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The Expert Advisor uses a trading strategy based on Fibonacci levels.
On the levels of ~38.2,~50.0 and ~61.8, it sets virtual pending orders (Buy Limit, Sell Limit).
A grid of virtual pending orders is built in trend direction. Trend is determined using the ZigZag indicator.
Orders are closed at a total virtual take profit or a total virtual stop loss.
The EA makes a decision at the opening of a new candlestick, so optimization can be performed using open prices.
Settings and Input Parameters
Risk:
- Risk – risk (<0.01 – low, >0.01 – high);
Levels to place pending orders:
- Level1 (0 – don’t set) – ~38.2%, 0 – do not place a pending order
- Level2 (0 – don’t set) – ~50.0%, 0 – do not place a pending order
- Level3 (0 – don’t set) – ~61.8%, 0 – do not place a pending order
- Level3 (0 – don’t set) – 0 – do not place a pending order
- Level for Stop-loss – total stop loss for all orders (~100.0%)
- Take Profit(points) – total take profit for all orders
- K_Lot lot multiplier
- Magic number of the expert – EA’s magic number
- Trade mode – true – trading is enabled
- Don’t trade! if the account has a different magic position – true
- Slippage – allowed slippage
Filters:
Determining the global trend using ZigZag:
- Timeframe for the global trend – timeframe for the indicator
Wave settings:
- Min Wavelength – minimum wave length (in points)
