The Fibot Fibonacci EA for Metatrader 4 is a profitable trading robot solely based on Fibonacci levels and in particular the popular 38.2% retracement level.
In essence, the robot first identifies the overall trend and then waits for a pullback towards the 38.2% Fibonacci retracement level.
Once it reaches that level, the EA will open a buy or sell trade based on the overall trend.
In terms of profitability, the Fibonacci EA made amazing gains with an acceptable drawdown measured over 2419 trades (see test chart results below).
From the properties inputs section, you can fully modify this expert advisor.
This trading robot should work with any Forex broker of your preference.
As always, please use the Fibot Fibonacci EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Find below the Fibot Fibonacci EA Forex robot track record when attached to a demo trading account (click on the picture for full size view).
- Total net profit: $2299370.32
- Maximal drawdown: 14.15%
- Total trades: 2419
The picture below shows the Fibot Fibonacci EA attached to Euro / U.S. Dollar 1-hour chart.
Recommendations & Specifications
- Works on any currency pair and Gold
- Works best on the higher time frames (H1, H4, D1)
- Minimum account balance: $250
- Demo account: Yes
- Real account: Yes
- Trading platform: Metatrader 4
Input Parameters & Settings
The following input parameter values can be modified by accessing the EA’s “Inputs” tab:
Magic number, stop loss, take profit, background colors
Download This Expert Advisor
How to install and run the Fibot Fibonacci EA Robot?
- Open the Metatrader 4 platform
- From the top menu, click on “File”
- Now click on “Open Data Folder”
- Open the “MQL4” folder
- Open the “Experts” folder
- Copy the Fibot EA.ex4 file here
- Then close and restart the MT4 platform
- Attach the expert advisor to the chart
Now, you are ready to start using the Fibot Fibonacci EA!