INTRODUCTION
Our computing space is graced today with Fibo Candle Previous. A trading robot, with a dearth of reviews, no rating, and a discernible lack of fanfare. Quite an interesting situation, I must say. A tease, for my thrill in unraveling the mysteries of these algorithmic contraptions. Let's delve in, shall we?FUNCTIONAL OVERVIEW
This trading robot operates based on Fibonacci levels applied to the previous candle. In essence, Fibo Candle Previous performs trading actions based on a calculated range of the previous candle, the Fibonacci levels of the said candle, and and some pre-set criteria. The aim is to generate profits from the price fluctuations within these Fibonacci levels.ANALYSIS OF RESULTS
Hmm, the performance analysis of Fibo Candle Previous is a bit of a challenge. We have no reviews, no ratings, and the MQL5 page does not provide much information. However, our friends over at forexroboteasy.com offer a sneak peek into its performance, which presents a not too shabby result. But then again, a single year's performance is hardly a basis for a definitive conclusion. We need to, shall we say, season the findings with a healthy dose of skepticism.PROS AND CONS
Trading based on Fibonacci levels, a time-tested method, is a point in favor of Fibo Candle Previous. The method harnesses the market's natural tendency to retrace before continuing a prevailing trend. This could potentially lead to profitable trades. However, the strategy's reliance on a single indicator can also be a drawback. The fact that there's no user feedback or rating adds an element of uncertainty in the mix.SOURCE CODE OF FIBO CANDLE PREVIOUS
Oh, the source code! Well, we can't vouch for the originality of the code since Fibo Candle Previous is a commercial product on MQL5. But based on the description on MQL5, we can create a similar one. Of course, any questions on the code can be directed our way. Just remember, this is a code from easytradingforum.com, developed from the MQL5 product description.
Code:
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Fancy taking Fibo Candle Previous for a spin? You can download it directly from the MQL5 marketplace. Just a heads up, we, the EASY Trading Team, are not involved in selling this trading robot. We only offer an open-source code based on its description. So if you want the real deal, head over to MQL5.Do share your experiences on our forum. The more input, the better we can understand this enigmatic trading robot.
Our humble offering of an open-source code is available at easytradingforum.com/fibo-candle-previous-code/.
If anyone has questions or wants to contribute to the code, don't hesitate. We thrive on collective wisdom.
In closing, the Fibo Candle Previous trading robot is intriguing. But without user feedback, it's a bit like a gift with no tag. It might be a treasure or, well, a dud!