Imbalance Fibonacci EA
- Experts
- Daniel Johannes Kiefer
- Versão: 1.0
- Ativações: 5
Moderate Risk Signal Tickmill 2.6%
High Risk Signal Robo-Forex 9.8%
This Expert Advisor (EA) is based on the highly popular open-source indicator "[IMBA] Lance Algo" from TradingView. It enables fully automated trade execution of the corresponding signals, as well as robust backtesting and subsequent optimization. It is a clear trend-following system and therefore not suitable for sideways markets.
Description
Original author’s functional description:
“The indicator displays the trend using the 0.5 Fibonacci level over a defined period. A buy signal occurs when at least one candle closes above the 0.236 level (long positions); a sell signal occurs when at least one candle closes below the 0.618 level (short positions). With proper settings, the indicator works great on any asset and any timeframe!”
The indicator was initially rebuilt from TradingView 1:1 for MT5, and an additional EA was developed to execute trades based on those signals. Both were later merged into a single EA for market validation purposes.
The EA has been tested over several months for stability and execution accuracy. The signals, entries, SL, and TP levels match those on TradingView with over 99.5% accuracy (see screenshot; deviations are usually limited to half the spread). Tests were conducted on Eightcap, Tickmill, and RoboForex. Minor deviations are unavoidable due to differences in platform feeds, quotes, and latency.
Visualizations were meticulously aligned to replicate TradingView’s display as closely as possible within MT5’s capabilities, to ensure maximum familiarity for existing TV users and optimal comparability. All key input parameters from the indicator have been retained and function accordingly. Additional options have been added, particularly trading time restrictions.
Purpose of EA Development
This EA was created because the indicator’s signals on TradingView proved to be consistently profitable in several setups after careful optimization. However, trading directly on TV comes with several significant drawbacks:
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The indicator works on TradingView using only OHLC data, which often causes misleading “Profit Panel” results — break-even or even losing trades are often shown as winners.
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TradingView alerts are notoriously unreliable — they often trigger late or not at all, leading to poor entries.
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Depending on the asset, signals may appear at times when you can’t manually place trades fast enough.
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Reliable backtesting is not possible.
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Fully automated trade execution is not supported.
Advantages of the EA
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Executes all indicator signals instantly and precisely.
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Nearly 100% backtesting reliability using real tick-data, with straightforward optimization via standard MT5 parameters.
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Fully automated. No alerts, no manual entries, no missed trades.
Important Note: "Profit Panel"
Use the “Profit Panel” information with caution. Just like on TradingView, the values are based on OHLC data in MT5. They can provide an initial reference for potentially profitable setups, but must always be validated through backtesting.
Values such as “Win Streak,” “Loss Streak,” and “Winrate” fully match backtest results only when the Break-Even (BE) feature is disabled. This is because the indicator counts BE trades as winners, whereas in MT5 they often close with a small loss and are therefore recorded as losing trades in backtest summaries.
To emphasize again: the EA’s primary purpose is to trade the indicator’s signals. Actual profitability must be determined through proper backtesting and optimization.
Support
I am not a developer myself — the EA was commissioned from a professional developer here. Therefore, I cannot provide direct technical support. However, if significant inconsistencies between indicator signals and EA executions occur repeatedly, I will commission corrective adjustments if necessary.
Please be sure to download and test the demo version thoroughly before purchase. Refunds cannot be issued after purchase.
Additional Set Files
It is not my responsibility to guarantee the EA’s performance. Alongside the provided set files, each user is responsible for creating their own setups and for the EA’s resulting performance.
Currently, the following assets show strong potential:
XAUUSD, EURJPY, US100 (NASDAQ), DE40 (DAX), Tesla CFD, SOLUSD, BTCUSD
Recommended starting parameters for optimization: Sensitivity, TP1-Level, and TP4-Level. Afterward, adjust Risk.
Personally, I do not use multiple TP levels for partial profits — only TP1 is used to determine BE. The trade then closes either by reaching TP4, triggering SL/BE, or on a new signal.
DM me for the USDJPY set file.
