How about using a 12th-century method to make money on the Forex market? Based on Fibonacci numbers, this method makes a technical analysis that helps anticipate trends changing in currencies. And, of course, cAlgo has a robot that follows this indicator to determine future trends in FX trading.
Fibonacci trading robot was firstly optimized for GBP/JPY trading in H4 timeframe, using three features:
- AtrPeriod at 21
- emaPeriod at 54
- Velperiod at 10
How does cAlgo Fibonacci robot work?
Basically, the robot follows the bullish and bearish. It places the buy order as soon as the trend goes bullish, and places the sell order when the trend is bearish.
- Volume average
- MA price
- MA period
- MA type
The robot opens a transaction once it receives a signal from the MA – above MA = buy, below MA = sell.
We used it with GBP/USD pair, and a deposit of USD 50,000, for a total of 100,000 transactions. The volume ratio was set at two, with an exponential MA, at 21, and set the MAprice at the close. This resulted in a profit of more than 100% on a year base.
While we used Fibonacci FX robot with GBP/USD, and the developer tested it with the GBP/JPY pair, this is a tool that is suited for most of the currency pairs, exactly because it is based on the Fibonacci indicator.
Our suggestion is to take it for a test with the data you choose to punch in. See how it does in the timeframe of your choosing, with the broker you normally use, and if the results are good, use it in real trading.
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