A Good EA by Paraboliс and Fibo Lines - expert for MetaTrader 4
EA Author:
Juriy. ForTrader.ru
Buy
When the price breaks through the parabolic 0.02 & 0.2 we draw the Fibo lines between the closest minimum (before the break through of parabolic) and the maximum of the bar the break through occured at. In such a manner we obtain the level of the target at 161.8% and the level of entry at 50%. The Stop is placed at 2 pips below the last significant minimum.
Sell
When the price breaks through the parabolic 0.02 & 0.2 downwards we draw the Fibo lines between the closest significant maximum (before the break through of parabolic) and the minimum of the bar the break through occured at. In such a manner, we obtain the level of the target at 161.8% and the level of entry at 50%. The Stop is placed at 2 pips above the last significant maximum.
Advices:
- The EA is intended to work at M15 EURUSD chart.
- Some functions that are used in the EA are described in my blog programmin in MQL4.
- The more detailed description of the strategy can be found on the forum and the investigation of the strategy can be read in the 38-th issue of the journal.
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