Delta Fibonacci Retracement

Fibonacci Retracement Auto Plotter

 

 

Installation: Open your MT4, scroll up to File>Open Data Folder>MQL4>Indicators and paste the EX4 file(s) there. Restart MT4.

 

How It Works (Brief)

You will be able to download a more in detailed PDF user guide on how to use Fibonacci Retracement effectively, but a short summary is explained on this page. The principle of using Fibs is actually very simple and in this case, what makes this indicator even simpler, is that it will automatically plot the fib tool on the chart without you having to adjust it yourself. It will also help you determine if you should be going short or if you should be going long.

 

As you see the Fibonacci Retracement tool on your chart, you will also see the percentage numbers on each line, for example: 0.00, 23.6, 50.00 etc. When price hits 61.8, that is the perfect time to enter a buy or sell trade.

Here is our special easy was to identify if you have to sell at the 61.8% level or buy at the 61.8% using Fibonacci Retracement..

 

Since the 100.0 level is at the top, means that according to Fibs, the market is coming from the bottom to the top and you should look to SELL when market touches the 61.8%. As you can see in the picture below, the 100.0 is the top line, so we are waiting to enter a Sell trade when market hits the 61.8.

 

Since the 100.0 level is at the top, means that according to Fibs, the market is coming from the top to the bottom and you should look to BUY when market touches the 61.8%. As you can see in the picture below, the 100.0 is the bottom line, so we are waiting to enter a Buy trade when market hits the 61.8.

 

Click Here To Download Indicator

Click Here To Download The FULL DETAILED Tutorial

 

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