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Fibonacci Retracement PRO

FIBONACCI RETRACEMENT PRO is a professional expert for trading according to the Fibonacci Retracement method.

In comparison with the regular version, https://www.mql5.com/en/market/product/47166 has several advantages:

  1. MANUAL_CONFIRMATION - manual confirmation of transactions;
  2. FIBO_CLOSE_PRICE - FIBO calculation at closing prices;
  3. RSI_FILTER - input filter by modified RSI;
  4. ATR_FILTER - ATR input filter.

Fibonacci levels are built according to the standard ZIGZAG indicator. At the opening of a new bar, the adviser checks to see if a new minimum / maximum has appeared on the chart, and automatically rebuild the level grid when it occurs if there are no open positions.

    There are 4 main parameters for setting FIBO levels:

    1. TIMEFRAME_FIBO - timeframe for building FIBO levels,
    2. DEPTH - the number of candles on which the ZIGZAG vertex will not be built if the DEVIATION condition has not been met.
    3. DEVIATION - deviation (the difference between the extremes of the candles, which is considered sufficient to build a new peak. It is expressed as a percentage.
    4. BACKSTEP - the minimum number of candles between two vertices.

    The FIBONACCI RETRACEMENT PRO advisor has a partial closing of the volume of open positions. Upon reaching the level TAKEPROFIT_FIBO_LEVEL_1, the EA will close part of the position and transfer the stop loss to the breakeven level. At the level of TAKEPROFIT_FIBO_LEVEL_2, the EA will close 100% of the volume. The percentage of closure and the number of pips at breakeven are adjusted.

    Opening takes place at the levels ENTRY_FIBO_LEVEL_1, ... ENTRY_FIBO_LEVEL_5. If you do not want to use any level, then you need to set = "-1" in the parameter. Opening deals starts at level ENTRY_FIBO_LEVEL_1.

    The chart displays FIBO levels and trade statistics.

    Money Management:

    • RISK_PER_TRADE - calculation of a trading lot depending on the risk per trade. If = 0.0, then not used;
    • LOTS - starting lot for each N from the balance (parameter FROM_BALANCE);
    • FROM_BALANCE - N units of the base currency for calculating the lot;

    The most volatile pairs are suitable for work: GBPUSD, USDCAD, EURUSD, USDJPY, USDCHF, AUDUSD, NZDUSD.

    Other Parameters:

    • STARTING_TIME_ON_MONDAY - time to start trading on Monday;
    • CLOSING_TIME_ON_FRIDAY - end of trading on Friday. All positions will be closed;
    • MAGIC_NUMBER - magic number of the transaction;
    • ORDERS_COMMENT - advisor comments in the order;

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