Fibonacci Expert: Free MT5 Expert Advisor

Overview

Fibonacci Expert automatically places various pending orders, including buy stops, sell stops, buy limits, and sell limits, at specified intervals relative to these levels. The EA manages risk through individual stop loss and take profit settings for every order type, alongside a free margin protection feature. Users can configure trading sessions via start and stop hours and manage two distinct Fibonacci levels simultaneously. The strategy focuses on price interaction at calculated levels using multiple entry types.

Automated Fibonacci level calculation

Support for multiple pending order types

Customizable trading session hours

Independent stop loss and take profit for each level

Free margin protection system

Details

Author

ismail505 on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Breakout, Mean reversion, Hedging

Markets

Any symbol

Timeframes

M15-H1, H4 and above

Risk profile

Holds opposite positions at once

EA files

fibo_Expert.mq5

Source

github.com/ismail505/fibonacci-Expert-

Input parameters

Read from fibo_Expert.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default
`autotrade`	`bool`	`false`
`FREEMARGINCLOSE`	`bool`	`true`
`Fibo_Trade_EA_V1_Parameters`	`string`	`=============== Fibo_Trade_EA_V1 ===========================`
`Hour_Start_Trade`	`int`	`1`
`Hour_Stop_Trade`	`int`	`23`
`LastMinute`	`int`	`50`
`Commission`	`double`	`5`
`Order_Parameters`	`string`	`============== Order - Parameters ==========================`
`Trade_in_level_1`	`bool`	`true`
`MagicNumber_level1`	`uint`	`1111`
`op1`	`string`	`---------- Sell_Limit_Pending_Order_Level1 ----------`
`Sell_Limit_Pending_Order_Level1`	`bool`	`true`

Show all 40 inputs

Name	Type	Default	Description
`Sell_Limit_Percent_Target_Profit1`	`double`	`20`
`Sell_Limit_Percent_StopLoss1`	`double`	`20`
`Sell_Limit_lot_level1`	`double`	`0.01`
`op2`	`string`	`---------- Sell_Stop_Pending_Order_Level1 ----------`
`Sell_Stop_Pending_Order_Level1`	`bool`	`true`
`Sell_Stop_Percent_Target_Profit1`	`double`	`20`
`Sell_Stop_Percent_StopLoss1`	`double`	`20`
`Sell_Stop_lot_level1`	`double`	`0.01`
`op3`	`string`	`---------- Buy_Limit_Pending_Order_Level1 ----------`
`Buy_Limit_Pending_Order_Level1`	`bool`	`true`
`Buy_Limit_Percent_Target_Profit1`	`double`	`20`
`Buy_Limit_Percent_StopLoss1`	`double`	`20`
`Buy_Limit_lot_level1`	`double`	`0.01`
`op4`	`string`	`---------- Buy_Stop_Pending_Order_Level1 ----------`
`Buy_Stop_Pending_Order_Level1`	`bool`	`true`
`Buy_Stop_Percent_Target_Profit1`	`double`	`20`
`Buy_Stop_Percent_StopLoss1`	`double`	`20`
`Buy_Stop_lot_level1`	`double`	`0.01`
`Timeframe1`	`ENUM_TIMEFRAMES`	`PERIOD_H1`	TimeFrame Fibo Level-1
`max_trade_level1`	`int`	`10`
`spt0`	`string`	`===========================================`
`Trade_in_level_2`	`bool`	`true`
`MagicNumber_level2`	`uint`	`2222`
`op5`	`string`	`---------- Sell_Limit_Pending_Order_Level2 ----------`
`Sell_Limit_Pending_Order_Level2`	`bool`	`true`
`Sell_Limit_Percent_Target_Profit2`	`double`	`20`
`Sell_Limit_Percent_StopLoss2`	`double`	`20`
`Sell_Limit_lot_level2`	`double`	`0.01`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone ismail505/fibonacci-Expert- from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.

3Copy the filesCopy the .mq5 file into Experts.

4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.

5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.

Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.

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