A Good EA by Paraboliс and Fibo Lines – EA MetaTrader 4
by
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.
Picture:
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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