If you're looking to take your trading game to the next level, let me introduce you to the ZZ Fibo Trader, a handy Expert Advisor designed specifically for MetaTrader 5. This little gem is all about simplifying your trading strategy using the Simple ZZ Fibo indicator.
The Simple ZZ Fibo is tailored for use with trading systems, making your life easier by storing price information linked to the Fibonacci levels right in the indicator buffers (ranging from 2 to 8). This means you can easily access these levels directly within your Expert Advisor.
So, how does it work? The EA kicks into action by opening a position right after a reverse breakout occurs at the top level. This serves as a straightforward filter to help you avoid those pesky false breakouts.
When it's time to close your positions, the EA employs Wilder's Parabolic SAR for trailing the price. This method not only helps lock in profits but also gives you a bit of peace of mind while trading.
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