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).
💼 Telegram chat for questions and discussion: https://t.me/forex4up_chat
- Bounce off level - when the price crosses the specified Fibo level, a Buy order is opened.
- 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.
- 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.