Description

IMBA Fibo V3.0 EA MT4: A Fibonacci-Based Expert Advisor

Introduction

The IMBA Fibo V3.0 EA is an algorithmic trading software designed for MetaTrader 4 (MT4). It leverages a popular Fibonacci strategy to identify price retracements and make automated trading decisions. Let’s dive into the details:

Key Features:

• Algorithmic Model: The EA uses an algorithmic model to turn Fibonacci retracement levels into autopilot entry and exit points.
• Fibonacci Levels: The basic Fibonacci levels used are:
  • 23.6%
  • 38.2%
  • 50.0%
  • 61.8%
  • 100.0%
• Simple Implementation: The EA is straightforward to implement, making it accessible even for traders new to algorithmic trading.

 

Trading Strategy

The IMBA Fibo V3.0 EA follows a specific strategy based on Fibonacci levels:

1. Price Retracement Detection:
   • When the price retraces from a recent move (either up or down), the EA identifies potential entry points.
   • It looks for price levels near the Fibonacci retracement levels (23.6%, 38.2%, 50.0%, 61.8%, and 100.0%).
2. Entry and Exit Points:
   • Buy Signal: If the price retraces from a recent high and bounces off a Fibonacci support level (e.g., 38.2% or 50.0%), the EA generates a buy signal.
   • Sell Signal: Conversely, if the price retraces from a recent low and encounters resistance at a Fibonacci level (e.g., 61.8% or 100.0%), the EA generates a sell signal.
3. Risk Management:
   • The EA incorporates risk management features to protect capital.
   • It calculates stop-loss and take-profit levels based on the Fibonacci levels and market conditions.

 Recommendations:

• Preferred Currency Pairs: GBPUSD, AUDUSD, EURUSD, NZDUSD, USDCAD, AUDNZD, NZDCAD
• Timeframe: M15
• Minimum Deposit: The recommended minimum deposit varies by broker, but generally, a deposit of $500 or more is advisable to ensure sufficient margin for trading.
• Optimal Lot Size: 0.01 per $1,000
• Broker Type: Raw Spread/ECN Broker
• Minimum Leverage: 1:100
• Recommended Number of Pairs to Trade: 1 pair per $2,000 (low risk)
• Utilize a VPS for Seamless 24/7 Operation (Highly Recommended)

 

Disclaimer:

• It’s advisable to allocate funds exceeding $1,000 for enhanced risk management.
• Caution is advised when trading multiple currency pairs simultaneously to avoid potential risk accumulation.
• Trading inherently involves risk, necessitating effective risk management strategies.
• Past performance does not guarantee future profitability; losses are also possible.
• Prior to live trading, conduct thorough back testing and utilize a demo account to gain insights into potential outcomes.

 

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Additional Resources:

Instant Download: https://yoforex.org/product/imba-fibo-v3-0-ea-mt4/

Contact: https://t.me/yoforexrobot

 

🔔😎Happy Trading😎🔔