Hey there, fellow traders! If you're looking to elevate your trading game, the latest version of Elite eFibo Trader has some exciting updates that you won't want to miss.
This new iteration is packed with enhanced trend detection signals that utilize popular indicators like RSI and Moving Averages (MA). Once the trend is spotted, eFibo takes the reins and enters orders based on a Fibonacci sequence, which you can customize to fit your strategy.
What's New in Version 2.6?
With this version, we’ve added a Moving Average Cross Logic that determines whether the EA should buy or sell. Here’s a quick rundown of the new features:
- Parameter 1: MA On/Off - This toggle lets you activate or deactivate the module. If it’s off, the module is inactive; if on, it overrides the settings for Open_Buy and Open_Sell based on the following logic:
- Parameter 2: MA1-Slow - Default is set to 65
- Parameter 3: MA2-Fast - Default is set to 15
Here's how it works: If MA2 crosses under MA1 (meaning it dips below and then rises above), it's time to buy and kick off the eFibo LONG algorithm. If the lines reverse and MA2 crosses over MA1 during this trade, here's what happens:
- If you're in the green overall on all trades, close out the positions and wait for the next cross to reset.
- If you're in the red, a 15 pip trailing stop will kick in.
Similarly, if MA2 crosses over MA1 (starting above and dipping below), it's time to sell and initiate the eFibo SHORT algorithm. If the lines reverse, the same rules apply:
- Close all positions for a profit and wait for the next cross to reset.
- If you're facing losses, the 15 pip trailing stop will be activated.
Additional Features
- Parameter 4: RSI Filter On/Off - If this is off, the module is inactive. If on, it prevents new long trades when RSI exceeds the RSI High and halts new short trades if RSI drops below 30.
- Parameter 5: RSI Period - Default is 14
- Parameter 6: RSI High - Default is set at 70
- Parameter 7: RSI Low - Default is set at 30
- Parameter 8: Trailing Level - Default is 15 pips
With these updates, Elite eFibo Trader 2.6 is all set to help you take your trading strategies to the next level. Happy trading!
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