Introduction
Ah, Auto Fibonacci in any Chart window. Another trading robot promising automated Fibonacci retracement analyses. Apparently, no reviews and no ratings yet available for this product. So, we’re venturing into the unknown. Let’s dissect this contraption and see what makes it tick. By the way, if you have some experience with it, feel free to leave your review.
Description of Functions
Auto Fibonacci in any Chart window claims to identify Fibonacci retracement levels on any trading chart. Here’s what it supposedly does:
- Automatically draws Fibonacci levels based on the highest and lowest points in a given period.
- Customizable settings for different Fibonacci levels and color schemes.
- Works on multiple timeframes and chart types.
- Alerts and notifications when price hits specific Fibonacci levels.
Sounds impressive, but I've seen many “impressive” features fall flat.
Analysis of Results
Since the robot has no user reviews or ratings, we’ll need to rely on data from forexroboteasy.com. Let’s pretend for a moment we believe the stats there.
Over the last year, the robot has a mixed bag of results. Gains were sporadic. When market conditions were favorable, the robot performed decently. But during high volatility or trending markets, the robot’s performance dipped. Even Fibonacci can’t save you from a bad trade, huh?
Pros and Cons
Pros:
- Automates a cumbersome technical analysis method.
- Adaptable to different chart types and timeframes.
- Customizable settings for users to tweak.
Cons:
- Lacks user reviews and ratings, leaving potential users in the dark.
- Performance is inconsistent, especially in volatile markets.
- No transparency about the algorithm or its efficacy.
Conclusion
Auto Fibonacci in any Chart window is a mixed bag. It automates a useful technical analysis tool but suffers from inconsistent performance and a lack of user feedback. If you’ve given this robot a spin, why not share your experience and enlighten the rest of us?
Source Code - Auto Fibonacci in any Chart window
We don’t have access to the original source code sold on MQL5, but we can create something similar based on the description provided. If you're interested, check out [easytradingforum.com](https://easytradingforum.com) for a sample code. Remember, this code is our interpretation and not the official version.
Code:
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Interested in trying out the Auto Fibonacci in any Chart window? Head over to forexroboteasy.com and let us know how it works for you. Got questions about the code? Ask away. Note, we at EASY Trading Team don’t sell this robot; we just coded a version based on its description. Happy trading!