Advanced Fibo Levels, as the name suggests, uses the Fibonacci method for achieving high returns. It uses a proprietary indicator, which is available for free with the package. As per the developer, Ho Tuan Thang, the system is compatible with all brokers. You can buy this ATS for $199. According to the info on the MQL5 site, the pricing is for the first 10 copies of which only 3 are left. Subsequent copies will be sold for $249. A free demo account is present as part of the package. No other details are present on the features you get with the package. There is no refund policy, which makes us suspect the reliability of the system.
Advanced Fibo Levels trading strategy
According to the author, this MT5 tool uses the Fibonacci Levels approach and indicator. The levels are used to remove or restrict emotional bias while making trading decisions. The approach is also important in the situation where the market has reached its peak resistance or support levels. There is no further info on the approach present.
Advanced Fibo Levels features
Some of the crucial features that this FX EA has that give it an edge over its competitors are:
- It works on the EURUSD, XAUUSD, BTCUSD, and EURUSD pairs.
- A timeframe of M15 is used for the trades.
- Backtesting for the system is done from 2016.
- A minimum deposit of $150 is required to start using this FX robot.
- It is not influenced by changes in the spread, slippage, etc.
Advanced Fibo Levels backtesting results
There are no backtests present for this FX robot. Strategy tester reports are important as they help you understand the approach used and its efficacy. Developers and vendors promoting the FX tools warn that the tests are not predictive of future performance. The reason is that they use historical data for the testing. Although they are based on historical data, they provide info on the strategy that newbie and seasoned traders find useful. The lack of backtesting makes us suspect the reliability of the FX EA.
Advanced Fibo Levels live trading results
A live signal is present for this system on the MQL5 site. Here is a screenshot of the trading stats.
From the above stats, we can see a growth of 13% is present for the EA. For a deposit of $500, the account that started on 25th January 2022 has completed 29 trades. A maximum drawdown of 10.9% is present. Profitability of 68.96% and a profit factor of 3.96 are present for the account. From the results, it is clear that the FX robot uses a low-risk approach. The profit factor is high indicating a decent performance. But we can see that the sample size is too small to analyze the system properly. Further, a small sample can result in the results being random.
Advanced Fibo Levels reputation
The developer, Ho Tuan Thang, is based in Vietnam. He has created 7 products and 8 signals. As per his MQL5 profile, he does not have previous experience in developing FX tools. To contact the author, you can use the Telegram channel link present on his MQL5 profile page or use the messaging option of the site. His other FX robots include Advanced Gold Trading, Advanced Hedge, and Advanced Bollinger.
We found 6 reviews for this FX EA on the MQL5 site with a rating of 4.67/5. Here are a few of the recent testimonials from users.
From the above feedback, we can see that the users are happy with the support and performance. However, since the MQL5 site promotes the product, we cannot consider the feedback as there is a high chance of the reviews being manipulated. We prefer feedback from reputed third-party sites like Forexpeacearmy, Trustpilot, etc. as they provide an unbiased view of the product.
Advanced Fibo Levels review summary
- Strategy – 4/10
- Functionality & Features – 4/10
- Trading Results – 4/10
- Reliability – 4/10
- Pricing – 5/10
Advanced Fibo Levels assures a completely automated software that uses the Fibonacci method and indicator for high returns. Our evaluation of the system reveals that the developer does not provide much info on the approach or the performance of the FX EA. While he provides live signal stats, the sample size is very small making it difficult to evaluate the performance. Further, the lack of backtesting results also makes understanding the strategy difficult. When compared to the market average the pricing looks affordable. But the lack of a refund policy makes us suspect the dependability of the package.
