Auto Fibonacci indicator for Meta Trader 4 is trend and entry indicator which is suitable for all major Forex pairs. The preferred timeframe will be M5 or higher. Also, it generates enough valid entries per pair per day. Auto Fibonacci indicator chart, Currency pair: AUDUSD, Timeframe: M30 (click to view)
Using Auto Fibonacci indicator
This indicator can be used in any currency pairs and on any time frame, but preferably on higher time frames. Moreover, it’s relatively easy to trade with Auto Fibonacci indicator. Buy Scalp trade 3 box check, Superscalper 5 blue line, Market watch green bar. Sell Scalp trade 3 box check, Superscalper 5 red line.
Settings and Input Parameters
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many because parameters are grouped into self-explanatory blocks. Indicator Settings The amplitude represents the size of the patterns. The max. history bars parameter is a number of bars in the chart to look back. Fewer bars to evaluate means the indicator will load faster. Patterns Choose the colors of the patterns. Breakouts The indicator implements breakouts to make trading easier. Moreover, you can select the breakout period (in bars) and the color of the arrows to be displayed in the chart. Alerts Enable or disable alerts at will.
Download Auto Fibonacci indicator
You can download Auto Fibonacci indicator for free by clicking the “Download” button located at the top right corner.
Create your custom indicator
If you would like to create your own custom indicator, please contact AtoZ team. Also, don’t miss out on various other indicators you can find here.
How do you install an indicator on MT4?
In order to install this indicator on your MT4, you need to: 1. Click on “Download” button above to download Auto Fibonacci indicator; 2. Save the file to your computer; 3. Extract and move the .ex4 file into: \MQL4\Indicators; 4. Restart your Metatrader platform; 5. Click “Indicators” button in Metatrader toolbar; 6. Select “Custom”; 7. Search and select “Auto Fibonacci indicator; 8. Adjust settings or press OK to add the indicator to your selected chart; Note: Auto Fibonacci indicator, developed by Micheal and sent by an AtoZForex follower from Munich, Alfred. AtoZForex does not carry any copyrights over this trading tool.