Fibo-martin advisor
For many, Fibonacci numbers are shrouded in a kind of magic, because they are actively used and despite
the simplicity of the tools that are made on their basis, they have been helping traders make 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 a modern trader cannot even imagine how he would cope without the Fibonacci grid, which helps determine correction points, as well as indicate potential profits.
The developer of the Expert Advisor also highly valued these numbers, and his practice and experience resulted in the writing of the Fibo Martin Expert Advisor. The expert is from 2010 and was written for trading the pound/dollar currency pair on the hourly time frame. a martingale was inserted into the expert , but it can be optimized to work without it.
To get started, you need to install an expert. The procedure is very simple and will take you no more than a minute. In the file menu of your MT4 terminal, open the data directory. Place the advisor that you download at the bottom of the article in the expert folder. After restarting the terminal, it should appear in the list of advisors, so just drag it onto the hourly time frame of the pound dollar currency pair. A settings window will appear in front of you, which we will discuss below.
The author of the Fibo-martin Advisor did not make much effort to display the expert settings outside, so we will be content with what we have.
The Nlot line is responsible for the number of orders opened. The default is three, but this is the maximum number (can be changed to 1, 2). Blot is responsible for the initial lot that our expert will open.
The Rate line is a coefficient that indicates the amplitude of price level deviation. This parameter is the main one, and its author recommends optimization no later than four months after continuous use.
In the MMoney line, you can enable money management , in which the lot will be determined automatically.
The Martin line is responsible for averaging. Remember, the Expert Advisor is primarily a Martingale, so trading is associated with great risks.
Fibo-martin conducted the first test with default settings without turning on martingale. Currency pair pound/dollar, hourly chart. The test period is from 01/09/2015 to 06/17/2015. I understand that the settings are morally outdated, but still look at the result below:
The advisor obviously didn't work, but it didn't drain either. Moreover, the last two months have seen a clear increase. The second test was done under the same conditions, but included the averaging function. The test result is shown in the picture below:
Despite the old settings of the expert, he was able to give thirty percent profit with a maximum drawdown of ten percent. I think that this is already more than a good result. For correct operation, you need a deposit of 100 dollars on a cent account if you work with lot 0.1, and 10 dollars respectively if you work with lot 0.01. Thank you for your attention and I recommend an expert for your tests. Good luck!