STS_Fibonacci_Bot opens positions upon reaching the Fibonacci levels - one of the most commonly used entry strategies for trend corrections. You can choose one or more levels at which the bot will open a position, if the price corrects to the respective level.
The robot opens short positions upon reaching the 23.6%, 38.2% and 50% Fibonacci levels.
The robot opens long positions at touch of the 23.6%, 38.2% and the 50% Fibonacci levels.
Here are the settings of STS_Fibonacci_Bot:
✓ You set the upper and lower limits of the last swing;
✓ The robot automatically calculates where the Fibonacci levels are;
✓ You set the direction - short or long;
✓ You manually set the take profit level;
✓ Stop-Loss level for Long positions is the Down level of the range and Stop-Loss for Short positions is the Up level of the range;
✓ You set the volume of the position;
✓ The robot will not work and will display an error if you choose such a trading zone in which the price has already reached one of the levels.