FreelanceSections

Fibonacci + ZigZag Expert Advisor

MQL4 Experts

Job finished

Execution time 1 day
Feedback from customer
Great delivery in a short period of time. Will work with Hector again.
Feedback from employee
Excellent customer. Thank you very much for your Job.

Specification

Hello everyone, I need an expert advisor to trade based ZigZag + Fibonacci levels.

 

Inputs

Lot size: Editable figures (eg 0.1)

Entry: Fibonacci level (editable) eg: 23.6% (Entry is always limit order)

Target: Fibonacci level (editable) eg: 0.0%

Stop: Fibonacci level (editable) eg: 38.2%

ZigZag indicator parameters (editable) - (eg: ExtDepth, ExtDeviation, ExtBackstep)

 

Strategy:

Zigzag indicator is drawn follows by the Fibonacci retracement indicator. The Fibonacci follows the Zigzag line until the direction changes. EA place a limit order at entry level (eg 50.0%) followed by the stop and target (eg TP 23.0% - SL 61.8%). Orders are constantly modified if ZigZag line moves to new highs or lows. If ZigZag is uptrend the order is Buy limit and if Zigzag is downtrend the order is sell limit.

Notes: Once an order is placed EA does not cancel any orders until they are filled, however EA carries on placing new orders based on new entries.

PS: In the image attached I explained the strategy for one trade on which is a buy limit for the A-B leg. According to this image EA should carry on placing these orders:

Sell limit for B-C leg and Buy limit for C-D leg and Sell limit for D-E leg.

Let me know if you have any questions?

Looking forward to hear from you.

Files:

JPG
Strategy.JPG
214.8 Kb

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