Introduction
Meet Automatic Fibonacci with Alerts – the trading robot that attempts to make your trading life a bit easier. Does it work? We'll see. For those who have no patience, the robot's detailed statistics are available at this link.Before we dive into the nitty-gritty details, let’s set the stage: No reviews, no ratings formed. Inviting readers to leave their reviews could be the most exciting part of this robot. Now, let’s get to the meat and potatoes.
Installation and Setup
Installing the Automatic Fibonacci with Alerts robot is as straightforward as it can be. If you’ve ever used an MQL5 trading robot, you’ll fit right in.- Download the EA file from the source.
- Move the file to the Experts folder in your MQL5 directory.
- Open MetaTrader 5 and refresh the Navigator pane. Your new robot should appear under Experts.
- Drag and drop it onto your desired chart.
- Adjust settings in the Expert Properties window to suit your trading style.
- Ensure the Allow live trading box is checked.
- Click OK and let the robot do its thing.
Expert Tip: Take your time to understand each setting. The default parameters might not always align with your trading strategy.
Experience Using the Robot
My experience with Automatic Fibonacci with Alerts hasn't been groundbreaking. It follows Fibonacci retracement levels for entry and exit signals, as advertised. The alerts? Handy, but nothing you couldn’t do manually if you had the time and patience.For those who like statistics, the robot's performance metrics can be found at this site. Whether you’ll be satisfied with the results depends on your expectations. If your bar is set high, as mine often is, keep your optimism in check.
Tips for Improving Performance
All trading robots require fine-tuning, and Automatic Fibonacci with Alerts is no exception. Here are some pointers:- Backtest extensively - Use historical data to gauge how the robot performs over varying market conditions.
- Optimize parameters - Tweak settings such as timeframes, fib levels, and alert triggers.
- Monitor performance - Keep an eye on the robot's activities and intervene if things go south.
- Risk management - Never forget to set stop-loss and take-profit levels. Basic, but crucial.
By following these tips, you may find the robot performing a bit closer to your lofty expectations.
Source Code of Automatic Fibonacci with Alerts
We don't have the original source code for the Automatic Fibonacci with Alerts robot as sold on MQL5. However, based on the description provided on the MQL5 platform, we can create a code that mimics its functionality.If you have any questions about the code, feel free to ask. Remember, this is a sample code from easytradingforum.com based on the description of the original robot. The EASY Trading Team does not sell Automatic Fibonacci with Alerts; we simply created a robot based on its advertised features.
Code:
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