Example N3: Non-traded signals generated by fibonacci search
This is not a ready-to-use trading strategy. A trading strategy requires adjustment to the timeframe and symbol, along with thorough backtesting. The example is intended as a foundation for your own custom strategy and to help you get familiar with the Expert Advisor Builder web application. To import and use an example, please follow the instructions provided here.
Description
This example illustrates the Fibonacci pattern search engine functioning in observation mode. The module identifies Fibonacci retracement and extension patterns without executing trades, allowing traders to study these mathematical relationships in price movements. It focuses on detecting both bullish and bearish Fibonacci patterns based on the golden ratio levels.
The search engine analyzes price swings and automatically identifies when prices respect key Fibonacci levels like 38.2%, 50%, and 61.8%. These levels often act as support and resistance zones where price reversals occur. The Data Feedback component tracks Fibonacci pattern occurrences over 10,000 periods, building a comprehensive database of pattern behavior.
This configuration helps traders understand how Fibonacci mathematics applies to market movements. By observing these patterns without trading risk, you can evaluate their effectiveness in your chosen markets. The histogram analysis with 100 bins provides detailed insights into pattern distribution, helping you determine optimal settings for incorporating Fibonacci patterns into automated trading strategies.
Recreate the Example
You can either import this example directly or set it up manually. To manually replicate the trading module, make sure a newly added module includes the following key settings and that the professional mode is activated:
Trade Basics
- Operation type = Long signals only drawn
- General signal visualization = On
Signal Generation - Fibonacci Patterns
- Signal in use = On
- Signal used for = Entry
- Bullish Fibonacci = On
- Bearish Fibonacci = On
- Signal visualization = Off
Data Feedback
- Value analysis = On
- Value analysis refresh interval = 1000
- Value analysis news period = 0
- Value analysis indicator period = 0
- Value analysis chart analyzer period = 0
- Value analysis Candle pattern search period = 0
- Value analysis Chart pattern search period = 0
- Value analysis Fibonacci pattern search period = 10000
- Value analysis histogram bins = 100
Screenshots
