Introducing: The Ultimate Fibonacci EA!
Harness the Power of Fibonacci retracements and Advanced Pattern Recognition
What is it?
Ride the waves of the Forex market with unparalleled precision using the Ultimate Fibonacci EA. This state-of-the-art MT4 based Expert Advisor (EA) not only recognizes significant market patterns and swings but also integrates seamlessly with your Fibonacci retracement tool. Just plot your Fibonacci tool on the chart, and let the EA handle the rest!
Let pattern recognition notify you when potential trend reversals have occured, so you can draw your fibs and jump in at the start of the new trends.
Key Features:
Fibonacci Retracement tool Integration:
- Dynamic Adaptation: Draw, redraw, or move your Fibonacci retracement tool on the chart. The EA adapts instantly.
- Trade Execution: The EA can automatically open trades based on Fibonacci levels.
- Intelligent LotSizing for StopLoss placement: When you draw your fibonacci retracement tool, the EA will automatically determine if it is for a buy or sell setup. It will then display the LotSize you should use to keep within your predetermined RiskPerTrade level, based on stoploss placement at the first Fibonacci swing point.
- Automated Alerts: Set zones and get notified when the price enters these key levels.
Automated Trade Entries:
- Instant Fib-Touch Entry: If you want the EA to open a trade instantly when your fibzone is touched, you would turn on the "FibTouchedEntryON" to true, in the EA. It will also, automatically place your stoploss at you your first swing point.
- Fib-Zone Macd Entry: Another option for when you are targeting a large scale swing, is to set your MACDEntriesON to "true" on the EA. The EA will "set a flag within its program, when a candle closes within your Fib Zone and will wait until the MACD MAIN line crosses the MACD SIGNAL line in the direction of your trend. (Note: Just remember that this method requires a candle close within the zone and not just a "Price touch" to avoid premature signals.)
- New Swing Entry: And last, but not least, your Ultimate Fibonacci EA comes complete with an entry based on "Mini Trend Shifts". For example, with a Buy setup, the EA will set a flag when the Fib Zone has been triggered and then will wait until a New "mini" Swing high has been made, signalling a shift in that direction. Stoploss wil also be placed at the retracement tools first swing point.(Note: This method also requires a candle close within the zone and not just a "Price touch" to avoid premature signals.)
Pattern Recognition:
That's right, the EA comes equipped with a fine tuned pattern recognition algorithm. Take a break from the charts and let the EA scan for reversal patterns for you!
- Double Top & Double Bottom: With "SwingNotify" turned on in your EA, you will receive notifications to your phone or just stars on the chart, if desired, when this famous reversal pattern occurs. You also have the freedom to choose what timeframe this function operates on at all times.
- Head and Shoulders & Inverse Head and Shoulders:
Just like with the Double Top and Double Bottom, we have also included the famous Head and Shoulders pattern for our algorithms pattern recognition, designed to save you time and money, on the charts!
*NOTE* PATTERN RECOGNITION REQUIRES THAT YOU HAVE THE ZigZag INDICATOR INSTALLED & SAVED AS ZigZag.
You may already have this indicator installed in your MT4 terminal. Just check your indicators folder for its presence.
You can download this indicator HERE, if needed.(You do not need to place the indicator on your chart, the EA will use it automatically when saved with your other indicators.)
Just download the .mq4 file. When you open it, it should automatically open in your MetaEditor. Next, press compile or 'F7' on your keyboard and it should be available for use. You may have to restart your MT4 terminal if it doesn't immediately show up as an available indicator in your MT4 terminal.
Dynamic Swing High/Low Notifications:
Adapt to market volatility with our EA's sophisticated algorithm that identifies and notifies you of new swing highs and lows. It constantly analyzes price action, giving you the upper hand as trends shift.
These Swing High/Low signals, along with the Head and Shoulders, Inverse Head and Shoulders, Double Top and Double Bottom signals, are all cored around the ZigZag indicator.
You can change the ZigZag settings that are used AND the timeframe which it produces its signals on, or simply keep the default values.
Real-time Notifications:
Get alerts straight to your cellphone:
Never miss a critical trading opportunity again. Our EA delivers immediate notifications directly to your mobile device, ensuring you're always in the loop, no matter where you are.
If you've enabled the SendNotifications feature, ensure your MT4 platform is set up to receive notifications. Here's how:
- Open MT4 and go to Tools > Options.
- Switch to the "Notifications" tab.
- Ensure "Enable Push Notifications" is checked.
- Enter your MetaQuotes ID. This can be found in the settings of your MT4 mobile application.
- Click "Test" to ensure you receive notifications.
Enhanced Visual Indicators for Clear Guidance::
Navigate the markets effortlessly with intuitive arrows that highlight key Fibonacci zones upon being reached. These visual cues provide a clear indication of market entry or exit points, simplifying your trading decisions.
Automated Profit Management:
With the 'InProfitTP' setting, you no longer need to guess the perfect moment to take profits. Specify your desired profit threshold as a percentage, and let the EA close the trade when it hits. For instance, if you set a 2% risk per trade and desire a closure at a 6% gain, input 0.06 as your 'InProfitTP' value.
Maximize your gains with our sophisticated trailing stop loss feature, guided by the Parabolic SAR indicator. It automatically adjusts to keep your profits safe as the market moves.
You also have the ability to adjust the Parabolic SAR "Step" setting, to make for a tighter or looser Trailing Stop.
The EA's break-even functionality adds another layer of security, locking in profits to safeguard your investment from market reversals. Once your profits have reached your chosen trigger, the EA will automatically place your stoploss at BreakEven until the trade closes or one of your other triggers kick in.
Adjust 'InProfitTP', 'TrailStopTrigger', or 'BreakEvenTrigger' to your preferred profit level, and the EA manages the nuances of order closure and risk management seamlessly for you.
Each of these features can be easily turned ON/OFF in the EA settings.
Customizable Hours of Operations for Text Notifications:
Tailor your trading strategy to perfection by setting specific hours for the EA to send signals. This customization ensures that your automated trading aligns with market sessions and volatility periods that best suit your strategy, giving you the control to engage the market on your terms.
Advanced HUD (Heads Up Display):
A Fusion of Convenience and Strategy
1. Dual Timeframe Trend Monitoring
Stay ahead with real-time trend analysis without the hassle of switching charts. Our HUD keeps you informed of the 2 major trends of your choosing.
2. Tailored Trading Control
Empower your trading strategy with customizable options. Whether you prefer engaging in auto-trade entries, utilizing trailing stops, or setting breakeven triggers, our HUD keeps you updated on the active functionalities.
3. Intelligent Lot Sizing
Confidently enter trades with lot sizes calculated based on your predefined risk level. Our smart lot-sizing feature provides you with the optimal lot size for both buy and sell orders.
4. Financial Goal Tracking
Keep your trading objectives in clear view. Our HUD displays your risk amount per trade in dollars, your targeted account balance, and the estimated number of trades needed to reach your goal.
5. Fibonacci-Inspired Lot Sizing
Elevate your technical analysis with lot sizes calculated using the Fibonacci retracement tool. This innovative feature determines the ideal lot size while placing your stop loss at the initial swing point of the Fibonacci sequence.
Benefits:
- Effortless Integration: Combines manual plotting with automated techniques.
- Accuracy: Meticulous algorithm for precise pattern recognition.
- User-Friendly: Designed for both novices and seasoned traders.
- Adaptability: Swift recalibration to any changes you make.
- Risk Management: Features like trailing stop loss safeguard your capital.
- Time Saver: Set parameters and let the EA handle the rest.
- Stay Informed: With instant notifications, always be one step ahead.
Practice your fibonacci trading in the strategy tester in visual mode:
Yes , that's correct! You can actually test the EA using the visual mode of the strategy tester.
Draw your fibs and let the trader place and close trades. Redraw or move the fibonacci retracement tool to make more trades.
It's a great way to practice using the EA in a faster than normal speed.
***To improve the speed of the visual strategy tester, be sure to turn off the HUD, as it slows down the speed of the tester.***
Please note: Forex trading carries risks. Trading decisions based on this information are at your discretion.
Get Started Now!
Embrace the future of Fibonacci trading.
***NOTE: Be sure to turn "AutoTradeForTesterON" to "false", as it is only used for the MQL5 Market tester for EA validation. ***
HOW TO USE THIS EAS PROPERTIES:
- AutoTradeForTesterON - This is true by default, only so that MQL5 tester can ensure the EA works properly. Please turn it to false before use to avoid unwanted trades opening.
- TargetBalance - Set your goal balance here.
- ProfitPerTrade - Input your expected profit per trade here. For example if you are risking 3% per trade and hope to make 6% on each winning trade, input .06 here.
- AutoLotsON - For any automatic trade openings such as the FibTouchEntries, MACDEntries OR SwingEntries, turn this on if you want the EA to calculate the appropriate lotsize for your trade entry, based on your "RiskPerTrade" percentage.
- RiskPerTrade - Determine how much you want to risk per trade in percentages and input it here as a decimal. This will be used for calculations in the HUD(HeadsUpDisplay) and in the automatic trade Entries.
- Custom Lots - If AutoLotON is set to "false" then this value will be used for the lot size of your trade entries.
- Fibo1st - This is where you want your EA to trigger that your desired fib level has been reached, when you have your fibonacci retracement tool on the chart. If trade Entries are set to "true" then a trade will open soon after, as long as the price is above the Fibo2nd. You will also receive notifications based on this fib level.
- Fibo2nd - Using Fibo1st and Fibo2nd, the EA will alert you once price has entered this zone. The EA will also make sure that price is above(for a buy) or below(for a sell) this level in order for an entry or entry signal to be sent. If the price is beyond this zone the trade will no be triggered. This protects you from when the price does not respond to the fibonacci zones.
- FibsON should always be set to true if you want the EA to respond to your fibonacci retracement tool and its levels. If it is off no trade entries or signals for entries will be sent.
- SendTextNotifications - If you want to receive text notifications for everything, have this turned to "true".
- DrawArrows - Set this to "true" for the EA to draw arrows on the chart when any signal occurs so that you can refer to it visually.
- FibTouchEntryON - If this is set to "true" you will receive notifications when the Fibzone is touched. If TradingEnabled is set to "true" a trade will open when the fibsone is touched.
- SwingEntriesON - If this is on the EA will open trades after the price has enter the fibzone and a candle has closed within it. It will then wait for a new swing high to be made based on the settings of the ZigZag indicator and the SwingEntry settings.
- MACDEntriesON - If this is set to "true" the EA will open a trade after the price has entered the fibzone and a candle has closed within it and the macd main line has crossed the signal line in the direction of your fib retracement tool.
- TradingEnabled - Without this set to "true" NO trades will open. You will simply get a text notification and an arrow on chart if they are set to do so.
- HudON - If this is set to "true" the heads up display will be ON and displayed on the right hand side of your screen, supplying you with important information.
- HUD Display fonts and color - Change the font size or color of the HUD.
- TrendTimeFrame1 and 2 - The HUD will keep you updated on the major trend of 2 major timeframes of your choosing.
- InProfitExits - If you want the EA to close a trade when it is in profit a certain percentage relative to your account balance, set this to "true".
- TrailingStopSar - If you want the EA to trigger a trailing stop loss(based on the parabolic sar indicator), after a certain profit percentage threshold has been reached, set this to "true".
- BreakEvenTrigger - If you want the EA to bring your stoploss to break even automatically, after a certain level of profit has been reached, set this to "true".
- SwingNotify - Set this to true if you want to receive notifications when reversal patterns of swing high/low, head and shoulders or double top/bottom occur.
- Drawstars - When the reversal patterns happen, the EA will draw stars on the chart when they occur, if you have this set to "true".
- SwingNotify Functions - The ZigZag indicator is set by default to Depth : 12, Deviation: 5 and Backstep: 3. If you prefer to change these values you can. These values will effect the reversal pattern recognition, so it is advised to leave these as the default unless you are familiar with the indicator.
- ZigZagTimeFrame - You can choose what timeframe you want to receive your reversal pattern notifications from. If you choose current the EA will scan the current chart timeframe for reversal patterns.
- SwingEntry Functions - These ZigZag settings are for the SwingEntries only. We find it best to have the tightest and fastest entrie possible, which is why we use the smallest possible zigzag settings. We recommend this as the default, but it is up to the user. The Timeframe setting here is also the timeframe used for entries and trailing stops.
- ParSarStep - This is for the TrailingStopSar function. The default is .02 but feel free to view the indicator on a chart to see what differences you can get by changing the Step value. You can tighten or loosen your trailing stops with this number.
- SpreadMult - This is used for your stoploss +/- spread X SpreadMult. This means that every automatic trade opened or trailing stop that is active, the stoploss will include extra space for the spread. So if this is set to 2, then when the stoploss is placed is will pad the stoploss with the spread multiplied by 2. This helps give your stoploss a little more breathing room.
- TrailBars - TrailBars is used for the HUDs "LotSizeForBuy/Sell" display. It is the number of bars back you want the EA to look to determine the lotsize you should use under the assumption that your stoploss will be placed at the high or low of those last "trailbars". The default value is 15. For example, the EA will check for the low of the last 15 bars. It will then calculate what lotsize(Based on your RiskPerTrade) that would be appropriate for you , if you were to open a buy trade with your stoploss placed at that previous low of the last 15 bars.
- Set EA Signals Hours of Operation - Choose when the EA sends text notifications or trades. This will not effect trade entries, trailing stops, Breakeven or InProfit Exits. This is meant so the user can go to sleep without worrying about several signals going off at night or during important hours of the day.
- Set Arrow Colors - Choose from any of the colors listed for your chart arrow colors for trade entry signals.