QuickFib Metatrader 4 Indicator
QuickFib (Fibonacci) plots Fibonacci retracement levels on the MT4 charts. It automatically calculates the 23.6%, 38.2%, 50.00% and 61.2% level for any currency move. This is an awesome indicator if you like to buy dips in an uptrend or sell rallies in an downtrend.
BUY: In uptrends: Wait for the pair to fall back to the 38.2% level. Look here to buy.
SELL: In downtrends: Wait for the pair to rally back to the 38.2% level. Look here to sell.
Use in conjunction with other trading tools to pin-point you entries. Take a look at the EUR/JPY pictue below. You would be looking for buy signals around the 115.60 level (38.2%).
EUR/JPY Daily Chart Example