SanVel "Fib861" Utility Robot

watch youtube video with details

Fib861 Utility  will place 1,2 or 3 Limit orders when you draw AND name horizontal lines (name it as BUY or SELL) - You need to manually enter each level (TP,SL, TP)  for each pair.


I use it on a Daily Chart for 88.6 Fibonacci level and for 61.8 Fibonacci and based on my Fib Rules which are explained in my Website.

Example for 88.6 Fib Rule for Buy Orders:

I use it on a Daily chart when setting up all 15 pairs - this is for set-and-forget long term trading!

* 1st order opens @ 88.6 Fib -> (here, draw horizontal line in MT4 chart & Name it as SELL -> this will place 3 Limit Orders to SELL);

  • Enter Price for TP @ 79 Fib (here, enter Price in the Utility settings under "TP 1ST BUY Order")

  • Enter Price for SL @ 106 Fib (here, enter Price in the Utility settings under "SL FOR ALL 3 ORDERS"-> this places SL for all 3 orders))


*  2nd order opens at 88.6 level, initial SL=106 Fib, WHEN 1st order is closed at 79 Fib, it will  move SL for 2nd and 3rd order to 88 Fib, and close 2nd order in profit at 63 Fib level or close at SL

  • Enter Price for TP @ 63Fib (here, enter Price in the Utility settings under "TP 2ND BUY Order")

* 3rd order opens at 88.6 FiB, SL=106 Fib, WHEN 2nd order is closed at 79 FIb, it will move SL for 3rd order to 78 Fib, and close 3rd order in profit at 38.2 Fib or close at SL

  • Enter Price for TP @ 38.2 Fib (here, enter Price in the Utility settings under "TP 3RD BUY Order")


ORDER DIRECTION:
2. Limit Order to BUY has to be below the Price
3. Limit Order to SELL has to be above the Price

TIME FRAME: 
Monthly, Weekly, Daily, H4, H1, 30 MIN, 15 MIN, 5 MIN, 1 MIN

 

Example for 88.6 Fib Rule for SELL Orders:

* 1st order opens @ 88.6 Fib -> (here, you draw horizontal line and Name it as SELL -> this will place 3 Limit Orders to SELL);

  • Enter Price for TP @ 79 Fib (here, you enter Price in the Utility settings under "TP 1ST BUY Order")

  • Enter Price for SL @ 106 Fib (here, you enter Price in the Utility settings under "SL FOR ALL 3 ORDERS")


*  2nd order opens at 88.6 level, initial SL=106 Fib, WHEN 1st order is closed at 79 Fib, it will move SL for 2nd & 3rd order to 88 Fib, and close 2nd order in profit at 63 Fib level or close at SL

  • Enter Price for TP @ 63Fib (here, you enter Price in the Utility settings under "TP 2ND BUY Order")

* 3rd order opens at 88.6 FiB, SL=106 Fib, WHEN 2nd order is closed at 79 FIb, it will move SL for 3rd order to 78 Fib, and close 3rd order in profit at 38.2 Fib

  • Enter Price for TP @ 38.2 Fib (here, you enter Price in the Utility settings under "TP 3RD BUY Order")

In case you need to understand what is Limit Buy order and Limit Sell Order, there is a great explanation on youtube:    https://www.youtube.com/watch?v=BtSJcSJQBkU

SanVel "Fib861 Utility"

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