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2009.01.19 07:08
Experts

A Good EA by Paraboliс and Fibo Lines - expert for MetaTrader 4

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Views:
25339
Rating:
votes: 10


EA Author:

Juriy. ForTrader.ru

Buy

When the price breaks through the parabolic 0.02 & 0.2 we draw the Fibo lines between the closest minimum (before the break through of parabolic) and the maximum of the bar the break through occured at. In such a manner we obtain the level of the target at 161.8% and the level of entry at 50%. The Stop is placed at 2 pips below the last significant minimum.

Sell

When the price breaks through the parabolic 0.02 & 0.2 downwards we draw the Fibo lines between the closest significant maximum (before the break through of parabolic) and the minimum of the bar the break through occured at. In such a manner, we obtain the level of the target at 161.8% and the level of entry at 50%. The Stop is placed at 2 pips above the last significant maximum.

Picture:


Advices:

  • The EA is intended to work at M15 EURUSD chart.
  • Some functions that are used in the EA are described in my blog programmin in MQL4.
  • The more detailed description of the strategy can be found on the forum and the investigation of the strategy can be read in the 38-th issue of the journal.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/8666

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