ZigZag Fibo EA MT4
Free ZigZag trend + Fibonacci grid EA | MT4 | mql5.com
About ZigZag Fibo EA MT4
ZigZag Fibo EA for MetaTrader 4 is a free Expert Advisor that determines the current market trend direction using the ZigZag indicator and then superimposes a Fibonacci grid in the direction of that trend to identify optimal trade entry zones. The EA places limit orders at specified Fibonacci retracement levels, targeting pullbacks within the established ZigZag trend structure. This allows it to enter with the trend at better-than-market prices rather than chasing breakouts, improving average entry quality. The strategy combines classical ZigZag trend analysis with Fibonacci retracement entry logic.
- Platform: MetaTrader 4
- Price: Free (MQL5 Market)
- Trend detection: ZigZag indicator
- Entry method: Fibonacci grid limit orders at retracement levels
- Order type: Limit orders — enters on Fibonacci pullback
- Source: mql5.com/en/market/product/113060
Key Features
✓ Completely free — available on the MQL5 Market
✓ ZigZag trend detection filters counter-trend entries
✓ Fibonacci limit orders enter at pullback levels — better average entry than market orders
✓ Combines two proven classical analysis tools: ZigZag + Fibonacci retracement
⚠ Grid of limit orders means multiple positions can open — manage total position size carefully
⚠ ZigZag redraws on live bars — the EA uses confirmed ZigZag pivot points, not live-bar values