About the Fibot Fibonacci EA Robot
The Fibot Fibonacci EA for Metatrader 4 is a profitable trading robot solely based on Fibonacci levels and, in particular, the popular 38.2% retracement level.
In essence, the robot first identifies the overall trend and then waits for a pullback towards the 38.2% Fibonacci retracement level.
Once it reaches that level, the EA will open a buy or sell trade based on the overall trend.
In terms of profitability, the Fibonacci EA made amazing gains with an acceptable drawdown measured over 2419 trades (see test chart results below).
From the properties input section, you can fully modify this expert advisor.
This trading robot should work with any Forex broker of your preference.
As always, please use the Fibot Fibonacci EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Free Download
Download the “Fibot EA.ex4” expert advisor
Key Features
Automated Fibonacci Analysis
Automatically identifies and trades based on key Fibonacci retracement levels, reducing manual analysis.
Customizable Settings
Offers over 60 adjustable parameters, allowing traders to tailor the EA to their specific trading preferences and risk tolerance.
Multi-Timeframe Support
Compatible with multiple timeframes, including H1, H4, and D1, providing flexibility in trading strategies.
Risk Management Tools
Includes features such as adjustable stop loss, take profit, and lot size to manage risk effectively.
Broker Compatibility
Works with any broker that supports MetaTrader 4, offering versatility in broker selection.
Trading Results
Find below the Fibot Fibonacci EA Forex robot track record when attached to a demo trading account (click on the picture for full-size view).
Key Points
- Total net profit: $2299370.32
- Maximal drawdown: 14.15%
- Total trades: 2419
While specific MyFXBook results are not available, the Fibot Fibonacci EA Robot’s performance can be evaluated through backtesting and demo trading.
It’s recommended to test the EA in a risk-free environment to assess its suitability for your trading strategy.
Trading Chart
The picture below shows the Fibot Fibonacci EA attached to the Euro / U.S. Dollar 1-hour chart.
How the EA Works
- Identifies the prevailing market trend using Fibonacci retracement levels.
- Waits for a pullback to the 38.2% Fibonacci level.
- Executes a trade in the direction of the main trend upon confirmation of the retracement.
- Utilizes adjustable stop loss and take profit levels for risk management.
- Operates on multiple timeframes, including H1, H4, and D1.
Download Now
Download the “Fibot EA.ex4” EA
Parameters & Settings
- Magic Number: Unique identifier for EA instances.
- Lot Size: Adjustable to suit individual trading preferences.
- Stop Loss: Set in pips to limit potential losses.
- Take Profit: Define in pips to secure profits at desired levels.
- Risk: Adjust risk level according to account balance and risk tolerance.
- Open Time: Specify the time window for trade execution.
- Pips Step: Define the step size for trade entries.
Recommended Trading Setup
- Currency Pairs: EUR/USD, GBP/USD, USD/JPY (optimized), adaptable to others.
- Timeframe: H1 and H4 charts for optimal performance.
- Account Balance: Minimum of $250 to accommodate trade sizes.
- Broker: Preferably with low spreads and fast execution.
- VPS: Recommended for uninterrupted trading operations.
FAQ
Is the Fibot Fibonacci EA compatible with all brokers?
Yes, as long as the broker supports MetaTrader 4 and allows automated trading.
Can I use the Fibot Fibonacci EA on other timeframes?
While optimized for H1, H4, and D1 timeframes, it can be tested on other timeframes for suitability.
What is the recommended minimum account balance?
A minimum balance of $250 is recommended to ensure proper trade execution.
Does the Fibot Fibonacci EA require constant monitoring?
Once set up, the EA operates autonomously, but periodic monitoring is advised.
Summary
The Fibot Fibonacci EA Robot for MetaTrader 4 is a robust and reliable automated trading solution.
With its proven Fibonacci-based strategy, customizable settings, and user-friendly features, it offers traders an effective tool for navigating the forex market.
Download the Fibot Fibonacci EA today and enhance your trading experience with automated precision.
