Fibo Trader is an Expert Advisor that allows you to create automated patterns for fluctuation patterns based on the values of Fibonacci corrections, using a fully automated and dynamically created grid.
This process is achieved by optimizing the Expert Advisor, followed by its launch in automatic mode.
The Expert Advisor allows you to switch between automatic and manual mode. In manual mode, the user is provided with a graphical panel that allows you to manage the current trading conditions, or at any time to take the trade under manual control. For example, you can reduce the required strength of movements in the Asian session to increase the frequency of automatic trades.
The adviser should be disabled during major economic events (for example: speeches of the head of the ECB, decisions on interest rates, Jobs outside the agricultural sector, etc.) and other events.
Other settings (including additional settings and detailed descriptions of the settings) are available in the PDF instructions, which can be downloaded in the “Discussion” section. Please pay attention to the video training on YouTube.
0. Trade module – Select the module: Automatic or manual panel.
- 0.1 Manual panel ON/disable AutoMode-Select the automatic module or manual panel.
1. Trade size and details – Various settings of the trading lot.
- 1.1 Base LOT SIZE – The base lot size of the first position.
- 1.2 Maximum supportive positions ( 1 main) – The maximum number of additional positions other than the original one. (limited to 2 in the free version).
- 1.3 Money Management (-1 for OFF) – The value of money management. The value of this parameter will affect the base lot size.
- 1.4 Martingale factor (x1. 0 for OFF) – The Martingale multiplier allows you to gradually increase the position size. .
- 1.5 Block one direction of trades – Block one direction of trades – for trends. Use with low (2.6) settings, preferably 23%. .
- 1.6 Magic Number – the magic number for transactions and saved states.
2. Fibonacci Positioning and Open/Close Settings-General settings for managing positions.
- 2.1 Hold position at X FIB ret – Position target for the middle position. X [ % ] is the target for moving the middle position.
- 2.2 Let position slip X [%] before taking action-After setting the position to (2.1), the position may slip X [%] until the position is re – “fixed” at (2.1).
- 2.3 Close position at X FIB ret-Close the position when the Fibonacci correction X is reached.
- 2.4 Minimum “unloaded” pips trend – The minimum step size in pips to open the opposite position.
- 2.5 Reduce close requirements by a degree – If the trend is much larger than the requirements, reduce the closing of positions by Fibonacci.
- 2.6 Trailing stop – Trailing stop for open positions.
- 2.7 Reset non-used trends at Fibonacci level X-Reset the opposite trends when trading in one direction. Set it low if the trend is strong.
- 2.8 Zero MIN/MAX Fibonacci at Take Profit-Reset the minimum and maximum when the target correction is reached.
3. Refresh and Filters – Allows you to configure some filters.
- 3.1 a MA Cross Open Filter – Filter by the moving average.
- 3.1 b MA Cross PIPS – Additional pips that must be between 2 moving averages to open a position.
- 3.2 a Channel Filter-Filter on the channel of bands.
- 3.2 b Channel Range – The channel range in the form of a “deviation” (usually from -2 to 2).
- 3.2 c Channel Refresh – the refresh rate of the channel. (5 minutes is recommended).
4. Stop Loss-Stop Loss settings.
- 4.1 Stop Loss in [%] (0 for OFF) – stop loss when money management is enabled.
- 4.2 Stop Loss in points per base lot (0-OFF) – stop loss both with and without money management.
- 4.3 Reset Trading after Stop Loss-Resets trading after reaching the stop loss.