Log in or register to download unlimited Forex robots!
Elite eFibo Trader 2.6 EA
This version of eFibo trader includes additional trend detection signals based on simple indicators (RSI and MA).
Once the trend is detected, eFibo will enter orders based on a Fibonacci sequence (available as parameters).
The following additions were added with this new version:
Moving Average Cross Logic to determine if EA will buy or sell.
Parameter 1: MA On/Off If off, module is off. If on, override the Open_Buy = false, Open_Sell = true, with the following logic:
parameter 2: MA1-Slow default 65 parameter 3: MA2-Fast default 15
Join the MT4talk Telegram channel: https://t.me/MT4talkchannel
Join the MT4talk Telegram group: https://t.me/+XcwLRi9oFOJhYjlk
Good sharing bro, i like your spirit. Hopefully the indicator work well for profit.
This Expert Advisor (EA), calledElite eFibo Trader 2.6 EA, is designed to automate trading activities in the MetaTrader 4 platform. It employs various trading strategies and logic to make buy and sell decisions based on a combination of Moving Averages (MA) and Relative Strength Index (RSI) filters. Here's a description of what this EA does:
Trading Logic:
The EA allows the user to specify whether it should use Moving Average (MA) logic, RSI filter, or both in its trading decisions.
MA Logic:
When using the MA logic, it calculates two moving averages: a slower one (MA1_Slow) and a faster one (MA2_Fast) on the current chart.
If the slower MA crosses above the faster MA, the EA considers a buy signal.
If the slower MA crosses below the faster MA, the EA considers a sell signal.
The EA also includes features for closing open orders when the MA conditions change.
RSI Filter:
The EA can also incorporate an RSI filter to enhance trading signals.
If the RSI value exceeds the specified RSI_High threshold, it generates a buy signal.
If the RSI value falls below the specified RSI_Low threshold, it generates a sell signal.
Position Management:
It allows setting a Trailing Stop for open positions, which dynamically adjusts the stop loss as the trade moves in your favor.
The EA offers options for opening buy and sell orders and can manage multiple pending orders at different price levels.
Risk Management:
Users can specify the lot sizes for different trade levels, allowing for a progressive lot size strategy.
There's a setting to set a maximum loss (StopLoss) for each trade.
Profit and Loss Management:
The EA can close orders when a predefined monetary profit target (MoneyTakeProfit) is reached.
It offers a choice to continue trading after reaching the profit target (TradeAgainAfterProfit) or stop trading.
Trade Information Display:
The EA provides account information, including account name, number, leverage, lot size, and pip value.
It displays trading statistics such as the total number of trades, buy and sell trades, and order magic number.
The EA also shows account balance, equity, account profit, and profit for the specific symbol.
Trailing Stop:
The EA offers trailing stop functionality that can be used after a certain level of profit is reached.
Order Management:
It can manage open trades, close them, and delete pending orders as needed.
In summary, this EA aims to simplify and automate trading by employing a combination of technical analysis tools and flexible order management strategies. Traders can use it to execute and manage trades according to their specified preferences and risk tolerance.
By using the MT4talk website, you automatically agree to the Forum Rules & Terms of Use, as well as the terms below.
Everything you see on the MT4talk website is created by its users, mainly the members of the MT4talk forum, as well as the forum administrators.
What is MT4talk?
MT4talk is an online Forex forum with over 5000 Forex robots and over 3000 Forex indicators uploaded by forum members in the last 10 years, available to download from forum posts. The uploaded files do not come with support or any guarantee.
The website does not sell Forex robots and does not provide support for any downloaded Forex robots. MT4talk offers a PRO membership, allowing you to download unlimited files from forum posts. If you choose to download a Forex robot from the forum, you do so at your own risk.
The MT4talk Team also provides an Artificial Intelligence Forex robot called "Trade Executor EA," which can be downloaded by PRO members, just like any other Forex robot on the forum. This Forex robot is only a bonus and is not included in the original PRO membership.
MT4talk is an informational website and does not guarantee the performance, profitability, or reliability of any Forex robot available for download. Updates for Forex robots may be limited or nonexistent, depending on the creator. If you choose to download any Forex robot or setting file from the forum, you acknowledge that you are using it at your own risk. MT4talk PRO membership is a digital product. Therefore, after you complete the PRO membership purchase, there is no refund available!
We are conducting real-life tests on Forex robots to assess their performance. For certain robots, we may use a demo account to conduct tests, and for other Forex robots, we may use a real Forex account. It's essential to recognize that we are not financial advisors and cannot provide investment guidance. Our objective is to discover effective market analysis solutions through testing various strategies, which could be beneficial to our community.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Disclaimer - No representation is being made that any Forex account will or is likely to achieve profits or losses similar to those shown on backtests in this forum. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this forum is for educational purposes only and is not intended to provide financial advice. Any statements posted by forum members or the MT4talk EA Tester Team about profits or income expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold the MT4talk team and forum members of this information harmless in any and all ways.
Affiliates Disclaimer - The website may have links to partner websites, and if you sign up and trade through these links, we will receive a commission. Our affiliate partners are FXOpen, FBS, Plexytrade, and MyForexVPS.
Copyright MT4talk.com Forum Rules - Privacy Policy.