Fibo-martin Advisor
For many, Fibonacci numbers are shrouded in a kind of magic, because they are widely used and, despite
the simplicity of the tools based on them, they have helped traders earn money for decades.
The well-known wave theory also relies on these magic numbers. More than one book has been written about Fibonacci tools, and modern traders can't even imagine how they would manage without a Fibonacci grid, which helps identify correction points and point to potential profits.
The expert advisor's developer also valued these numbers highly, and his practice and experience resulted in the development of the Fibo Martin expert advisor. The advisor dates back to 2010 and was written for trading the GBP/USD currency pair on an hourly time frame. To increase profits, a martingale , but it can be optimized to work without it.
To get started, you need to install the Expert Advisor. The process is very simple and will take you no more than a minute. Open the data folder in your MT4 terminal's File menu. Place the Expert Advisor, which you downloaded at the bottom of this article, in the Expert folder. After restarting the terminal, it should appear in the list of Expert Advisors, so simply drag it to the GBP/USD currency pair's hourly time frame. This will open the settings window, which we'll discuss below.
The author of the Fibo-martin Advisor didn't put much effort into making the expert's settings public, so we'll have to make do with what we have.
The Nlot line controls the number of orders to open. The default is three, but this is the maximum number (can be changed to 1 or 2). Blot controls the initial lot size our expert advisor will open.
The Rate line is a coefficient that indicates the amplitude of price level deviation. This parameter is key, and its author recommends optimization no later than four months after continuous use.
In the MMoney line you can enable money management , which will determine the lot automatically.
The Martin line is responsible for averaging. Remember, the expert advisor is primarily a martingale, so trading is associated with high risks.
I ran my first Fibo-martin test with default settings and no martingale enabled. currency pair on an hourly chart. The test period was from January 9, 2015, to June 17, 2015. I understand the settings are outdated, but the results are still below:
The advisor clearly didn't make any money, but it didn't lose any money either. Moreover, there was a clear increase over the last two months. The second test was performed under the same conditions, but with the averaging function enabled. The test results are shown in the image below:
Despite the EA's outdated settings, it was able to generate a 30% profit with a maximum drawdown of 10%. I consider this a more than satisfactory result. For proper operation, you'll need a $100 deposit on a cent account if you're trading with a 0.1 lot, and $10 if you're trading with a 0.01 lot. Thank you for your attention, and I recommend the EA for your testing. Good luck!
