The VegaXLR Fibonacci Trading cBot for cTrader automates position entries based on user-drawn Fibonacci retracement and expansion levels. It functions as an advanced pending orders system, calculating optimal lot sizes according to specified risk parameters. Users can select from three risk management types: fixed lot size, monetary amount risk per trade, or a percentage of account balance. The cBot supports both Fibonacci Retracement and Expansion tools to identify entry points and offers versatile position types, including continuation and reversal trades.
Safety features include backup stop loss and take profit settings, plus control over entries at gapped price levels. Visual enhancements extend Fibonacci lines infinitely across charts and provide a deal map showing positions opened by the cBot. Dynamic take profit placement allows setting targets at preferred Fibonacci levels or automatically between Fibonacci start and entry prices.
Real-time alerts are available via Telegram, email, and sound, with the option to send chart screenshots to Telegram. Despite its advanced functionality, the cBot is designed for ease of use with a straightforward setup and includes an in-chart user guide accessible via a button. Users must manually draw Fibonacci objects, as the cBot does not create them automatically.