Fibot EA is developed by Russian programmers, trading is based on the famous Fibonacci levels. The entrance is carried out on breaking through the correctional level 38.2. The robot can trade both using the martingale system and without it, using hard SL and TP settings, opening only one trade.

Attention !!! Please read carefully the rules for installing the advisor, and install it correctly. Before publishing, we check everything and publish only those advisors that work on our accounts !!! At least at the time of this article’s publication. In order not to miss any material, subscribe to our telegram channel https://t.me/Fx_VIP

Backtesting:

We conducted the first back test on the chart of the EURUSD currency pair, H1 timeframe, $1000 deposit, default settings, see the result below for more details.

We carried out the next back test on the chart of the EURUSD currency pair, H4 timeframe with a $300 deposit, but in this case we used our own settings and the result turned out to be less aggressive than in the case of standard settings and shows a good profit and a small maximum drawdown on a small deposit, no doubt this is a plus.
You can download the set file with our settings by clicking on the link in our telegram channel https://t.me/FX_VIP/1913
Backtest result below

Settings:

Translation of settings:

Strategy settings
• Bars to build levels – how many bars to use to build Fibo
levels. 50 to 300 is enough. The lower the number here, the weaker
levels will be significant.
• Fibo Minimum Width is a very important option. If you put 100 here,
for example, only grids with a distance from level 0 to 100 will be taken into account
at least 100 points. This can filter out small trends and flat
movement. It is optimal here to use a value of 400 and above.
• Color levels
• Thickness of levels
• The color of the arrows (the arrows show the direction of the correction!)
Control settings
• Reverse signals – when this option is enabled, the signals will be reversed and BUY
will open where SELL opened and vice versa.
• Cross-closing – if you enable this option, orders will be closed when
return signal. If you turn off the martingale, then we will see a clean work
Expert Advisor on the built-in indicator (pure working out by signals).
Lot settings
• Start lot – start (fixed) lot of orders.
• Money management – the amount for the minimum lot is 0.01 (or 0.10 if any
restrictions). Formula: Lot = Balance / MM * Min. lot.
Closing orders. All stops and profits are virtual (invisible to the broker)
• Take profit in points.
• Take profit multiplier.
• Close by Close candles. A new option essentially replacing the trailing stop. She is
allows you to close a deal only after closing the bar on which
the required profit was formed taking into account the take profit.
• Stop loss in points.
• Stop loss multiplier (multipliers only apply to take profit and stop loss
loss in points).
• Take profit in % – from the total deposit. For example, a deposit of 2000 USD, with the value
here 20 = 200020% = 200 USD. With a plus of 200 USD, the adviser will close all transactions. • Stop loss in % – of the total deposit. For example, a deposit of 2000 USD, with the value here 20 = 200020% = 200 USD. With a minus of 200 USD, the EA will close all trades.
Martingale settings
• Martingale strategy. There are 3 options to choose from – “Off” (martingale
disabled), “Multiply” (multiply the next lot), “Plus” (plus
initial lot).
• Step of orders.
• Step multiplier.
• Lot multiplier.
• Enable hedging.
• Lot multiplier by trend.
Safety
• Stop trading. If you enable this option, the EA will bring orders to
profit and will not continue trading until this option is disabled.
• Auto translation to 5 characters.
• Trading by bars – we recommend enabling it. This will save you from draining on sharp
jumps at news releases.
• Maximum lot.
• The maximum number of knees (when working with martingale).
• Maximum spread (for start orders only).
• Maximum slippage.
• Expert ID – identification number (Mqgic Number).
Opening hours for start orders. Martingale works at any time.
• Monday – on/off.
• Hour of start.
• Start minute.
• Stop hour.
• Stop minute.
• Tuesday – on/off.
• Hour of start.
• Start minute.
• Stop hour.
• Stop minute.
• Wednesday – on/off.
• Hour of start.
• Start minute.
• Stop hour.
• Stop minute.
• Thursday – on/off.
• Hour of start.
• Start minute.
• Stop hour.
• Stop minute.
• Friday – on/off.
• Hour of start.
• Start minute.
• Stop hour.
• Stop minute.
Graphics settings
• Graphics – on/off. Be sure to turn off the graphics when testing the robot in
strategy tester! This will greatly increase the speed of testing!
• Panel color (background).
• The color of the panel’s borders (border).
• Color information.
• Profit color.
• Loss color.
• New knee color – level color for placing new orders (if enabled
martingale). It should be borne in mind that if the level is broken when turned on
trading by bars, the order will open from a new bar.
• Color of buy orders.
• Color of sell orders.
• Comment to orders. If desired, the robot can be used on banar
options by setting the expiration time in the comment.

Conclusion:

I just love fibonacci levels and always use them in my manual trading, and whoever says anything bad about classical analysis about support and resistance levels about fibonacci levels about trend lines and other similar classic tools, I am always ready to argue with everyone) All this – a classic of trading, it all works and will always work, it’s just a matter of who and how uses all this in their trading!
But now the conversation is not about that, we are considering an adviser and I have not tested it yet, but I will definitely put it on my cent account and look at the result, of course, with standard settings, it does not inspire confidence in me, this is such a tough martingale, but with some kind of interesting approach , the fact is that after opening the first transaction, if the price goes against our position, the adviser begins to average out lock orders, that is, it opens both a buy and a sell at the same time, but one order, which is in the direction of the first one, the volume is larger, in general, in the end, all positions are trying to steer into a total profit and close all orders, well, somehow it’s all confusing)))
But the adviser has many settings and all of them are clear, and we can easily optimize the adviser and make trading easier and more profitable, without martingale, order grid averaging and other things, we can change the size of the TP, set the SL, prohibit trading on certain days of the week and hours, if we use martingale we can set the number of order knees and much more.
But if you do not want to understand all these settings, I recommend downloading our set file from the link in the telegram channel https://t.me/FX_VIP/1913 and just put EA with this set on a cent account 300 (3$), pair EURUSD H4 timeframe and look at the result for at least 3 months, after make a conclusion about the adviser, I myself don’t know what the result will be, but if you don’t try, you’ll never know.
Happy trading everyone!!!

Reminder: As with every trading system, always remember that forex trading can be risky.  Don’t trade with money that you can not afford to lose.  It is always best to test EA’s first on demo accounts, or live accounts running low lotsize.  You can always increase risk later!

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