The Expert Advisor is fully automated. It uses moving average to determine the trend. The Expert Advisor places a Fibonacci chart on the graphic and moves it with the trend. The Expert Advisor waits for correction and places orders on Fibonacci levels 23.6, 38.2, 50.0 and 61.8.
The Expert Advisor has best results on USD/EUR chart and M30 timeframe. The Expert Advisor will work successfully on any currency pair.
The Expert Advisor has a manual mode function where user can place a Fibonacci chart on the graphic according to his/her needs. The EA will move the Fibonacci chart with the trend, will open and close orders according to the settings chosen by the user.
There are no special requirements for the Expert Advisor. A single CPU and 1 Gb of memory will suffice for the needs of the Expert Advisor.
We recommend the use of VPS hosting.
- The EA works with a minimum of $200 USD on lot size 0.01.
- It is recommended to use the Expert Advisor on M30 timeframe.
- To work with several symbols, simply launch the Expert Advisor on the charts of your choice. Remember to use M30 timeframe.
- Before you start trading on a real account, test the Expert Advisor in the strategy tester. You may perform a rough test at the reference points to evaluate the specified Risk and Frequency parameters. Adjust them if necessary.
- Trading mode – Auto/ Manual. If manual mode is selected the user will have to place a Fibonacci chart and press the start button. The EA will open and close orders as per below settings and wait for a new Fibonacci chart to be placed on the graphic;
- Min bars between fibo 0% & 100% levels – minimum bars needed for the EA to place a Fibonaci chart;
- Days to observe (include today) – function that works with the trend to determine the highest or lowest point of the chart for a number of days;
- Start level – from which Fibonacci level the EA will start to take orders;
- Level Tolerance – sets pips deviation on Fibonacci levels;
- Trade on Friday? – true / false;
- Total order limits – sets the number of orders on Fibonacci chart from 1 to 4;
- Initial lot size – sets the starting lot;
- Lot multiplier – multiplies the lot size as follows - if total order limit is set to 4, initial lot size is 0.1 and the lot multipier is set to 2, the EA will open 4 orders as follows: Order One - 0.1, Order Two - 0.1, Order Three - 0.2 and Order Four - 0.2;
- Slippage – maximum acceptable slippage in points;
- Magic Number – unique ID;
- Market Execution - true/false. If false the EA will put pending orders;
- Reverse min bars above or below MA - function to determine trend reverse using bars that crossed MA;
- Take profit level - take profit level on Fibonacci levels;
- Stop loss level - stop loss level between Fibonacci levels 61.8 and 100;
- Trailing trigger level - The level that sets the trailing stop loss;
- Trailing distance in points - sets number of pips from the selected trailing trigger level;
- Minimum trailing step - sets number of pips to move the trailing stop;