Free Automatic Fibonacci Retracement Indicator for Metatrader 4



Automatic Fibonacci Indicator for MT4



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Automatic Fibonacci Retracement Indicator

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Fibonacci Retracements are a very popular technical analysis approach to studying price action in the forex markets. Based on the Fibonacci sequence by Italian mathematician Leonardo Fibonacci. The main theory behind Fibonacci Retracements is that prices often retrace their steps after a large move in one direction. The Fibonacci ratios are then used by traders as key trading levels of the price retracement.



Some Common Fibonacci Retracement Trading Uses Include:

  • Support & Resistance Levels
  • Stop Loss & Take Profit Levels
  • Price Reversal Areas
  • Swing High & Low Levels


The standard Fibonacci Retracement indicator in the Metatrader 4 platform is static. Traders have to determine the trend, draw the indicator and update the chart when trends change. This indicator was designed to do all that for you automatically – Automatic trend determination, plotted Fibonacci levels and updated retracements when there is new high or low levels of price action.








 

* Indicator works with Metatrader 4 Platforms only
* Indicator is copyrighted material and can not be distributed without express written consent.







Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.