FIBONACCI RETRACEMENT-Expert advisor for method trading Fibonacci retracement. The Fibonacci levels are plotted according to the standard ZIGZAG indicator. At the opening of a new bar, the Expert Advisor checks whether a new minimum / maximum has appeared on the chart, and automatically rearranges the grid of levels when it occurs.

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With the right setup, the FIBONACCI RETRACEMENT trading strategy is quite effective.

What are the advantages:

1. up to 5 FIBONACCI levels to open trades;
2. up to 2 levels of take profit with adjustable partial closing of trades;
3. moving trades to break-even;
4. filters by opening/closing time and holding time of trades.
5. filter for the end of trading on Friday and the start of trading on Monday. *TransactionsNOT CARRIED OVER TO THE weekend;
6. control of spread expansion.

There are 5 main parameters for configuring FIBO levels:

1. TIMEFRAME_FIBO-timeframe for building FIBO levels,
2. DEPTH – the number of candlesticks on which the ZIGZAG vertex will not be built if the DEVIATION condition was not met.
3. DEVIATION– deviation (the difference between the extremes of the candlesticks, which is considered sufficient to build a new vertex. Expressed as a percentage.
4. BACKSTEP – the minimum number of candlesticks between two vertices.
5. MIN_WAVE_LENGTH – the minimum length of the last ZIGZAG wave.

In the FIBONACCI RETRACEMENT Expert Advisor, there is a partial closing of the volume of open positions. When the TAKEPROFIT_FIBO_LEVEL_1 level is reached, the EA will close part of the position and move the stop loss to the breakeven level. At the level of TAKEPROFIT_FIBO_LEVEL_2, the EA will close 100% of the volume. The closing percentage and the number of pips at breakeven are configurable.

The opening occurs at the levels ENTRY_FIBO_LEVEL_1, … ENTRY_FIBO_LEVEL_5. If you do not want to use a certain level, then you need to set the parameter = “-1”. Opening deals starts at the ENTRY_FIBO_LEVEL_1 level.

The chart shows the FIBO levels and trade statistics.

Money management:

• RISK_PER_TRADE-calculation of the trading lot depending on the risk per trade. If = 0.0, then not used;
• LOTS – the starting lot for each N of the balance (the FROM_BALANCE parameter);
• FROM_BALANCE – N units of the base currency for calculating the lot;

The most volatile pairs are suitable for working: GBPUSD, USDCAD, EURUSD, USDJPY, USDCHF, AUDUSD, NZDUSD.

Other Parameters:

• MAGIC_NUMBER – the magic number of the transaction;
• ORDERS_COMMENT – Expert Advisor comments in the order;