Robonacci is an intelligent robot that seems to understand the inherent nature of the market EURUSD very well. It uses Fibonacci Retracement levels extensively to determine potential support and Resistance levels. Although it uses levels for entry position, it’s main focus is to stay with the trend as long as possible. In its underlying strategy it uses “Cut the loses early and let the profit run” which is why it has a low winning rate. The robot uses four different market conditions: Ranging, Trending, Oversold and Overbought. Given the market conditions Robonacci check price actions found on the Fibonacci levels and applies appropriate strategy. It places only one trades at a time, does not use any martingale or any greedy money management practices.
Features and their settings:
Slippage: Maximum 5
Spread: Maximum 5
TrailingStop: In case you want to use this EA for scalping. Will be activated only when Order Commission and Order Swap fees has covered.
StartingLotSize: If you want to use auto lot then the EA starts from this lot size.
UseAutoLotSize: Set it to true if you want to use auto lot.
LotSize: If auto lot size is not in use then EA will use this lot size and continue.
UseExtraCaution: Move stop losses when 90% Profit reached
UseSuperCaution: Move stop loss when profit target is less than 10 Pips (100 Points) away
//Spread filter added
//Commission and swap fees check on trailing stop