MACFibo EA v1.1

The EA on MACFibo trading strategy (by sufiansaid) is finally available. The code is available now on mql4 website, link here. Its updated/latest indicator is here. Babypips forum for discussion is here.

NOTE: Its work-in-progress code and trade on real account at your own risk. Neither me nor the creator of this system assumes any responsibilities for loss by the system or this EA.

Below a little bit description of the EA.

SHORT SIGNAL:
When 5EMA crosses 20SMA down, draw 2 points as below:
POINT A; Candle close price that confirmed the downside crossover
POINT B: highest price of the current wave prior to the crossover,
TP: Minimum of 161.8 fibo level or yesterday's high. The current code has a minimum TP of 10pips.
SL: 38.2 fibo level. Current code has maximum SL of 50 pips.


Long SIGNAL: Opposite of above for BUY trade

Exit mechanism for losing trades, if SL yet to hit: if 5EMA cross 8SMA in direction opposite of your open trade.

Below are results of 2 test on EURUSD H1. I didn't tried on H4 as trades opportunities are very few o higher time-frames. In backtest since Jan-12, its really good. Below equity graph.

 

But in back-test since Jan-11, its hardly breakeven. Below one.