Auto Fibo MTF EA
- Experts
- Version: 1.42
Overview
The OFT Auto FIBO - EA (v1.40) by Trading Public School is a fully automated, Multi-Timeframe (MTF) algorithmic trading system for MetaTrader 5. It is designed to identify swing highs and lows across up to six different timeframes simultaneously, calculating precise Fibonacci retracement zones (specifically the 50% to 61.8% equilibrium/golden zone) to determine market bias.
By default, the EA operates on a contrarian/retracement logic, anticipating market pullbacks, and features a robust suite of trade management tools including automatic risk calculation, news filtering, and dynamic trailing stops.
Core Trading Strategy & Logic
1. Multi-Timeframe Swing Detection
The EA does not rely on traditional lagging indicators. Instead, it reads raw price action (body-to-body swings) across user-selected timeframes (H4, H1, M30, M15, M5, and the Current chart).
- It scans a lookback period to identify the highest highs and lowest lows.
- Based on the sequence of these extremes (e.g., a low followed by a high indicates a bullish swing), it assigns a directional bias to each timeframe.
2. The 50% - 61.8% Fibonacci Zone
Once a valid swing is detected, the EA automatically calculates the retracement zone:
- Bottom of zone: 50% retracement (Equilibrium)
- Top of zone: 61.8% retracement (Golden Ratio)These zones are drawn directly on the chart as colored rectangles, visually mapping out high-probability areas often referred to by institutional traders as "Premium/Discount" or "Optimal Trade Entry" (OTE) zones.
3. Confluence & Entry Logic
The EA uses a voting system to trigger trades:
- MTF Agreement: It requires a minimum number of timeframes (default is 4) to agree on the same bias before considering an entry.
- Signal Inversion (Default: True): Interestingly, if the overall MTF bias is Bullish, the EA looks to open a SELL position. This indicates the system is designed to catch the deep retracement back into the Fibonacci zone rather than blindly buying the top of a swing.
- Reversal on Flip: If the multi-timeframe bias flips while a trade is active, the EA can immediately close the current position and reverse direction.
Trade & Risk Management
- Auto Lot Sizing: Automatically calculates position sizes based on a user-defined risk percentage (e.g., 1% of account balance) relative to the Stop Loss distance. A manual fixed lot option is also available.
- Profit Lock (Break-Even): Once the trade reaches a set profit target (e.g., 100 points), the EA moves the Stop Loss to the entry price plus a guaranteed profit margin, securing a risk-free trade.
- Dynamic Trailing Stop: After the profit lock is triggered, a classic trailing stop follows the price at a designated distance, stepping up only when the market moves favorably.
- Max Spread Filter: Prevents the EA from executing trades during highly volatile or illiquid periods where spreads widen dangerously.
Institutional / Smart Money Filters
- Built-in MT5 News Filter: The EA taps directly into the MT5 Economic Calendar. It will automatically pause all trading activity a set number of minutes before and after High-Impact (Red Folder) news events, protecting the account from unpredictable slippage and spread spikes.
- Single Trade Execution: Enforces a strict "one trade at a time" rule per symbol, preventing dangerous martingale or grid behavior and keeping margin usage safe.
Visuals & User Interface
The EA features a dynamic, 3D-styled on-chart dashboard that provides real-time telemetry without cluttering the workspace. The dashboard displays:
- The current market bias (Bullish/Bearish) for every enabled timeframe.
- Live spread and tick price.
- EA Status (Scanning, Engaged, Paused by News, or Locked).
- Active trade details (Direction, Lot Size, Current SL, and Realized Profit in the account's base currency).
- The dashboard border changes color dynamically based on real-time price ticks (Green for up, Red for down).
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