The Fibonacci lines Metatrader 4 Forex Robot is an algorithmic trader that draws Fibonacci lines on the activity chart while using its price breakout characteristics to determine buy and sell market signals.
The Fibonacci lines forex robot goes a step further to adopt the Fibo lines and moving averages within its lines of codes.
This combo increases the probability of winning trades.
More so, the EA functions as a filter, offering traders the possibility to limit the maximum risk for each trade (as defined by the “MaximumRisk” value within the EAs inputs variable).
Strategy Tester Report
Find below the Fibonacci lines robot strategy tester report for the EUR/USD forex pair on the Daily chart.
The EA made a total profit of $27636.37 from a total of 134 trades. The largest winning trade generated $3125.87 in profits while the largest losing trade generated a loss of-$3046.67.
Bars in test: 2587 ticks modelled
Initial deposit: $10000.00
Total net profit: $27636.37
Total trades: 134
Largest profit trade: $3125.87
Largest loss trade: -$3046.67
Consecutive wins: 8
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: FIBO color, Enable “no loss”, When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Fibonacci | MA
Copy and paste the Fibo.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)