Fibochannel line - expert for MetaTrader 4




Fibochannel line - expert for MetaTrader 4


"Fibochannel line" EA draws Fibonacci channel lines on chart and trades its trend,has Trailing Stop Loss &Take Profit works with all time frames major forex pairs and stocks NASDAQ.

USEMOVETOBREAKEVEN  system functions like a stop loss

But a one-time function with a smaller value than the subsequent Stop Loss value to lock minimal profit and avoid loss if the price goes against you.

If you have reached a certain value of pips with the direction of the trade -

  • WHENTOMOVETOBE - When to move break even (values: 10-100).

So how many pips would you like to move the stop loss above the price line of the open trade-

  • PIPSTOMOVESL - How much pips to move stop loss (values: 10-100).

This EA trades only with the price of open candle!

Trade volume of a position depends on previous trading results.

It provides the possibility to limit the maximum risk (in % of deposit) of the trade.

If you want to trade with constant lotsize say:0.01 lot ,you need to set "MaximumRisk =0" and "DecreaseFactor=0"

Or else you will have a calculation of  Percent (%) of deposit and MaximumRisk.

I combined together a simple EA with two moving averages and Fibonacci channel lines,

The Fibonacci channel lines do not work on test mode,

The optimization tests can be performed only with moving averages,

In live trading only, Fibonacci channel lines and moving averages will work together,

During tests, the EA  only draws the Fibonacci channel 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 channel lines will function as a filter .

In this situation the probability of winning trades increases.

Inputs

  • Fibochannel line length (bars)(values: 10-100).
  • Fibochannel line color.
  • USEMOVETOBREAKEVEN - Enable "no loss" break even system (values: 0-1).
  • WHENTOMOVETOBE - When to move break even (values: 10-100).
  • PIPSTOMOVESL - How much pips to move stop loss (values: 10-100).
  • Lots - Lots size (values: 0.01-10).
  • MaximumRisk - maximum risk from total margin in %, (values: 0.01 - 0.3).
  • If "MaximumRisk =0" then "Lot=constant"
  • DecreaseFactor - decrease from total margin if you lose a trade.
  • TrailingStop-set a value from 10 to 100 to activate trailing stop loss & take profit, "0" will not activate trailing stop loss.
  • Stop_Loss - Stop Loss (values: 10-100).
  • MagicNumber - Magic number (values: 1-100000).
  • TakeProfit - Take Profit (values: 10-100).
  • FastMA - Fast Moving Average (values: 1-20).
  • SlowMA - Slow Moving Average (values: 50-200).
  •  Mom_Sell-Momentum_Sell trtrigger(values: 0.1-5).
  •  Mom_Buy-Momentum_Buy trtrigger(values: 0.1-5).

How to perform back test:https://bit.ly/2CD7XWD


Fibochannel line


Download Fibochannel line - expert for MetaTrader 4




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