This Expert Advisor trades according to the following strategy: if the previous deal is losing then the volume of the next deal is calculated using the next Fibonacci level.
A Fibonacci level in this Expert Advisor is the index of a number in the Fibonacci sequence. The maximum number of numbers is set via the parameter Fibonacci maximum. If a deal performed using the maximum Fibonacci number has appeared to be losing, the "cycle of volume calculation" is considered to be losing and it starts from the beginning. Any profitable deal also restarts the cycle.
The volume of the current deal is calculated using the following formula: Volume = [Start Volume]*f(K)*[Fibonacci level value] , and the coefficient formula f(K) = K+[Fibonacci level value-1]*[Increment K].
The direction of deals depends on the strategy chosen:
- oneway - the direction of deal always matches the Main Direction.
- toggle - the direction of deal is opposite to the previous direction if the position is closed with loss.
- path - the direction of deal is calculated using the "path" specified by a user. 0 means "the direction matches the Main Direction", and 1 means opposite direction.
- tpath - the direction is calculated using the "path". If the "path" has been completed (the end is reached or the deal is losing), then the path is inverted.
The Expert Advisor includes the following features:
- Fibonacci SL/2 - Fibonacci level starting from which the Stop Loss is decreased to half of its original size.
- Support Level - Fibonacci level starting from which the Stop Loss will be moved to save the profit of a profitable position. The support levels are calculated so that they divide the range from [PossitionPrice:Profit=0] to [PositionPrice:TakeProfit] using the value Support Delta. New Stop Loss will be equal to [Current support level]-[Support StopLoss].
- K - additional coefficient that allows the Expert Advisor increasing the volume of deals by its own.
Any of this function can be disabled by setting a value for it that is greater than the maximal Fibonacci number.