An expert advisor based on fibonacci retracements

·         Follow the 30 min timeframe and use the fib. retracement tool to analyze a established trend.

·         In an uptrend each retracement with a bar closing below the 38.20% level or lower will become a support Price.

·          In a downtrend each retracement with a bar closing above the 38.20% level or higher will become a resistance Price.

·         Each support or resistance Price should be considered an indicator.

·         When a bar close below the support Price a sell market order should be placed immediately. 

·         When a bar close above the resistance Price a buy market order should be placed immediately. 

·         Once the order is placed the SL should be set at 30 pips from the price entry.

·         20% of the order should be cashed out after 20 pips in profit and a trailing stop of 15 pips applied at the same time.

·         Once 30 pips in profit SL loss should be placed brake even at entry Price and other 20% cashed out.

·         Then in increments of 20 pips 20% should be cashed out each time until 100% and the trade is completed if possible.