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EA Fibonacci Potential Entry - MT5 - expert for MetaTrader 5

Rodi Chamii

Views:
2798
Rating:
votes: 21
Published:
2020.12.23 23:28

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.


REMARK:

This is the EA that will automatically place all the trades for you and will close them for you. You only need to set the inputs of the EA.


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

SCREENSHOT :

Fib Potential Entry

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Copy trading has become such a critical feature of forex trading. Some people see this as a potential business opportunity, while for opensource die-hards like me, we believe in giving back to the community rather than putting a price tag on everything 'nice'. So here it comes. A free opensource trade copier, which you are freely allowed to modify and distribute according to MIT license terms. It still has limited features, but the essentials like lot normalization are there. Please note that this copier only works for trading terminals installed on the same machine. Please share back any upgrades, enhancements or bug fixes to the discussion. Enjoy!

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