• Overview
  • Reviews
  • Comments (3)

Fibo Expert MT5

The Expert Advisor is based on Fibonacci levels. In their turn, Fibo levels rest on ZigZag indicator. The trading is performed both on roll back from a Fibo level (Bounce off level) and on level breakthrough (Breaks the level).

  1. Bounce off level - when the price crosses the specified Fibo level, a Buy order is opened.
  2. Breaks the level - when the price crosses the specified Fibo level, a Sell order is opened.

The EA trades any currency pair, metals and stocks. All timeframes are supported.

Parameters

  • Lots - fixed trading lot;
  • StopLoss - stop loss level in points;
  • TakeProfit - take profit level in points;
  • Action - the action to be performed when the levels are touched. Bounce off level = roll back, Breaks the level = breakthrough;
  • MagicNum - trade magic number;
  • TextColor - displayed data color;
  • MinWavelength - minimum wave length for opening trades;
  • MaxWavelength - maximum wave length for opening trades;
  • FiboOpenDeal - Fibo level for opening trades;
  • Backstep - the minimum number of candles between connected points (ZigZag);
  • Deviation - the minimum distance between the local extrema, in percentage % (ZigZag);
  • Depth - the shortest distance (in candles) the new maximum or minimum is drawn at;
  • BreakevenDeals - if true, trades are moved to breakeven;
  • BreakevenStart - the minimum number of points passed by the price to move a position to breakeven;
  • BreakevenStep - minimum profit in points to move positions to breakeven;
  • Trailing - point based trailing if set to true;
  • TrailingStart - the minimum number of points passed from the order open price for the trailing;
  • TrailingStop - the number of points to start trailing stop;
  • TrailingStep - trailing stop step;
  • TrailingHiLow - trailing based on the Hi - Low of the previous bars if set to true;
  • TimeFrame - the timeframe to search for the extrema of previous bars;
  • BarCount - the number of past bars to search for extrema;
  • IndentHiLow - shift of Hi - Low from the highest/lowest value.
No reviews