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Fibo Channel

The Fibo Channel Expert Advisor trades the Fibonacci levels, that are based on the price candles of the channel. The basis of the system is trading the Fibonacci levels. The points for plotting these levels are the daily extremums, which are adjusted according to the changes in the Highs and Lows of the trading day. The signals require two components to be formed: impulse and retracement, entry is made from the retracement towards the impulse. Stop Loss and Take Profit are also set according to the Fibonacci levels. Trading is performed with a fixed lot size.


Settings

  • Channel_Clear_Hour - time (hour) to start plotting a new channel
  • Position_Signal_Type - type of the situation for the signal to open a position;
  • Position_Enter_Type - type of the situation for entering a position;
  • Position_Start_Close_Hour - time (hour) to start closing positions;
  • Position_Start_Signal_Hour - time (hour) to start searching for the signal to open a position;
  • Position_Finish_Signal_Hour - time (hour) to stop searching for the signal to open a position;
  • Position_Start_Open_Hour - time (hour) to start opening positions;
  • Position_Finish_Open_Hour - time (hour) to stop opening positions;
  • Position_SL_Fibo_Level_Type - type of the Fibonacci level for placing the stop loss;
  • Position_SL_Indent_Pips - additional offset (in points) for the stop loss;
  • Position_Critical_Fixed_SL - the maximum possible critical stop loss (in points);
  • Position_TP_Fibo_2618_Channel_Size - the minimum channel size (in points), at which the take profit is set at the Fibonacci level of 261.8% from the channel height;
  • Position_TP_Fibo_4236_Channel_Size - the maximum channel size (in points), at which the take profit is set at the Fibonacci level of 423.6% from the channel height;
  • Position_Trailing_Signal_Type - type of the Fibonacci level beyond the channel, at which trailing stop of the position is activated;
  • Position_Trailing_Close_Type - type of the Fibonacci level within the channel for placing the new stop loss (if trailing stop is active);
  • Position_ContrSignal_Close_Type - type of the opposite signal, at which the open position is closed;
  • Position_Friday_Close - close the open position before the Friday news releases;
  • Position_SL_Type - order type for the stop loss;
  • Position_TP_Type - order type for the take profit;
  • Position_Volume - volume for opening positions;
  • Magic - magic number for orders of the EA;
  • PreLoad_History_Bars - the number of bars for preloading the history when the EA is started;
  • Is_Channel_Paint - enable drawing the Fibonacci channel on the price chart;
  • Is_Comment - enable commenting the current situation of the EA on the price chart;
  • Is_Print - enable logging the EA operation to the file.
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