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Fibo Expert MT5

The Expert Advisor is based on Fibonacci levels. In their turn, Fibo levels rest on ZigZag indicator. The trading is performed both on roll back from a Fibo level (Bounce off level) and on level breakthrough (Breaks the level).

  1. Bounce off level - when the price crosses the specified Fibo level, a Buy order is opened.
  2. Breaks the level - when the price crosses the specified Fibo level, a Sell order is opened.

The EA trades any currency pair, metals and stocks. All timeframes are supported.

Parameters

  • Lots - fixed trading lot;
  • StopLoss - stop loss level in points;
  • TakeProfit - take profit level in points;
  • Action - the action to be performed when the levels are touched. Bounce off level = roll back, Breaks the level = breakthrough;
  • MagicNum - trade magic number;
  • TextColor - displayed data color;
  • MinWavelength - minimum wave length for opening trades;
  • MaxWavelength - maximum wave length for opening trades;
  • FiboOpenDeal - Fibo level for opening trades;
  • Backstep - the minimum number of candles between connected points (ZigZag);
  • Deviation - the minimum distance between the local extrema, in percentage % (ZigZag);
  • Depth - the shortest distance (in candles) the new maximum or minimum is drawn at;
  • BreakevenDeals - if true, trades are moved to breakeven;
  • BreakevenStart - the minimum number of points passed by the price to move a position to breakeven;
  • BreakevenStep - minimum profit in points to move positions to breakeven;
  • Trailing - point based trailing if set to true;
  • TrailingStart - the minimum number of points passed from the order open price for the trailing;
  • TrailingStop - the number of points to start trailing stop;
  • TrailingStep - trailing stop step;
  • TrailingHiLow - trailing based on the Hi - Low of the previous bars if set to true;
  • TimeFrame - the timeframe to search for the extrema of previous bars;
  • BarCount - the number of past bars to search for extrema;
  • IndentHiLow - shift of Hi - Low from the highest/lowest value.
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