Fibonacci Expert Advisor Review

fibonacci-expert-advisor

In this post I will be reviewing the Fibonacci Expert Advisor. As you may be aware an Expert Advisor (EA) is a fully automated forex trading robot. Forex robots do all the trading for you. It takes only a few minutes to setup and runs on the popular and free to download MetaTrader 4 trading platform. It is suitable for all levels of traders including complete novices. There is no manual trading required which is great for those that do not have the time nor the knowledge to do so. Especially when you consider the technicalities and complexities required to learn Fibonacci indicators. If you have optimization skills with the MetaTrader 4 strategy tester then there is potential to find bespoke settings.

Fibonacci Expert Advisor Strategy Running
Fibonacci Expert Advisor Strategy Running

Fibonacci Expert Advisor Strategy

As the name suggests, this forex robot uses principles derived from the Fibonacci indicator which is basically a sequence of numbers found in nature and trading. Fibonacci can produce predictable patterns. There is a reason it is one of the most widely used indicator in trading today.

Professional traders use the Fibonacci levels to help determine potential support and resistance levels which can be beneficial for entering and exiting trades.

The Fibonacci Expert Advisor includes 3 different versions of the robot – each with a different money management strategy and suitable for different pairs. I would say this border lines on over optimization as universal settings in one expert advisor is usually a sign of a solid trading system although one could argue due to the different behaviours of various pairs it is absolutely fine to optimize them for different settings.

There are hedging and averaging in options should you wish to utilise them. It runs on the 1 hour charts and has other useful features such as news and time filters. In fact, there are a lot of additional settings you can play with if you wish like daily profit target, close all at target profit, maximum orders and much more.

Fibonacci Expert Advisor Strategy
Fibonacci Expert Advisor Strategy

Fibonacci Expert Advisor Back Testing

There is a back test shared on the Fibonacci Expert Advisor website but the modelling quality is only 90% whereas I would always use real tick data and real spreads for 99% modelling quality. Furthermore, we do not know what spread was used in this back test nor if the liquidity would have been available to execute all of the positions.

Fibonacci Expert Advisor Back Testing
Fibonacci Expert Advisor Back Testing

Fibonacci Expert Advisor Live Results

To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.

Fibonacci Expert Advisor Summary

There are different versions depending on your preferences. You get 3 versions of the Fibonacci Expert Advisor for MetaTrader 4 and some bonus indicators for manual trading. You can choose to run one or all of the Fibonacci Expert Advisor’s. The package also includes Ebooks and videos that explain the very basics of forex trading as well as useful Fibonacci principles. It comes with full support, detailed setup instructions, free lifetime updates and a 60 day money back guarantee. Personally, this forex EA is too risky for my taste.

Fibonacci Expert Advisor

$358
5

Functionality

4.0/10

Usability

5.5/10

Versatility

5.5/10

Features

  • Multiple Currency Pairs
  • Multiple Timeframes
  • Unlimited Licenses
  • 60 Day Money Back Guarantee
  • Full Support
  • Lifetime Updates
  • Fully Automated Forex System
  • Fibonacci Trading Robot
  • Detailed Instructions
  • MetaTrader 4