• Overview
  • Reviews (2)
  • Comments (7)
  • What's new

FiboStrategy MT4

The indicator is based on Fibo levels.


The Indicator's Objective

  1. Calculation of the first market movement (from levels 0 to 100).
  2. Displaying possible price movement from 100 and higher to Profit Level, as well as in the opposite direction to Correction level and Revers level depending on the direction.

The indicator is not redrawn!

All indicator levels can be configured by users:

  • CorrectLvl - correction level. When reached, level 100 is drawn (the market has performed its first movement). The recommended value is 0.055.
  • Profitlvl - auxiliary level of exiting the market with profit.
  • ReversLvl - the level, from which trading in that Fibo direction is stopped. The recommended value is 0.5.
  • RestrictLvl - auxiliary level for sorting out the market's overbought/oversold states.
  • pBand configures sensitivity of the Fibo grid calculation (in bars). The recommended value is 13.


The Sample Strategy

  1. Buy signal appears when level 100 is above level 0. A pending order can be placed at any level. Take profit is set to ProfitLvl level. Stop loss is set to ReversLvl level.
  2. If the order is not activated, while the price has reached ReversLvl, the pending order is to be deleted.
  3. Exit the market after the objective is achieved.


Alternative Usage

If you set a value for Correction parameter greater than 0.5 and 1 or greater for pBand parameter, then the indicator will calculate extremums.
Reviews 2
Paulus Nangoy
3313
Paulus Nangoy 2014.08.16 06:17 
 

Great and awesome indicator :)

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This scanner shows the trend values of the well known indicator SuperTrend for up to 30 instruments and 8 time frames. You can get alerts via MT4, Email and Push-Notification as soon as the direction of the trend changes. Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718074 You have many possibilities to use the scanner. Here are two examples: With this scanner you can trade a top-down approach easily. If two higher time
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CURRENTLY 39% OFF !! ⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a secret formula. With only ONE chart it gives Alerts for all 28 currency pairs . Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity! Built on new underlying algorithms it makes it even easier to identify an
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acedubai
2293
acedubai 2015.03.12 14:59 
 

There is no response from the developer to queries. Very confusing product.

Paulus Nangoy
3313
Paulus Nangoy 2014.08.16 06:17 
 

Great and awesome indicator :)

Reply to review
Version 1.2 2014.07.08
Added check of the number of bars pBand.
Version 1.1 2014.03.25
- Added audio signal when correction point appears.
- Added bAlertCorrection parameter to enable/disable correction point alerts.