The Expert Advisor has been specifically developed for trading gold (Spot Gold).
The strategy is based on Fibo levels calculated from the previous (first) candle High/Low and the width of the current and lower timeframes channel. If important Fibo levels of different orders are located in a single price channel (within a spread), the EA defines this channel as the target for price movement and starts operation.
Martingale and averaging are not used. Each order is independent and is accompanied by a stop loss and take profit.
The strategy applies a trailing stop.
It is recommended using this EA on gold (Gold Spot, XAUUSD, etc.).
- Comment to order - open orders comments;
- MaxRisk - maximum risk per trade;
- if MaxRisk = 0, Lot will be - lot if MaxRisk=0;
- Take Profit - take profit;
- Stop Loss - stop loss;
- Enable trailing-stop - enable trailing stop;
- Trailing Start - trailing start;
- Trailing Step - trailing step;
- Max orders in the market - maximum number of simultaneous orders;
- Max Spread - maximum allowable spread;
- Slippage - slippage level;
- Magic - magic number to distinguish EA's own orders.