Fibonacci Strategy + Advanced Protection (Made with AlgoBuilderX)

// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit https://algobuilderx.com to start building your own cBots today!

This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.

Strategy: At midnight, the strategy sets an entry point at the previous day's Fibonacci level, which can be configured via parameters. It also graphically draws the previous day's lows and highs. When the current price crosses the Fibonacci level, a long position is opened if the previous daily candle is bullish, otherwise a short position. Then, you can manage the trade with careful risk management, including a fixed take profit, fixed stop loss, various advanced take profit levels and breakeven setting.

All values are customizable, including the Fibonacci level.

Parameters:

Backtest example:

AlgoBuilderX Project:

OnTick

OnBar

Create your cBot now in an easy and intuitive way!
Try AlgoBuilderX now, no registration required: www.algobuilderx.com

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You will be able to import it into the AlgoBuilderX workspace, view it, edit it, or export it.

Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.