Fibo Arc
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Fibo Arc
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
"FiboArc" EA draws Fibonacci Arcs 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 Arcs,
The Fibonacci Arcs 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 Arcs on the screen in visual mode without considering them in the creation of trades,
The Fibonacci Arcs 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: 25-200).
Stop Loss In Money(in current currency) (values: 1-20)
Fibonacci Arcs length (bars)(values: 10-100).
Fibonacci Arcs color.
Fibonacci Arcs ancor candle number (last bar is number 0)(values: 0-10).
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).
TotalEquityRisk- (values: 0.01-20)
Max_Trades(1-5).
IF YOU USE ONLY 1 TRADE
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).
USECANDELTRAIL=If use candle trailing stop (values:true/false).
X=2-number of candles (values: 1-100).
Enable "Break Even" -(values:true/false).
When move "Break Even"- (values: 5-30).
How much pips move- "Break Even" (values:5-30).
Please note
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:
