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mql4metatrader4mt4mql5metatrader5

How to include Fibonacci levels in Expert Advisor (EA)?

I want to have access to various Fibonacci levels like 23.6%, 38.2%, 50%, 61.8% and 100% in my expert advisor (EA). How can I define those in my EA so that traders can select them via the inputs?

I tried this

input double Fibo=23.6;

However, is this the common approach? Is it possible to set them as predefined?

Thank you for your help!

Solution

  • You can set predefined Fibonacci levels by using enumerations. Either you use enumerations provided by MQL5 or define your own, like this:

    //+------------------------------------------------------------------+
//| Enumeration for Fibonacci levels                                 |
//+------------------------------------------------------------------+
enum ENUM_FIBO_LEVELS
  {
   fib0618 = 0618, // 61.8%
   fib1000 = 1000, // 100.0%
   fib1382 = 1382, // 138.2%
   fib1618 = 1618, // 161.8%
  };

    Note: If you place a single-line comment, it will be associated with the variable name, as shown in this example.

    input ENUM_FIBO_LEVELS FiboValue=fib1618; // Fibonacci level

    As a result, users are able to select their preferred Fibonacci level:

    Expert Advisors>Properties>Inputs

    To calculate potential support and resistance levels, convert the Fibonacci ENUM level:

    (double(FiboValue)/1000)

    If you have any further questions, please leave a comment below.