fibonacci lines

Related: Trade from Lines (e-tfl) - Advanced Line Trading Expert Advisor - another powerful expert for MetaTrader 4 traders.

Also recommended: multi-trendlines breakout - similar expert with strong performance on MetaTrader 4.

"fibo" ea draws fibonacci lines on chart and trades with price breakthrough,has trailing stop loss &take profit works with all time frames major forex pairs and stocks nasdaq.

try it on demo first.

this ea trades only with the price of open candle!

if you do not want to trade with increasing lot size when you lose a trade set:"increasefactor=0"

i combined together a simple ea with two moving averages and fibonacci lines,

the fibonacci lines do not work on test mode,

the optimization tests can be performed only with moving averages,

in live trading only, fibonacci lines and moving averages will work together,

during tests, the ea only draws the fibonacci lines on the screen in visual mode without considering them in the creation of trades,

you need to perform back test with "open prices only" option,

the fibonacci lines will function as a filter .

in this situation the probability of winning trades increases. inputs

use_tp_in_money- use take profit in money (values:true/false).

tp_in_money- take profit in money (values: 10-100).

use_tp_in_percent- use take profit in percent (values:true/false).

tp_in_percent- take profit in percent (values: 10-100).

------------[money trailing stop for multiple trades]----------------------

enable_trailing-enable_trailing with money (values:true/false).

take profit in money (in current currency) (values: 25-300).

stop loss in money(in current currency) (values: 1-20).

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exit= close trades if the trend is against you and control draw dwon (values:true/false).

lots - lots size (values: 0.01-1).

lots size exponent (values: 1.01-2).

increasefactor -how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).

stop_loss - stop loss (values: 30-500). /set value 600 for multiple trades

magicnumber - magic number (values: 1-100000).

takeprofit - take profit (values: 50-200). /set value 600 for multiple trades

fastma - fast moving average (values: 1-20).

slowma - slow moving average (values: 50-200).

mom_sell-momentum_sell trigger(values: 0.1-0.9).

mom_buy-momentum_buy trigger(values: 0.1-0.9).

---------------------control draw down-----------------------------

useequitystop - (values: true /false ).

totalequityrisk- (values: 0.01-30).

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max_trades(1-12).

fractalnum= number of high and low(values: 1-10).

--------------------------if you use only 1 trade:-------------------

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usetrailingstop-if use trailing stop (values:true/false).

whentotrail-when to trail (values: 40-100).

trailamount-trail amount (values: 40-100).

distance from candle -distance from candle (values: 1-100).

usemovetobreakeven-enable " break even " (values: true/false).

whentomovetobe-when to move break even (values: 1-30).

pipstomovesl=30-how much pips to move stop loss (values: 1-30).

-you should optimize this ea every few months and use the exact same inputs from above .-you can use it as hedging grid ea or a single trade ea.-how to perform back test:

You may also like: the expert advisor based on 2 lines of the moving average - excellent alternative for expert users on MetaTrader 4.

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• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.