Advanced Fibo Levels is a fully automated Forex trading tool that is built to trade on a Fibonacci strategy. It requires a minimum deposit of $150 while working on the M15 timeframe chart. The algorithm system supports multiple currencies such as EURUSD, GBPUSD, XAUUSD, BTCUSD, etc., and is not sensitive to slippage and spread. To get a better idea about robot’s performance, efficiency, and reliability, we will go through its history records, features, working strategy, and customer feedback.
Advanced Fibo Levels robot review
The algorithm was published in July 2021, as seen on the MQL5 website, and comes with updates and customer support. It can trade with any broker, and users can get access to the best set file via the developer.
What is behind the Advanced Fibo Levels robot?
Ho Tuan Thang from Viet Nam is a professional developer, programmer, and the author of the Advanced Fibo Levels robot. The author has multiple robots on MQL5 marketplace, such as Advanced Gold Trading, Advance Gold Breakout, etc. The vendor has a rating of 4.9 based on 196 reviews and has no experience, as seen on the MQL5.com website.
How it works
The user must follow the following steps to follow to set up the algorithm:
- Select the needed offer
- Click on the purchase now option
- Buy the product
- Login into your MetaTrader 4 or MetaTrader 5 platform using credentials
- Bring the robot to the expert directory and refresh the tab
- Connect the robot to the chart, and all set
The robot has the following key characteristics:
- The robot comes with updates and customer support.
- It trades on MT4 and MT5 platforms.
- The algorithm supports multiple symbols.
- Traders can try out free demos as available on the website.
Advanced Fibo Levels trades using Fibonacci Intervals on multiple currencies. Other than this there is no information present on the strategy which is a poor practice. Unfortunately, there are no live records available on the website that we could use to verify the game plan for ourselves.
The vendor has revealed no information on backtesting records, making it hard for us to know about algorithm previous trades. The lack of statistical information on the robot performance on historical data makes it risky and unreliable for long-term investment.
The price of the algorithm is $199 and is on sale. Users must register at the website and select the needed product to get to the payment option.
Trading performance of Advanced Fibo Levels
The algorithm has no live records on Myfxbook; however, the vendor provides the live results in a picture on the website. The noted approach is quite unprofessional in the forex market. From the stats, we observed the robot started with an initial deposit of $900, which resulted in a $9878.04 profit. It participated in 767 long trades and 1020 short trades, where its recovery factor stood at 6.97. The average profit and loss are $15.10 and -$11.18 respectively and had a profit factor of 2.36.
There is no detailed information on customer support is provided by the developer on the website.
The product has a rating of 4.78 based on nine reviews on the MQL5 website. One of the traders’ comments the EA is legitimate and risky to handle due to its endless grip. Users must remain updated with their trades to protect themselves from losing money.