Fibo Expansion Auto Redraw Trade Assistant

Current price is an introductory launch price for early users. The price may be adjusted in future versions as the product receives updates and improvements.

Fibo Expansion Auto Redraw Trade Assistant is a MetaTrader 4 Expert Advisor designed to help traders manage trades and alerts around manually drawn Fibonacci Expansion objects.

The EA works with a user-defined Fibonacci Expansion setup. It can send alerts or open trades at predefined FE levels, using risk percent position sizing, a maximum spread filter, Stop Line protection and selected alert channels.

As price develops, the EA can automatically redraw the monitored Fibonacci Expansion object after a qualifying pullback. This helps keep the active FE structure aligned with the latest expansion-and-pullback sequence, without rebuilding the object manually after every valid update.

The trader remains in control of the initial analysis, Fibonacci Expansion object placement, FE levels, risk settings and execution mode.

Product Overview

This EA is a trade management assistant for traders who work with repeated Fibonacci Expansion and pullback sequences. It does not replace analysis. It helps manage the object, alerts and optional execution around a setup drawn by the trader.

The tool is intended primarily for Forex testing first. Metals, indices and crypto CFDs may depend on broker-specific symbol settings such as tick value, tick size, lot step, minimum lot and stop level.

Core Workflow

The EA uses a single-entry configuration per monitored Fibonacci Expansion object: one setup color, one BUY entry and one SELL entry.

This is not a one-object limit. If several Fibonacci Expansion objects with the selected color are placed on the same chart, each matching object can be handled as a separate setup using the same input settings.

Key Features

• Works with manually drawn Fibonacci Expansion objects.
• Pullback-confirmed Fibonacci Expansion auto-redraw.
• One selected setup color.
• One BUY entry and one SELL entry per monitored FE object.
• Entry, Stop Loss and Take Profit based on FE levels.
• Risk percent lot calculation.
• Maximum spread filter.
• Stop Line support.
• AlertOnly mode.
• AutoTrade mode.
• RedrawOnly mode.
• Popup and push alerts.
• Multiple matching FE objects can be monitored on the same chart.

Quick Start

1. Open a chart in MetaTrader 4.
2. Attach Fibo Expansion Auto Redraw Trade Assistant to the chart.
3. If you want automatic trading, enable Allow live trading in the EA settings and enable AutoTrading in MT4.
4. By default, the EA runs in the safer AlertOnly mode, which sends alerts but does not open trades.
5. Manually draw a Fibonacci Expansion object on the chart.
6. Set the ray/main object color of the Fibonacci Expansion object to match FiboColor1.
7. By default, FiboColor1 = Red; this means the color of the FE rays/main object, not the colors of individual FE levels.
8. The EA monitors only Fibonacci Expansion objects with the selected color.
9. You can place several matching Fibonacci Expansion objects on one chart. Each matching object is treated as a separate setup.

Execution Modes

• AlertOnly - the EA sends entry alerts but does not open trades.
• AutoTrade - the EA can open trades when the conditions are met.
• RedrawOnly - the EA only monitors and redraws Fibonacci Expansion objects, without entry alerts and without trades.

Fibo Settings

1. FiboColor1 selects the Fibonacci Expansion object color the EA should monitor.
2. Minimum Fibo Pullback Range (Points) defines the minimum required pullback range in points.
3. The EA uses FE levels configured in the EA inputs, not the visual level list shown inside the Fibonacci Expansion tool.
4. The colors of individual FE levels are not used to identify a setup. The EA uses the ray/main object color.

BUY And SELL Settings

BUY Settings

1. BuyBrTouch defines the BUY touch level before redraw.
2. BuyBrUpdate defines the BUY breakout/update level for redraw.
3. BuyRiskPcnt defines BUY position risk as a percent of account balance.
4. BuyFEOpen defines the FE level for BUY entry.
5. BuyFESL defines the FE level for BUY Stop Loss.
6. BuyFETP defines the FE level for BUY Take Profit.

SELL Settings

1. SellBrTouch defines the SELL touch level before redraw.
2. SellBrUpdate defines the SELL breakout/update level for redraw.
3. SellRiskPcnt defines SELL position risk as a percent of account balance.
4. SellFEOpen defines the FE level for SELL entry.
5. SellFESL defines the FE level for SELL Stop Loss.
6. SellFETP defines the FE level for SELL Take Profit.

Risk And Execution

1. By default, BuyRiskPcnt and SellRiskPcnt are set to 0.1, meaning 0.1% of account balance.
2. MaxSpread blocks entry if spread is higher than the configured limit.
3. MagicNumber identifies trades opened by the EA.
4. SlippagePoints defines allowed slippage in points.
5. The EA checks minimum lot, maximum lot, lot step, margin and the broker's minimum SL/TP distance.

Stop Line

1. If StopLine = true, the EA can stop after price touches a special horizontal line.
2. To use Stop Line, draw a horizontal line on the chart.
3. Set the line color to blue.
4. Set the line width to 3.
5. When price touches this line, the EA stops working on that chart.

Alerts

1. UsePushNotifications = true enables push notifications to the MT4 mobile app.
2. UsePopupAlerts = true enables popup alerts inside the MT4 terminal.
3. For push alerts to work, configure notifications in MT4 settings first.

Auto-Redraw

1. Auto-redraw updates the Fibonacci Expansion object only when the configured touch/breakout conditions are met.
2. Auto-redraw does not predict market direction.
3. Auto-redraw does not search for setups by itself.
4. The trader remains responsible for the initial analysis and the first manually drawn Fibonacci Expansion object.

Testing Notes

1. Test the EA in Strategy Tester first.
2. Then test it on a demo account.
3. Check the Experts and Journal tabs.
4. Verify lot size, SL, TP, spread and auto-redraw behavior.
5. Test primarily on major Forex pairs first.
6. Metals, indices and crypto CFDs may depend on broker settings such as tick value, tick size, lot step, minimum lot and stop level.

Important Notes

1. The EA does not provide financial advice.
2. The EA does not guarantee profit.
3. The EA does not find trades without a user-drawn setup.
4. The EA is a tool for alerts, execution and Fibonacci Expansion object management.
5. Always test any trading tool on a demo account before using it on a live account.

FAQ

Is this an indicator?

No. It is a MetaTrader 4 Expert Advisor. It can monitor the chart, send alerts and optionally place trades through MT4.

Does the EA find setups automatically?

No. The user manually draws the Fibonacci Expansion object. The EA manages the setup that is already placed on the chart and matches the selected color.

Can it open trades automatically?

Yes, if TradeMode is set to AutoTrade and MT4 AutoTrading is enabled. In AlertOnly mode, the EA sends alerts only.

Can I use it only for alerts?

Yes. AlertOnly mode is designed for manual trading, testing and setup monitoring without automatic execution.

Why does the EA not react to my Fibonacci object?

Common reasons include:

• the object color does not match FiboColor1,
• Fibonacci Retracement was used instead of Fibonacci Expansion,
• the market is not receiving ticks,
• the EA is not active on the chart,
• the Stop Line has stopped the EA,
• the range is smaller than Minimum Fibo Pullback Range (Points).

Can I use more than one FE object on the same chart?

Yes. If several Fibonacci Expansion objects use the selected FiboColor1, each matching object can be treated as a separate setup. All matching objects use the same EA inputs.

Does this include multiple entry levels?

No. The EA uses a single-entry configuration per monitored FE object: one BUY entry and one SELL entry.

Does it include partial close, break even or trailing stop?

No. This version is focused on a clean workflow: manually drawn Fibonacci Expansion, pullback-confirmed auto-redraw, Entry / SL / TP, risk percent, alerts and optional AutoTrade.

Does auto-redraw predict the market?

No. Auto-redraw does not predict direction. It only updates the Fibonacci Expansion object when the configured redraw conditions are met.

Does it work on gold, indices or crypto CFDs?

It may work, but broker specifications matter. For metals, indices and crypto CFDs, always check tick value, tick size, minimum lot, maximum lot, lot step and stop level. Test on demo first.

Does the EA guarantee profit?

No. The EA does not guarantee profit and does not remove trading risk. It is a trade management and execution assistant for user-defined setups.