Transcend Fibonacci PRO Description :
Transcend Fibonacci PRO is a forex EA that works using the Fibonacci retracement system. This EA is equipped with TP and SL for each trade that is opened. This EA can also be equipped with averaging mode so that we can get a better average price for opening a position.
The trigger signals used are Fibonacci critical area, strength volatility, WPR indicators, Stochastic and Double MA (period 20 and period 50) as indicators of the direction of the trend. The trading system used by this EA is to use Fibonacci retracement to open orders in the fibo critical area which is between 38.2 – 61.8. This system can be said to apply to all pairs. The basic concept of using Fibonacci retracement is to look for buy opportunities when prices are in the support range. Conversely, you can look for sell opportunities when prices are in the range of resistance obtained from the Fibonacci retracement.
To be able to find retracement levels, you must first find significant highs and lows. These points are referred to as swing high and swing low.
In market movements during an uptrend, all you need to do is pull the Fibonacci retracement from swing low to swing high as seen in the picture below.
Conversely, in price movements during a downtrend, all you need to do is pull the Fibonacci retracement from swing high to swing low as seen in the picture below.
Very often in the market when being sideways or trending, prices always pullback to the critical Fibonacci retracement area of 38.2% – 61.8% before continuing the trend. These levels are used as a reference area by traders in determining the area of support and resistance.
By using this Fibonacci retracement, you can also take several levels that can be used as a reference area to determine entry levels. Popular levels are 38.2%, 50.0% and 61.8%. In the range of these levels often appear buy or sell signals with a fairly high level of accuracy.
In applying this Fibonacci retracement, most traders make mistakes in determining the swing high and swing low.
Therefore, observant observations and exercises to sharpen our sharpness to recognize swing highs and swing lows are needed.
EA Transcend Fibonacci PRO was created also with the aim to make it easier for traders to analyze the market using Fibonacci retracement automatically, both when looking for a moment to open a position and when opening a position.
Transcend Fibonacici PRO Settings:
Transcend Fibonacci PRO Results :
BT last 1 month test on gbpusd pairs. Balance 10k 0.1 lots modeling quality 99.9%