PRICEACTION ROBO for Metatrader 4 is an automated Forex robot that revolves around Fibonacci retracement levels. It provides a visual representation of these levels on the Metatrader chart, including swing highs, breakout areas, critical zones, and swing lows. This expert advisor has demonstrated impressive performance.

Strategy

The ROBOT identifies key Fibonacci levels on the chart, including:

• Swing High: The highest point in a recent price movement.
• Breakout Area: The zone where price breaks out of a range.
• Critical Area: A significant level where price often reacts.
• Swing Low: The lowest point in a recent price movement.

How the EA Takes Trades

• Fibonacci Retracement Levels: The ROBOT identifies retracement levels based on the Fibonacci sequence. When price retraces to these levels after a trend move, the EA looks for potential entry points.
• Confirmation Signals: The ROBOT combines Fibonacci levels with other technical indicators (such as moving averages or RSI) to confirm trade signals. It avoids premature entries and waits for confirmation.
• Risk Management: The ROBOT incorporates proper risk management by setting stop-loss and take-profit levels. It aims for a favorable risk-to-reward ratio.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.