Fibonacci EA

Simple EA needed to take orders based on Fibonacci levels. The EA reads the buffers of a currency meter indicator and then enters trades based on set fib levels.

The currency meter shows currency directions of 26 pairs for M1, M5, M15, M30, H1, H4 and D1.

Trade conditions:

When the lowest timeframe of the selected timeframes under consideration changes to match the direction of the higher timeframes (confirmation signal), then draw fib by

a. Scanning the last 72 hrs for the highest and lowest points b. Drawing fib retracement between the highest and the lowest points

Note: The confirmation signal must come after the close of the candle because the indicator repaints on the current candle.

Input options:

Time frames to consider would be selectable

Time frame to check for changes in order to match other selected timeframes would be selectable

Limit orders to be placed at selectable fib level for buy and sell orders

TP to be placed at selectable fib level

SL to be placed at selectable fib level