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Published:

2020.12.24 00:57

Updated:

2020.12.24 01:22

EA_PUB_FibonacciPotentialEntries.mq4 (6.07 KB) view

Download as ZIP, How to download code from MetaEditor

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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 :

Clarity Index

Clarity index is a purely volume based indicator which is constructed on basis of volume, range and positive/negative candle count. It reflects the strength of trend with respect to volume.

MultiVote On Balance Volume

MultiVote On Balance Indicator displays a higher resolution of trading volume activity to the regular On Balance Volume calculation.

RSI dual features Cutler RSI with standard RSI full formulas

Relative price trend

EA Fibonacci Potential Entry - MT4 - expert for MetaTrader 4