About the Fibonacci Active Scalper Expert Advisor
The Fibonacci Active Scalper is an automated trading robot designed for MetaTrader 4.
It utilizes a Fibonacci-based trend reversal strategy to identify optimal entry points on the 30-minute (M30) chart.
The EA draws buy and sell signals directly on the chart, making it easy to review its past performance.
A green arrow indicates a buy signal, while a red arrow indicates a sell signal.
This EA can also function as a simple buy and sell indicator and is compatible with any Forex broker.
Take profit targets are based on Fibonacci levels, enhancing the precision of trade exits.
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Key Features
Fibonacci-Based Trend Reversal Strategy
The EA employs a Fibonacci-based strategy to identify trend reversal points, aiming to capitalize on price retracements for optimal entries.
Automated Buy and Sell Signals
Buy and sell signals are automatically generated and displayed on the chart, allowing for easy identification of trade opportunities.
Customizable Input Parameters
The EA offers customizable input parameters, including start and end times, lot sizes, take profit levels, stop loss levels, and trailing stop settings, providing flexibility to suit individual trading preferences.
Compatible with Any Forex Broker
Designed to work with any Forex broker, the EA ensures broad compatibility and ease of use across different platforms.
Visual Trade Signals on Chart
Trade signals are visually represented on the chart, making it easy to review past performance and assess the effectiveness of the strategy.
Trading Results
In backtesting on the USD/CHF 30-minute chart, the Fibonacci Active Scalper EA demonstrated its ability to identify trend reversal points effectively.
The results highlight the EA’s potential for profitability, though actual performance may vary based on market conditions.
Trading Chart
The picture below shows the Fibonacci Active Scalper expert advisor attached to the USD/CHF 30-minute chart.
How the EA Works
- Monitors market conditions using Fibonacci levels to identify potential trend reversal points.
- Automatically generates buy and sell signals based on predefined criteria.
- Displays trade signals directly on the chart for easy identification.
- Utilizes customizable input parameters to tailor the EA’s behavior to individual preferences.
- Operates on the MetaTrader 4 platform, requiring minimal supervision once installed.
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Download the “FiboActiveBot.ex4” expert advisor
Parameters & Settings
- Start Time: Configurable start time for trading operations.
- End Time: Configurable end time for trading operations.
- Lot Size: Adjustable lot size for each trade.
- COS: Configurable parameter for order size adjustment.
- Lot 2x: Adjustable parameter for doubling lot size after a loss.
- Filter: Optional filter to refine trade signals.
- ON Alert: Enable or disable alert notifications.
- Take Profit: Configurable take profit level in pips.
- Stop Loss: Configurable stop loss level in pips.
- Fibonacci Take Profit: Optional take profit level based on Fibonacci levels.
- Trailing Stop Loss: Enable or disable the trailing stop loss feature.
- Trailing Stop Loss Start: Configurable level at which trailing stop loss starts.
- Trailing Stop Loss Level: Configurable level for trailing stop loss adjustment.
Recommended Trading Setup
- Timeframe: 30-minute (M30) chart for optimal performance.
- Currency Pairs: Any major currency pair for broad applicability.
- Minimum Account Balance: $100 to accommodate potential drawdowns.
- Broker: Choose a broker with low spreads and fast execution speeds.
- Demo Account: Test the EA on a demo account before live trading to understand its behavior and performance characteristics.
FAQ
Is the Fibonacci Active Scalper EA compatible with all brokers?
Yes, the EA is designed to work with any MetaTrader 4 broker that allows automated trading. Ensure your broker offers low spreads and fast execution for optimal performance.
What is the recommended minimum account balance?
The recommended minimum account balance is $100. However, a higher balance may provide better risk management and performance.
Can I use the Fibonacci Active Scalper EA on a live account immediately?
It is advisable to test the EA on a demo account first to understand its performance and settings before using it on a live account.
What trading instruments can I use with this EA?
The EA can be used with any major currency pair. Ensure to select instruments that align with the EA’s strategy.
Summary
The Fibonacci Active Scalper EA is a reliable and flexible automated trading tool for MetaTrader 4.
Its Fibonacci-based trend reversal strategy, combined with customizable settings, allows traders to optimize entries and exits across multiple currency pairs and time frames.
This EA provides a straightforward solution for enhancing trading strategies while maintaining control over risk management.
