About the Fibonacci Expert Advisor
The Fibonacci MetaTrader 4 Forex Robot is an automated trading system designed to execute trades based on Fibonacci retracement levels.
By identifying key levels of support and resistance, the EA aims to enter trades with high probability setups, enhancing trading precision and consistency.
This Expert Advisor operates by analyzing price movements and applying Fibonacci ratios to determine optimal entry and exit points.
It automatically places trades, manages stop-loss and take-profit levels, and adjusts positions according to market conditions, reducing the need for manual intervention.
Free Download
Download the “FIBONACCI V1.mq4” MT4 robot
Key Features
Fibonacci-Based Entries
The EA identifies key Fibonacci retracement levels to determine optimal entry points, aligning trades with potential market reversals.
Automated Trade Management
Automatically sets stop-loss and take-profit levels based on Fibonacci extensions, ensuring consistent risk management.
Customizable Parameters
Users can adjust settings such as lot size, risk percentage, and Fibonacci levels to tailor the EA to their trading strategy.
Multi-Currency Support
The EA is compatible with various currency pairs, providing flexibility for traders to diversify their portfolios.
Timeframe Flexibility
Suitable for multiple timeframes, allowing traders to apply the EA to different trading styles and strategies.
Strategy Tester Report
Find below the Fibonacci forex robot strategy tester report for the EUR/USD forex pair on the daily chart.
Key Performance
The EA made a total profit of $10026.37 from a total of 209 trades.
The largest winning trade generated $561.48 in profits, while the largest losing trade generated a loss of $439.66.
Statistics:
Bars in test: 2048 ticks modelled
Initial deposit: $10000.00
Total net profit: $10026.37
Total trades: 209
Largest profit trade: $561.48
Largest loss trade: -$439.66
Consecutive wins: 4
Consecutive losses: 1
How the EA Works
- Analyzes price movements to identify Fibonacci retracement levels.
- Places buy or sell orders when the price reaches key Fibonacci levels.
- Sets stop-loss and take-profit levels based on Fibonacci extensions.
- Adjusts positions as the market moves to lock in profits or minimize losses.
- Monitors multiple currency pairs and timeframes for optimal trading opportunities.
Download Now
Download the “FIBONACCI V1.ex4” Metatrader 4 robot
Parameters & Settings
- Lot Size: Set the volume of each trade.
- Risk Percentage: Define the percentage of account equity to risk per trade.
- Fibonacci Levels: Adjust the key Fibonacci retracement and extension levels.
- Stop-Loss: Set the maximum allowable loss per trade.
- Take-Profit: Define the profit target per trade.
- Timeframe: Select the timeframe for analysis and trading.
Recommended Trading Setup
- Use major currency pairs like EUR/USD, GBP/USD, and USD/JPY.
- Apply the EA on H1 to H4 timeframes for optimal performance.
- Test settings on a demo account before live trading.
FAQ
Can the Fibonacci EA be used on any currency pair?
Yes, it is compatible with major and minor currency pairs. Performance is typically best on major pairs like EUR/USD or GBP/USD.
Does this EA require constant supervision?
The EA operates fully automatically, but periodic monitoring is recommended to ensure it performs as expected and settings remain optimized.
Can I adjust the Fibonacci levels or trading parameters?
Absolutely. You can customize Fibonacci retracement and extension levels, lot sizes, stop-loss, take-profit, and risk percentage.
Which timeframes are recommended?
H1 to H4 are generally preferred for this EA, though it can technically run on other timeframes depending on your strategy.
How does the EA manage losing trades?
The EA uses predefined stop-loss levels and trade management rules based on Fibonacci analysis to limit losses and protect your account.
Summary
The Fibonacci MetaTrader 4 Forex Robot is a sophisticated automated trading solution that leverages Fibonacci retracement and extension levels to identify high-probability trades.
Compatible with multiple currency pairs and timeframes, this EA is suitable for both beginners and experienced traders seeking a systematic, hands-free trading approach.
Regular monitoring and demo testing are recommended to optimize performance and ensure consistent results.
