Price:
$200/one license

The expert advisor needs a reliable power supply and an uninterrupted Internet connection. It is very difficult to provide conditions for the expert advisor at home, and it is safer to use a VPS-server.

Expert advisor TrueFibo

Let’s check out the true Fibo Forex expert advisor. The expert advisor uses Fibonacci levels in its trading. The expert advisor trades on the currency pairs EURUSD, GBPUSD. The recommended timeframe is M15-H1. The minimum deposit for dollar accounts is $1000, and for cent accounts – $10. Leverage is from 1: 500. Read the article below for a more detailed overview of the expert advisor.

Important! The expert advisor needs a reliable power supply and an uninterrupted Internet connection. It is very difficult to provide conditions for the expert advisor at home, and it is safer to use a VPS-server. You can get a free VPS here.

Trading terminal
MetaTrader4
Traded pairs
EURUSD, GBPUSD
Time-frame
М15-H1
Leverage
from 1:500
Recommended Brokers
Recommended deposit
from 100 USD (on a cent account)
Recommended VPS

Trading strategy:
The expert advisor sets a large grid of Fibonacci levels (red bars) on the chart of the currency pair from the minimum to the maximum of candles on the D1 chart — the number of candles is specified in the settings of the TrueFibo.

After that, the expert advisor stretches a small network of Fibonacci levels (blue stripes) between each level (red stripes). As a result we get the following picture on the chart:

As we can see in the picture, the expert advisor sets a double network of Fibonacci levels on the matryoshka principle, some levels inside others.

Conditions for entering the market:

  • when the price crosses the level, the expert advisor opens an order to cancel the level;
  • the EA uses Take Profit and Stop loss levels hidden from the broker;
  • Take Profit is specified in pips and / or as a percentage of the Deposit;
  • Stop loss is common for a series of orders;
  • the working timeframe is M15.

MONEY MANAGEMENT

The expert advisor uses averaging through position locking. In other words, if the expert advisor opened a BUY order, but the price went to SELL and crossed the next level, the TrueFibo expert advisor will open a SELL order with an increased volume. As a result, the trading expert always follows the price on the trend.

Main parameters:

  • FirstLot is the size of the first lot in the expert advisor series.
  • Risk — if FirstLot = 0, then automatic calculation of the first lot is applied — this is a percentage of the free margin.

Calculation formula: FirstLot = Free margin / 100,000 * Risk. For example: FirstLot = 10 000 / 100 000 * 0.1 = 0.01 lot

  • TakeProfit – the parameter Take Profit specifies in pips for the 5th digit.
  • TakeByPercent — if you specify more than 0, the expert advisor will automatically close a series of orders when the specified percentage of growth to the deposit is reached.
  • Factor is multiplier for calculating the next lot in the series.
  • MaxOrders is the maximum number of orders in the series.
  • Steppips is minimum distance between orders.
  • FiboBar is the number of candlesticks for building a large Fibonacci grid on D1.
  • Stoploss is the total Stop Loss for a series of orders is specified as a percentage of the Deposit (if you specify 10, then the Forex trading robot will close all orders with a drawdown of 10%).
  • Magic is the unique number of the trading adviser on the chart. If you trade more than one pair, in MetaTrader 4 you must specify a unique Magic for each chart. This number allows The truefibo Forex expert Advisor not to mix orders from different charts when calculating.

To get a forex
advisor for free

#1

Choose any broker from our list and open a trading account. We recommend InstaForex, Weltrade, RoboForex;

#2

Submit an application for a forex advisor, specifying the account number and name of the broker;

#3

If you already have a trading account, please email us info@govpsfx.com, specifying the account number and name of the broker, and the forex advisor that you want to get.

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