Semi-auto EA based on Fibonacci expnsion lines

Strategy Description

This strategy will utilize Fibonacci Expansion lines in MT4.

Functionality:

1. Manual Setup:
   • After activating the strategy, I must be able to use the Fibonacci Expansion tool to define the initial range.
   • Before execution, I must manually set the BUY level, Stop Loss (SL), and Take Profit (TP) levels.

Execution Conditions:

Picture 1 – Trade Execution

• When the price reaches the predefined level (e.g., FE 100) after applying the Fibonacci Expansion tool and defining the price range, a BUY order is executed.
• Stop Loss (SL) is placed at the predefined level (e.g., FE 150).
• Take Profit (TP) is set at the predefined level (e.g., FE 0).

Automatic Adjustment – Price Breaks FE 0 Before Reaching FE 100

• If the price breaks FE 0 before reaching FE 100, the tool automatically re-adjusts itself to the new price range and continues monitoring for price movement towards the new FE 100 level.

Picture 2 – Range Update

• If the price exceeds FE 100 and then later breaks FE 0, the tool updates the initial range by extending it to the new price level reached after breaking the previous FE 100.
• This new range will now be used for future calculations.

Stop Loss Condition – No Immediate Re-Entry

• If the position closes at Stop Loss (SL) but the price does not break FE 0, no new position is opened.
• A new trade will only be executed after the price breaks FE 0 and the range is updated accordingly.