DivToFibo is a traditional medium-term Expert Advisor that is able to work with any currency pair and has low requirements for trading conditions. Its strategy is based on trend roll-back towards the Fibo levels when a divergence is formed. Wide settings of trend and divergence search help to successfully avoid false signals.
- medium-term trading, not scalping
- clear logic
- no martingale
- trades any pair
- Minimal deposit: $1000 ($10 for cent accounts)
- Account type: any
- Currency pairs: any
- Timeframe: M15
- UseInnerPresets - use the EA's internal settings
The EA ignores all external parameters except for risk control section in this case. With this function, there is no need to load particular presets for every pair. The internal settings are identical to attached presets and work with all pairs formed by AUD, EUR, GBP, USD, CHF, JPY and NZD.
- Hide_TP - hide take profit from a broker
Absence of a visible take profit is good against dishonest brokers but is bad in case of disconnections.
- MagicNumber - magic number of the EA's orders
- ShowPanel - show the information panel
Risk control section
- Lots - fixed lot size
- Risk - dynamic risk
- LotDigits - number of digits in lot size
- FixLots - use fixed lot
- TPLevel - take profit level in percents of trend size (values close to the Fibo levels, e.g. 23 or 38, are recommended)
- MinTP_Points - minimal size of take profit in points (signal is skipped if calculated take profit is smaller than this value)
- LockDistance - minimal step between orders in the same direction
- UseFixedSL - set a fixed stop loss
- SL_Points - fixed stop loss size in points
- MaxSpread - maximal spread to open trades
Stop loss control section
- UseFixedSL - use stop loss in trading. Optimal stop loss settings for every pair are included into internal presets and are activated when UseInnerPresets and UseFixedSL are enabled. These settings correspond to larger values of stop loss that have low impact on everyday trading but save your deposit from abnormal price movements
- SL_CalcMethod - stop loss calculation method
- SL_CalcFrom - reference point for setting stop loss
- SL_Points - value of stop loss in points when SL_CalcMethod = Manual points
- SL_TrendPercent - value of stop loss in % of trend size when SL_CalcMethod = In % of trend size
- ATR_Period - ATR period used for calculation of stop loss when SL_CalcMethod = ATR based
- ATR_Coeff - coefficient of ATR
- BBands_Period - period of Bollinger Bands used for calculation of stop loss when SL_CalcMethod = Bollinger Bands based
- BBands_Coeff - coefficient of Bollinger Bands
Divergence control section
- Use_RSI_Divergence - use divergence with the RSI indicator (the possibility to use other indicators is expected to be added in next releases)
- RSIPeriod - RSI indicator period
- DivergenceMinLength - minimal length of divergence
- DivergenceMaxLength - maximal length of divergence
- StartMax - minimal value of RSI for the first maximum of bearish divergence
- StartMin - maximal value of RSI for the first minimum of bullish divergence
- DivergenceStrength - minimal incline of divergence on the RSI chart
- MaxDivIncline - maximal incline of divergence on price chart (helps to avoid very strong movements)
- FractalBars - size of fractals that form divergence
Trend control section
- SearchLength - depth of trend search on the chart
- MinTrendLength - minimal length of trend
- AdditionalBars - extension of trend into history
- TrendLifeTime - trend life time in bars, after which all information about trend is deleted
- TrendSleep - allowable period of trend stagnation
- TrendProlongation - extension of trend as it develops in future
- Bollinger_Period - period of Bollinger channel that is used to evaluate trend size relative to the current volatility
- MinTrendRange - minimal trend size relative to the width of the Bollinger channel
- ControlMA_Period - period of the moving average that is used for trend searching
- ControlMA_Tg - minimal inclination of the moving average in trend
- MaxTgChange - allowable change of inclination of moving average over the trend
- ShowTrendOnChart - show trends on the chart
Custom parameters section
There are settings asked by buyers but useless in my opinion. These functions have no impact on trading by default. You may ignore them.
- CloseAllPositionsAt - close all open positions at the end of the week. The function is disabled by default. It is possible to select Friday or Saturday for brokers with a large positive GMT.
- HourOfClosing - hour to close positions.
- StopBar - trade closes anyway after stop bars are passed.
- MaxTrades_CurrentPair - maximal number of simultaneously opened trades for the current pair.
- MaxTrades_AllPairs - maximal number of simultaneously opened trades for all pairs. You need to set the same magic number for all pairs to use this function.
The EA automatically detects the number of digits in the quotes. Attached and integrated presets are suitable for any account type of 4 or 5 digits.
The stop loss turning off while using HideTP has been fixed.
Improved the system of trend searching during initialization.
Added the section of custom parameters.
Added the ability to force close positions at the end of the week.
Reoptimization of parameters for some pairs had been carried out.
Optimal stop loss parameters had been included into internal presets.
Fixed stop loss is added.
Minor errors are fixed.