Advanced Fibo Levels uses the Fibonacci system for executing successful trades. The expert advisor is fully automated. As per the developer, it has been backtested and found stable from 2016 to 2019 and live trading results are also good with different brokers. From the real trading results we find the system uses a risky approach and while the price is not very expensive, it does not have a money-back guarantee.
What is Advanced Fibo Levels?
Some of the key features of this FX EA that the author focuses on are:
- It works on the EURUSD, BTCUSD, GBPUSD, and XAUUSD pairs mainly.
- The ATS uses the M15 timeframe.
- It can work with any broker.
- A minimum deposit of $150 is required for using the EA.
- It is not sensitive to slippage and spread conditions.
Official Advanced Fibo Levels website
The MQL5 site promotes this FX EA. There is limited info present for the products on the site. Other than the basic details about the currency pairs, deposit, and timeframe the developer does not reveal info about the product. Ho Tuan Thang is the developer of this FX robot. He has been developing expert advisors for Forex since 2008. The author has created 11 products and 21 signals. His other products are Advanced supply demand, advanced gold trading, advanced gold scalper, and more. He is based in Vietnam. For support, he provides a website link and links to his Telegram channel.
How can we use Advanced Fibo Levels?
As mentioned before there is minimal info on the working method of the FX robot. Other than mentioning that it is based on the Fibonacci principle, the author does not divulge info on how the MT5 tool works.
Pricing & refund
The current pricing of the package is $199. However, the author mentions that only 3 copies are available at this rate and after they are sold, the price of the product will be $249. A demo account is present. No info is present on the features included with the package. We could not find a money-back guarantee which makes us suspect the dependability of the product. When compared with the price of competitor packages in the market, we find the price is expensive.
This FX robot uses the Fibonacci approach which involves the use of the golden ratio to decide the entries and exits. The method is controversial as the ratio used does not correspond well with the individual trade. As per the developer, the ATS uses a proprietary indicator for entries. The indicator is provided with the package for free. We could not find further explanation of the product. No backtesting reports are present. Although the author mentions that the strategy has been backtested from 2016 to 2021, he does not provide the strategy tester report. Hence, we are unable to get a better insight into the strategy and its efficacy.
A live signal is provided by the author on the MQL5 site for the FX EA. Here is a screenshot of the stats:
From the above stats, we can see the live USD account shows 65.47% growth. It uses the leverage of 1:500. A total of 259 trades have been executed for the account that started on January 25, 2022. The drawdown for the account is 31.7%. For a deposit of $500, the profitability is 70.3% and the profit factor is 2.31. Monthly growth of 12.22% is present. From the results, we can see that the profit is not high and the drawdown is high indicating a risky approach and below-average performance. Further, the sample size is small for the results to be of significance.
What do customers say about Advanced Fibo Levels?
Unfortunately, we could not find user reviews for the FX EA on trusted review sites like Forexpeacearmy, Trustpilot, etc.
Summary: is Advanced Fibo Levels a trustworthy EA?Advanced Fibo Levels
Trading Results2/5 Bad
- A fully automated software
- Is not sensitive to spread and slippage
- Small sample size
- No refund offer
- Pricing is expensive