:50

INTRODUCTION :

The 8 effective steps to build a robust day trading plan using Fibonacci retracement will help us use Fibonacci to locate potential entry points.

Having a trading plan is what differ us from amateurs because professional traders always use their trading plan.

HOW TO USE IT :

You can check the following video that will explain how to

• What are the 8 steps to build a robust trading plan based on Fibonacci retracement.
• Most common mistakes that trades do.
• Applying the trading plan to search for Fibonacci entry points.

PARAMETERS :

This script has 5 inputs, which are

• The Price on 50% Level on M5 TF : enter the price
• The Price on 61% Level on M5 TF : enter the price
• The Price on 100% Level on M5 TF : enter the price
• The Second Target on H1 TF : enter the price
• The Risk in % : enter the % risk on this trading setup
Universal Signals & Universal Trailing Modules

This is a module for MQL5 Wizard and Standard Library, which allows you to generate expert adviser based on arbitrary set of indicators and conditions.

state - behavioral design pattern

allow an object to alter its behavior when its internal state changes. the object will appear to change its class

Stoch RSI MT5

The Stochastic RSI indicator (Stoch RSI) is essentially an indicator of an indicator. It is used in technical analysis to provide a stochastic calculation to the RSI indicator. This means that it is a measure of RSI relative to its own high/low range over a user defined period of time. The Stochastic RSI is an oscillator that calculates a value between 0 and 1 which is then plotted as a line. This indicator is primarily used for identifying overbought and oversold conditions.

PivotPointsLines _v1.1

Draws Pivot Points Level Lines for formula's Floor,Fibonacci,Camarilla,Woodie