MetaTrader Scripts Description & FREE Downloads
Simplify and automate your trading with our free Metatrader platform scripts. These scripts are designed to streamline your trading processes, saving you time and effort. Download the most efficient trading scripts for free and start automating your trades today!
This is simple script which opens positions according to a Fibonacci Retracement object. OpenFiboOrder script has just one input variable  number of lots. The script searches for the latest Fibonacci Retracement object. Order open level is set to 1 pip over 100 fibonacci level for buy order and 1 pip under 100 fibonacci level for sell order. SL level is fixed on 0 fibonacci level. Then the script gets the first fibonacci level over 100 and sets in this place TP, so it is possible to change TP range by modification of the Fibonacci Retracement object. OpenFiboOrder calculates proper levels taking into consideration a difference between ask and bid price (spread). Just before placing order the script checks whether SL, TP and order open levels are not too close. If any error occurs, the script displays message.
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Risk
Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.
