WithAutoFibo EA
Utilises advanced indicators to maintain price structure within a narrow channel effectively
AutoFibo EA has identified a trade at the 127% Fibonacci Retracement level and executed a reversal trade to capitalize on the move back down to the 102% level.
Occurred during Fibonacci confluence (where more than one type of Fibonacci lines up). We can see that the 61.8% Fibonacci retracement lines up nicely with the 78.6% Fibonacci Expansion within a tolerance range of 5%. We then enter a trade with our take-profit set back up at the 38.2% Fibonacci retracement.
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FibonacciRetracement = True
FibonacciProjection = False
FibonacciConfluence = True
EntryRetFibonacci = 126
StopLossRetFibonacci = 133
TakeProfitRetFibonacci = 105
EntryFibRetracement = 61
EntryFibProjection = 61,78,100
FibRetracementTolerance = 4
StopLossFibRetracement = 70
TakeProfitFibRetracement = 50
UseFixedLot: False
FixedLot: 0.1
RiskPercentage: 0.5
Disclaimer: This EA trading tool provides assistance in trading. Users should be aware of the inherent risks in trading and are encouraged to use this tool with a comprehensive risk management strategy.