Advanced Fibo Levels as the name implies uses the Fibonacci method for successful results. As per the author, the system has undergone stress tests over a long period and has shown a good profit to drawdown ratio.
The developer Ho Tuan Thang is based in Vietnam and has created 7 products and 4 signals. As per the MQL5 profile, the author does not have experience in developing FX products. A website address is provided by the developer. Other than the messaging option on the MQL5 site there are no other support methods available.
Adequate support is one of the important deciding factors while choosing a reliable EA. There are other factors like performance, strategy, and more. It is a very difficult and overwhelming task to analyze each product. Luckily, we have made your task easier with our list of the best FX robot. Have a look at our list and choose one without any hassle.
Advanced Fibo Levels overview
After perusing the features, recommendations, and other aspects of this FX robot, here is a list of things we found the developer focuses on:
- The EA is available in MT4 and MT5 versions.
- It uses the Advanced Fibo levels indicator for making an entry.
- The main currency pairs it works on are the EURUSD, XAUUSD, BTCUSD, and GBPUSD.
- A timeframe of M15 is recommended for using this EA.
- It has been tested since 2016.
- A minimum of $150 is required as a deposit for using this ATS.
- It is not sensitive to broker conditions like slippage and spread.
- The FX robot can work with any broker.
Besides the settings recommendations and a few words on the EA, the author provides parameters used for the EA. These include the initial volume, volume multiplier, maximum volume, TP, SL, Grid net Step, and more. The author mentions that set files with all the default settings used by the author will be sent to the user on purchase.
To buy this FX EA you need to pay $99. The developer offers a free demo account. There is no other info on the features that come with the package. We could not find a money-back guarantee for the package which makes us suspicious of the reliability of the system. When compared to the market average, we find the price is very affordable. However, the developer mentions that only 4 copies are left at this price and further copies will be sold at $149.
How it works
There is no info on how the FX robot works other than the mention of the use of the Fibonacci method that is completely automated. For accurate entries, the robot uses the proprietary indicator, according to the developer.
The Fibonacci strategy is used by this ATS. There is no explanation of how the method is used for accurate trades and high returns. We find the explanation provided is vague. The lack of info on the approach raises a red flag for this EA.
A long-term live trading result for this FX EA is present on the MQL5 site. Here is a screenshot of the live trading done using Weltrade broker and the leverage of 1:500.
From the above stats, we can see the EA has generated a growth of 27.46%. For a deposit of $1000, the profit generated is $274.61. The account was started in December 2021 and has completed a total of 141 trades. Profitability of 70.21% and a profit factor of 2.37 are present for the account. A drawdown of 40.7% is present. The high drawdown indicates the strategy used is of high risk. While the growth is steady, the low profit factor indicates a below-average performance. Further, the sample size is very small which makes it difficult to evaluate the performance.
Unfortunately, we cannot find user reviews for this FX robot on trusted third-party sites like FPA, Trustpilot, etc.