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This article will set out a trading idea based on Fibonacci levels. Full original description you can find in my previous article.

Under the name "Meteostation" was written expert, according to the system described below, for the Metatrader4 platform.
The strategy was tested only on history, and never once passed the test on demo / real accounts.

Expert Advisor Meteostation:

Contains customizable parameters:

1. Time zone. This is the time for which the market analysis will be conducted.
2. Time to exit. The time stamp, after which the adviser will not open positions.
3. Fibonacci price tags. Horizontal price lines, which will open and close the position.
4. The amount of the transaction.
5. Take Profit.
6. Stop Loss.
7. The colors of the lines.

The idea of ​​applying Fibonacci levels in a robot is critically different from classical sources. In the construction of an adviser there are no reversal purposes, besides the construction is done at price points, ignoring the waves. Each line shows either opening a trade, either Stop Loss or Take Profit. In the end, I can say that the advisor is working on breaking the lines.

Let's consider the principle of working in Online mode:
1. Advisor is running, trading is allowed
2. The EA is in line waiting mode. This is the phase of waiting for the first time line.
3. Offensive of the first time-line. The advisor draws a vertical line.
4. Passes the interval specified in the settings. The adviser exposes the second line.
5. The resulting range is analyzed. The maximum and minimum prices in the interval are calculated.
6. At the points of maximum and minimum, the Fibonacci line is drawn up and down.
7. All lines are fixed.
8. There comes the phase of waiting for the opening of the transaction.

Then there are 2 possible scenarios:
1. Passes the time range for which you are allowed to open a trade. And the position does not open. The phase of waiting for a new cycle begins. (The next day)
2. The price crosses the first Fibonacci level. If the lower level intersects the SELL position. Take Profit = price 3 levels Fibonacci bottom. Stop Loss = price 0 Fibonacci level from the top (Price line at the maximum point in the range). If the upper level intersects the BUY position. Take Profit = price 3 levels of Fibonacci on top. Stop Loss = price 0 Fibonacci below (Price line at the minimum point in the range).
Then comes the phase of waiting for the closing of the transaction on the warrant. New items are not opened.

According to historical tests, with parameters tuned in the experimental way, the expert shows interesting results.
If this idea interests you and inspires you to write a code for VJF, I will be grateful to receive it, and I will offer some additional ideas that may become a filter for losing positions.

kuzmichov1
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