It is an advanced counter-trend grid Expert Advisor from the FOREXTRADE series using several strategies and Fibonacci levels. The Expert Advisor analyzes the current market behavior and adapts to it by adjusting the pending order placing levels. Trades are closed by a total profit or by trailing stop. The Fibonacci levels are based on the ZigZag indicator. When the wave of Fibonacci levels expand, pending orders are modified according to the new price. The trading is performed both on roll back from a Fibo level (Rebound level) and on level breakthrough (Breakout level). Orders are placed above and below the price level. If the Fibonacci trend line changes, unused orders are removed.
- Expert Advisor type: counter-trend.
- Deposit: not less than 10,000 units per 0.1 of the standard lot
- Timeframes: from М30 to Н4
Configuration of the Action parameter using the example of Fibonacci levels from 100 to 0:
- Rebound level — if the price is below FiboLevel set in the EA parameters, a pending SELLLIMIT order is placed at this level, if the price is above FiboLevel, a SELLSTOP order is placed.
- Breakout level — if the price is below FiboLevel set in the EA parameters, a pending BUYSTOP order is placed at this level, if the price is above FiboLevel, a BUYLIMIT order is placed.
The EA can work on any currency pair. All timeframes are supported. The EA opens deals in Market Execution mode. Take Profit is added after order activation and is modified in accordance with the EA settings.
This EA version does not contain any additional filters, the pure strategy is used.
- MM — traded lot is calculated based on risk per trade;
- EquityRisk — risk percentage per deal for trading lot calculation;
- ManualLots — starting trading lot if MM=false;
- TakeProfit — take profit;
- NextLotRatio — lot multiplier;
- MinPriceStep — the minimum price distance to place new orders;
- DistanceOrderSent — distance from the price to place new orders;
- TimeFilter — the time filter is set in minutes;
- Magic — magic number;
- Com — a comment to trades;
- FiboLevel — Fibo level for opening trades;
- Backstep — minimum number of candles between connected points (ZigZag);
- Deviation — minimum distance between local extrema in percentage % (ZigZag);
- Depth — shortest distance (in candles) a new maximum or minimum will be drawn at;
- Action — type of trade. Rebound level = roll back from the level, Breakout level = level breakthrough;
- TrailingStop — number of points to start Trailing Stop;
- TrailingStep — Trailing Stop step;
- ShowInfo — show/hide trading info;
- Languages — language of the displayed trading data;
- TextColor — displayed data color.