Fib by EV

Fibonacci Retracement EA

Fibonacci Retracement EA is a rules-based Expert Advisor for MetaTrader 5. It identifies confirmed swing points, measures the impulse, and looks for a continuation entry after price retraces into the 50%–61.8% Fibonacci zone.

How it works

1. Finds the latest confirmed fractal high and low.
2. Checks that the impulse is at least the configured size relative to ATR.
3. Optionally filters trades by the EMA trend.
4. Waits for a candle to overlap the 50%–61.8% retracement zone and close beyond the 50% level in the direction of the impulse.
5. Opens a market order after confirmation.

The stop is placed beyond the 78.6% level with an ATR buffer. The take profit targets the configured Fibonacci extension; the risk-to-reward fallback can extend the target when needed.

Features

• Configurable signal timeframe, swing lookback, Fibonacci levels, and ATR settings
• Optional EMA trend filter
• Position sizing based on account equity and stop distance
• Spread filter and broker volume-limit handling
• Signal timeframe can differ from the chart timeframe

Attach one instance per symbol and configure its inputs for your broker and instrument. The default signal timeframe is M15. Test the EA with your broker’s historical data before live use. Past performance does not guarantee future results.