Fibonacci Retracement System

Concept: Price retraces to a key Fibonacci level (38.2%, 50%, 61.8%) before continuing in the main trend.

Usage: Enter on retracement, SL beyond the next level, TP at Fibonacci extension.

Pairs well with: Trendlines, Support & Resistance, Order Blocks.

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How it works (quick guide)

• Trend: Simple MA filter—only buys above MA, only sells below MA.

• Swing & Fib: Finds the latest confirmed swing high/low, plots internal Fib math, and places limit orders at 38.2/50/61.8 (you can toggle each).

• Stop-Loss: Choose ATR×multiplier or fixed pips.

• TP: Uses Fibonacci extensions (default 1.272, fallback 1.618).

• Money Management: If UseRiskMM=true, lot size is computed from Risk% of balance and your SL distance; else uses FixedLot.

• Spread control: Skips actions when spread exceeds MaxSpreadPoints.

• Break-even: When price moves BE_TriggerPips in your favor, SL moves to entry ± BE_OffsetPips.

• Auto-cleanup: If the structure flips or swing anchors change, pending orders are cleared (toggle via AutoDeleteOnNewSwing).

Suggested settings (start conservative)

• Major pairs (5-digit):

  • MaxSpreadPoints = 20–25

  • Timeframe H1 Gold

  • ATRPeriod = 14, ATRMultiplier = 1.5–2.0

  • RiskPercent = 0.5–1.0

  • BE_TriggerPips = 8–12, BE_OffsetPips = 2

  • TrendMAPeriod = 100 EMA

  • Enable UseFib38 & UseFib61, keep UseFib50 on only if drawdowns acceptable.

• Volatile pairs: increase TrendMAPeriod, or raise ATRMultiplier.

Notes & tips

• Backtest on your broker’s data first; tweak SwingLookbackBars and ConfirmBars to fit the timeframe (start with M15–H1).

• StopLevel constraints: If your broker enforces minimum distances, you may need to nudge SL/TP away from price.

• For market entries on touch, set UseLimitOrders = false (the EA will enter at market instead of placing limits).

• You can layer risk per level by lowering RiskPercent or switching to FixedLot for uniform sizing across levels.