MAC-Fibo EA - MetaTrader 4 Expert | Forex Indicator Download - MT4/MT5 Resources

NOTE: Trading with a live account is at your own risk. In the long run, this EA cannot be profitable.

EA based on MACFibo trading strategy. Indicators are here .

More details on this strategy can be found here and on the babypips forum here .

When the 5EMA crosses the 20SMA downward:
Draw 2 points as follows:
Point A; candle close confirming the downward crossover
Point B: the highest price of the current wave before the crossover,
Profit Target: @ 161.8 Fibonacci Levels Stop Loss: Max 38.2 (Min @ 78.6) depending on your risk appetite.

Long signal:
When the 5EMA crosses the 20SMA upward:
Draw 2 points as follows:
Point A; candle close confirming the upward crossover
Point B: the lowest price of the current wave before the crossover,
Profit Target: @ 161.8 Fibonacci Levels Stop Loss: Max 38.2 (Min @ 78.6) depending on your risk appetite.

Exit mechanism for losing trades if the stop loss has not been reached: if the 5EMA crosses the 8SMA in the opposite direction of your open trade.

Attachment download

📎 MACFibo_-EA_v1_1.mq4 (14.33 KB)

Source: MQL5 #10740