ZZ FiboTrader Light
Advisor ZZ FiboTrader Light is a free version of the advisor ZZ Fibotrader.
As the name implies, the adviser uses an algorithm underlying SimplZigZag indicators presented earlier.
At the same time adviser to the indicator itself is not used, the algorithm is built directly into the EA code.
The undeniable advantages Simple ZZ algorithm, as compared, e.g., with a standard indicator ZigZag, within the standard supply terminal MT5 include the fact that the algorithm
- contains nested loops, and all calculations are performed during the admission of new price data,
- not redraw itself, a certain reversal and will steer,
- It contains only one parameter – the typical depth of the correction.
EA opens in continuation of the trend of the transaction, after the correction from the user-selected level Fibonacci (can choose several levels immediately).
To open a position, the price must first break through the level of the bar body (ie, the opening of the bar should be to level, and closing – the level) in the correction direction, and then to break this level in the opposite direction (in the direction of the trend).
After the close of the bar of the level in the direction of reverse breakdown opens the transaction.
Advisor uses pre-defined SL and TP.
In the free version you can not change the size of the lot. Furthermore, there is no parabolic system trawling stop losov after the transaction to breakeven.
Nevertheless, even the free version of the adviser showed a good yield in the interval of 10 years on a pair EURUSD, which tested the adviser.
Advisor using the following settings (optimum values are given for the pair EURUSD on timeframe H1):
- Min Fibo base – minimum zigzag shoulder on which mesh (optimum value = 150 points) can be constructed
- Min ZigZag leg – minimum correction, after which the zigzag builds a new arm (optimum value = 30 points)
- Stop loss level (points) – size stop-loss in paragraphs (optimum value is not less than 150 points)
- Take profit level (points) – size take profit (optimum value = 90 points)
- 23.6% retracement – if true – the level used
- 38.3% retracement – if true – the level used
- 50.0% retracement – if true – the level used
- 61.8% retracement – if true – the level used
- 76.4% retracement – if true – the level used
- Grid Color – color of grid
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