A Fibonacci Breakout Expert Advisor with Parabolic SAR Exits

Summary

This short description outlines an Expert Advisor built to demonstrate a trading system using a ZigZag Fibonacci indicator. The indicator places Fibonacci levels and stores their corresponding price values in buffers, allowing an expert program to retrieve those values. The entry rule is described as acting after a reverse breakout of the top level, which is intended as a simple way to filter false breakouts.

For position exits, the system uses Wilder’s parabolic stop-and-reverse method to trail price. The document explains the broad roles of the indicator data, entry trigger, and exit mechanism, but does not provide the exact order conditions, position sizing, market or timeframe, parameter settings, or handling of risk and execution. It offers no backtest, live results, or comparison showing whether the reverse-breakout filter improves performance. The material is therefore useful as a basic design concept for combining Fibonacci levels with a trailing stop, rather than as a validated trading strategy.

Key ideas

• The Expert Advisor reads Fibonacci price levels from the indicator’s data buffers.
• It enters after a reverse breakout of the upper level as a basic false-breakout filter.
• Positions are exited using Wilder’s parabolic stop-and-reverse trailing method.
• The description does not specify sizing, timeframe, parameters, or execution rules.
• No performance evidence is included.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.