DowHow

FiboPro

Expert Adviser

It is amazing in its simplicity, adapts to the current markets without disregarding the nature of stock market trading (movement, correction, trend) and leaves the trader in the market for a relatively short time only.

Save precious lifetime and trade with my Addon

This Expert Adviser makes trading easier for you

The Expert Adviser does not replace an intensive and comprehensive trading education!However, it is ideally suited to make your life as a trader easier and more comfortable. It is ideal for working traders whose focus is not on intensive chart analysis.

On the road to success with Dow Theory

Due to the fast pace of the stock market, the experienced trader tries to expose their money to risk only in a manageable time frame. Therefore, with the Add On, we always trade out of the correction in the direction of the trend, considering trend trading and the Fibnocacci retracement assumption.

How the Expert Adviser works

What does the signal look like?

As soon as you activate the EA in your chart (regardless of the time unit), the current trend is displayed(red for downward, green for upward, yellow for invalid trend),, including the last valid correction zone and the respective Fibonacci retracements, if the last movement was corrected by more than 23%. At the top right of the picture you can see the marker that indicates that you have switched on your EA and that the signals are now being traded.

A signal is genereted if the following conditions occur in compliance with thebasic rules of exchange trading. The color arrows in the chart show you the signal(click on the red or green buttons called Pro/Pro_Kin the actionbar):

1. A valid trend exists.

2. The price is more than 38% in the correction

3. A doji, shooting star or reversal bar occurs vor.    

4. The price shouldn ́t be more mature than the fourth correction (thats not a rule that is only a proposal)

5. When the signal has not led to a deal after max. 4 periods , the signal expires.

6.New signals can arise during an ongoing deal, but no further deals are triggered.

As soon as the first four points are fulfilled, the deal is triggered. The setup is now hard to beat in its simplicity. Based on the basic assumption of the Dow theory that a trend continuation is always more likely than a trend break (the statistical probability is approx. 65%, with simultaneous and the same direction of the overriding trend/time unit, the probability increases to approx. 72%), we use the impulse movement out of the correction zone in the direction of the trend and take use of the Fibonacci retracements here. In the chart you can see that the respective Fibonacci retracements are marked in colour. This serves to have both the entry and the target immediately at hand: Red to red, blue to blue, green to green and black to black. The deeper the correction, the closer the target.

This Expert Adviser takes us back to the absolute roots of stock market trading

72% chance of success

On the basic assumption of the Dow theory that a trend continuation is always more probable than a trend break (the statistical probability is approx. 65%, with simultaneous and the same direction of the overriding trend/time unit, the probability increases to approx. 72%).

Entry Signals

Maybe you can't sit in front of your PC all day to analyse charts because of your job, or maybe you simply don't have the time. With the EA, this work is no longer necessary. Based on the corresponding specifications, the EA constantly shows you new entry signals.

Save time

In terms of time saving, the Expert Adviser brings another big plus. The automated chart analysis not only gives you perfect entry signals, but also saves you a lot of time, which you can use for your personal training.

Installation instructions for loading the EA into MT 4

1. Save the EA file (ex4) on the desktop of your computer. You can rename the file as you wish.

2. Go to the desktop, select the file and copy it to the clipboard (e.g. with the key combination Ctrl + c).

3. Now open the MetaTrader in which you want to install the EA.

4. In the “File” menu, select the item “Open file folder”. 5.

5. First select the sub-folder “MQL4”, then the sub-folder “Experts” and insert the cached file (e.g. with the key combination Ctrl + v).

6. Now close MetaTrader and reopen it.

7. In the Navigator window, the EA can now be found under “Expert Advisors”.

8. Select your demo account.

9. Double-click or drag-and-drop the EA onto the chart (symbol, timeframe) on which you want to run the EA.

10. Double-click or drag-and-drop the EA onto the chart (symbol, timeframe) on which you want to run the EA.

11. After you have clicked on OK, you will see the EA name at the top right of the chart and a symbol to the right of it: Smiley or Frowny. Frowny means: either “AutoTrading” is switched off (button in the upper toolbar) or “Allow Live Trading” (see point 10) is not checked for this EA; means: EA can trade.

  • The indicator “Heiken Ashi” must be available in this exact notation in the MT4 instance in which the EA is to be used.
  • Time interval and symbol are determined by selecting the chart accordingly.
  • All price relevant settings in pips:
    If 5- or 4-digit quotes are used, 1 pip = 0.0001.
    If 3- is quoted and if “JPY” or “jpy” is found in the symbol name, 1 pip = 0.01.
    When quoting 1, 2 or 0 digits, 1 pip = 1.
  • If you want to run the EA in several charts with the same symbol (e.g. different settings in the EURUSD are to be tested or traded in parallel), please enter a different MagicNumber / ID for each one so that the deals can be recognised correctly by the EA.
  • In order to be able to generate deals in the strategy tester, “AutoTrading” must be activated in MT4 in many MT4 versions.

In order for the push notifications to work, you must make the corresponding settings in MT4 under Tools → Options → Notifications. To do this, tick the box next to “Switch on push notifications” and enter your MetaQuotes ID.

To receive the MetaQuotes ID, you need to install the mobile version of MetaTrader for iPhone or Android on your smartphone. There you will find it under Settings → Notifications as soon as you have set “Allow/allow notifications” or similar for the MT4 app in the iPhone/Android settings.

  • Tools -> Options -> E-mail – Check the box Activate.
  • Enter your SMTP server (outgoing mail server), e.g. smtp.gmail.com, and put “:25” behind it. If the connection does not work after you have set it up, you can try entering “:465” instead of “:25”.
  • Enter your user name of the email account, e.g. “[email]” – Enter your email password for this email account.
  • Enter the From address, e.g. “[email]”.
  • Enter the To address, e.g. “[email]” ATTENTION: Some email providers (e.g. T-Online) allow SMTP access only by authentication. MT4 does not yet do this. Therefore, set up the email notification with a provider that does not require authentication (e.g. Gmail).

Dokumentation einstellbarer Parameter

Dieses Setup wird solange genutzt, wie der Trend läuft, natürlich unter Berücksichtigung der oben genannten Regeln.

ParameterStandardErklärung
ZigZag_Depth/De viation/Backstep15/5/2Einstellungen für den ZigZag Indikator.
ZigZag_Line2Linienstärke für den ZigZag Indikator.
___InputT___ -/ Trading
FiboLevels0.0, 23.6, 38.2, 50.0, 61.8, 78.6, 85, 100.0Fibo-Levels im englischen Zahlenformat, Komma-separiert.
_FiboColorsBlack, NONE, Red, Red, Red, Blue, Green, BlackFarb-Gebung für obige Fibo-Levels, Komma-separiert. Man muss die gleiche Anzahl an Farb-Gebungen eingeben wie oben FiboLevels definiert sind.
_SL_OffsetPips10Kurs-Pips, um die der SL zusätzlich erweitert wird.
TP_FiboLevels-100.0, -61.8, -61.8, -61.8, -61.8, -27, -18, 0.0Fibo-Levels für TP im englischen Zahlenformat, Komma-separiert. Man muss die gleiche Anzahl an Farb-Gebungen eingeben wie oben FiboLevels definiert sind.
_TP_FiboColorsBlack, Red, Red, Red, Red, Blue, Green, BlackFarb-Gebung für obige TP-Fibo-Levels, Komma-separiert. Man muss die gleiche Anzahl an Farb-Gebungen eingeben wie oben TP-FiboLevels definiert sind.
EA_ModusFixeLots

nurSignale = Signale werden nicht automatisch gehandelt, sondern nur per Pfeil im Chart sichtbar gemacht. Außerdem werden die im Benachrichtigungsmanagement eingestellten Benachrichtigungen abgesetzt.

FixeLots = Vollautomat: Die Lotsize, die unter FixeLotsize eingestellt ist, wird bei gültigem Signal für Dealeröffnungen verwendet. Außerdem werden die im Benachrichtigungsmanagement eingestellten Benachrichtigungen abgesetzt.

  

EquityLots = Vollautomat: Die Lotsize wird automatisch aus Kursrisiko (SL wird automatisch ermittelt), dem Tickwert des Symbols und dem unter DealEinsatzInPrzntEquity eingestellten Risiko pro Deal errechnet und dann bei gültigem Signal für Dealeröffnungen verwendet. Außerdem werden die im Benachrichtigungsmanagement eingestellten Benachrichtigungen abgesetzt.

BalanceLots = Vollautomat: Die Lotsize wird automatisch aus Kursrisiko (SL wird automatisch ermittelt), dem Tickwert des Symbols und dem unter DealEinsatzInPrzntBalance eingestellten Risiko pro Deal errechnet und dann bei gültigem Signal für Dealeröffnungen verwendet. Außerdem werden die im Benachrichtigungsmanagement eingestellten Benachrichtigungen abgesetzt.

KtoWhrgLots = Vollautomat: Die Lotsize wird automatisch aus Kursrisiko (SL wird automatisch ermittelt), dem Tickwert des Symbols und dem unter DealEinsatzInKtoWhrng eingestellten Risiko pro Deal errechnet und dann bei gültigem Signal für Dealeröffnungen verwendet. Außerdem werden die im Benachrichtigungsmanagement eingestellten Benachrichtigungen abgesetzt.

FixeLotsize0.01Diese Lotsize wird verwendet, wenn EA_Modus auf FixeLots; die Mindest- und Maximal-Lotsize sowie der Lotstep des Brokers für das Symbol muss eingehalten werden.
DealEinsatzInPrz ntEquity0.1Risiko in Prozent des aktuellen KontoEquity, das jeder Deal riskieren darf, wenn EA_Modus auf EquityLots eingestellt ist. ACHTUNG: Es handelt sich um einen ungefähren Wert unter normalen Marktbedingungen. Zum Beispiel bei Gaps oder illiquiden Marktsituationen kann der wirklich erzielte Verlust deutlich höher liegen, theoretisch sogar unbegrenzt und über Ihren Kapitaleinsatz hinausgehend.
DealEinsatzInPrz ntBalance0.1Risiko in Prozent der aktuellen KontoBalance, das jeder Deal riskieren darf, wenn EA_Modus auf BalanceLots eingestellt ist. ACHTUNG: Es handelt sich um einen ungefähren Wert unter normalen Marktbedingungen. Zum Beispiel bei Gaps oder illiquiden Marktsituationen kann der wirklich erzielte Verlust deutlich höher liegen, theoretisch sogar unbegrenzt und über Ihren Kapitaleinsatz hinausgehend.
DealEinsatzInKto Whrng10Risikobetrag in Kontowährung, das jeder Deal riskieren darf, wenn EA_Modus auf KtoWhrgLots eingestellt ist.
ACHTUNG: Es handelt sich um einen ungefähren Wert unter normalen Marktbedingungen. Zum Beispiel bei Gaps oder illiquiden Marktsituationen kann der wirklich erzielte Verlust deutlich höher liegen, theoretisch sogar unbegrenzt und über Ihren Kapitaleinsatz hinausgehend.
___InputF___ -/ Filter
Maximal_HHTT4Wie viele Trendzyklen dürfen maximal gehandelt werden?
Zeichnen_HAClo seNachFiboLevel1-1 = keine Fibo-Levels einzeichnen;
Eingabe, welches der obigen Fibo-Levels für den Heikin Ashi- Close-Kurs als Basis verwendet werden soll, ab dem die Fibo- Levels ins Chart eingezeichnet werden soll. Als Level-Nummer in MT4-Denkweise einzugeben: 0 = 0.0; 1 = 23.6; 2 = 38.2; usw. Standard 1 = 23.6er Level wird verwendet.
Einstieg_HAClos eNachFiboLevel2Eingabe, welches der obigen Fibo-Levels für den Heikin Ashi- Close-Kurs als Basis verwendet werden soll, ab dem Einstiegssignale möglich sind. Als Level-Nummer in MT4- Denkweise einzugeben: 0 = 0.0; 1 = 23.6; 2 = 38.2; usw. Standard 2 = 38.2er Level wird verwendet.
keinEinstieg_Clos eNachFiboLevel7Eingabe, welches der obigen Fibo-Levels für den Heikin Ashi- Close-Kurs als Basis verwendet werden soll, ab dem keine Einstiegssignale möglich sind. Als Level-Nummer in MT4- Denkweise einzugeben: 0 = 0.0; 1 = 23.6; 2 = 38.2; usw. Standard 1 = 100er Level wird verwendet.
Doji_ToleranzPip s1Wieviele Pips Kerzenkörper darf eine Kerze maximal haben, damit sie noch als Doji gewertet wird.
-1 = Doji-Zusatzfilter ausgeschaltet.
Shootingstar_Ker zeFalseTrue = Shootingstar-Bedingung muss erfüllt sein, damit ein Signal zugelassen wird.
_ShootingStar_Ra tio2.0Mindest-Verhältnis zwischen der Strecke Kerzenhoch minus Eröffnungskurs und dem Kerzenkörper, damit eine Kerze als Shootingstar gewertet wird.
_ShootingStar_To leranzPips1Maximaler Pipabstand zwischen Kerzenschlusskurs und Kerzentief, damit eine Kerze als Shootingstar gewertet wird.
keinEinstieg_X_ KerzenNoFill4Nach wie vielen Kerzen ohne Fill soll eine Stop-Order gelöscht werden?
___InputB___ -/ Benachrichtigungsmanagement
EmailAlertFalseTrue = Email-Benachrichtigung wird bei Signal versendet (muss eingerichtet sein in den Einstellungen der MT4 Instanz, s.o. der Abschnitt „Email-Benachrichtigung einrichten“).
False = es wird keine Email bei Signal versendet.
PopUpAlertFalseTrue = Bei Signal erscheint ein PopUp-Alarm-Fenster (mit Sound) im MT4.

If you follow a few simple rules, trading is not really complicated. The real challenge is taking place in your mind. If you decide to try and buy this addon you ́ve been doing a further step into the right direction. But that is not enough. Professional tools are one thing, a solid education is a complete other case. If you decide to buy this addon I will give you a special offer for education you can take on my homepage.

Trading in any form involves extremely high risks of loss that are not limited to your capital investment. The use of EAs can increase these risks even more. If you wish to use this EA in real money trading, you are and will remain fully responsible for all trading results. CAUTION: If your EA has a lot increase functionality (e.g. “Martingaling” position doubling after a losing deal), your risk of loss increases significantly! Profits in the past are no guarantee for the future. The programming of this EA does not constitute financial advice according to WPHG, KWG or VermAnlG. You are and remain fully responsible for the correct use.

This setup is used as long as the trend is running, of course taking into account the rules mentioned above.

ParameterStandardExplanation
ZigZag_Depth/De viation/Backstep15/5/2Settings for the ZigZag Indikator.
ZigZag_Line2Line width for the ZigZag Indikator.
___InputT___ -/ Trading
FiboLevels0.0, 23.6, 38.2, 50.0, 61.8, 78.6, 85, 100.0Fibo levels in English number format, comma-separated.
_FiboColorsBlack, NONE, Red, Red, Red, Blue, Green, BlackColour-banding for above Fibo-Levels, comma-separated. You have to enter the same number of colour bending as the FiboLevels defined above.
_SL_OffsetPips10Price pips by which the SL is additionally extended.
TP_FiboLevels-100.0, -61.8, -61.8, -61.8, -61.8, -27, -18, 0.0Fibo-Levels for TP in English number format, comma-separated. You have to enter the same number of colour-bands as FiboLevels are defined above.
_TP_FiboColorsBlack, Red, Red, Red, Red, Blue, Green, BlackColour bending for the above TP-Fibo-Levels, comma-separated. You have to enter the same number of colour bending as the TP-FiboLevels defined above.
EA_ModusFixeLotsonlySignals = Signals are not traded automatically, but only made visible in the chart by means of an arrow. In addition, the notifications set in the notification management are sent.

FixeLots = Fully automatic: The lot size set under FixeLotsize is used for dealer openings if the signal is valid. In addition, the notifications set in the notification management are sent.
  

EquityLots = Fully automatic: The lot size is automatically calculated from the price risk (SL is automatically determined), the tick value of the symbol and the risk set under DealEinsatzInPrzntEquity per deal and then used for dealer openings if the signal is valid. In addition, the notifications set in the notification management are sent.

BalanceLots = Fully automatic: The lot size is automatically calculated from the price risk (SL is automatically determined), the tick value of the symbol and the risk set under DealBetInPrzntBalance per deal and then used for dealer openings if the signal is valid. In addition, the notifications set in the notification management are sent.

KtoWhrgLots = Fully automatic:The lot size is automatically calculated from the price risk (SL is automatically determined), the tick value of the symbol and the risk set under DealEinsatzInKtoWhrng per deal and then used for dealer openings if the signal is valid. In addition, the notifications set in the notification management are sent.

FixeLotsize0.01This lot size is used when EA_Mode is set to FixeLots; the minimum and maximum lot size as well as the broker’s lot step for the symbol must be respected.
DealEinsatzInPrz ntEquity0.1Risk as a percentage of the current account equity that each deal is allowed to risk when EA_Mode is set to EquityLots. CAUTION: This is an approximate value under normal market conditions. For example, in the case of gaps or illiquid market situations, the real loss achieved can be significantly higher, theoretically even unlimited and exceeding your capital investment.
DealEinsatzInPrz ntBalance0.1Risk as a percentage of the current account balance that each deal is allowed to risk when EA_Mode is set to BalanceLots. CAUTION: This is an approximate value under normal market conditions. For example, in the case of gaps or illiquid market situations, the real loss achieved can be significantly higher, theoretically even unlimited and exceeding your capital investment.
DealEinsatzInKto Whrng10Amount of risk in account currency that each deal is allowed to risk when EA_Mode is set to KtoWhrgLots.
CAUTION: This is an approximate value under normal market conditions. For example, in the case of gaps or illiquid market situations, the real loss achieved can be significantly higher, theoretically even unlimited and exceeding your capital investment.
___InputF___ -/ Filter
Maximal_HHTT4What is the maximum number of trend cycles that may be traded?
Zeichnen_HAClo seNachFiboLevel1-1 = do not draw Fibo levels;
Enter which of the above Fibo levels for the Heikin Ashi- Close price should be used as the basis from which the Fibo levels should be drawn on the chart. To be entered as the level number in MT4 thinking: 0 = 0.0; 1 = 23.6; 2 = 38.2; etc. Default 1 = 23.6 level is used.
Einstieg_HAClos eNachFiboLevel2Enter which of the above Fibo levels should be used for the Heikin Ashi- Close price as the basis from which entry signals are possible. Enter as level number in MT4 way of thinking: 0 = 0.0; 1 = 23.6; 2 = 38.2; etc. Standard 2 = 38.2 level is used.
keinEinstieg_Clos eNachFiboLevel7Enter which of the above Fibo levels is to be used as the basis for the Heikin Ashi- Close price above which no entry signals are possible. Enter as level number in MT4 way of thinking: 0 = 0.0; 1 = 23.6; 2 = 38.2; etc. Standard 1 = 100 level is used.
Doji_ToleranzPip s1What is the maximum number of pips of candle body a candle may have in order for it to still be counted as a doji.
-1 = Doji additional filter switched off.
Shootingstar_Ker zeFalseTrue = Shootingstar condition must be met for a signal to be allowed.
_ShootingStar_Ra tio2.0Minimum ratio between the distance candle high minus opening price and the candle body for a candle to be considered a shooting star.
_ShootingStar_To leranzPips1Maximum pip distance between candle closing price and candle low for a candle to be considered a shooting star.
keinEinstieg_X_ KerzenNoFill4After how many candles without a fill should a stop order be deleted?
___InputB___ -/ Benachrichtigungsmanagement
EmailAlertFalseTrue = Email notification is sent to Signal (must be set up in the settings of the MT4 instance, see section “Set up email notification” above).
False = no email is sent to Signal.
PopUpAlertFalseTrue = In the event of a signal, a pop-up alarm window (with sound) appears in MT4.