This is the best and most advanced Forex Fibonacci trading indicator for Metatrader 4 I have ever seen.
This indicator draws all Fibonacci retracements (0.0, 0.382, 0.5, 0.618, 1.0) + custom levels, Arc and Fan, expansion levels and time zones.
Buy signal: In an up trending market, look to go long near the 0.382 retracement level (buy on dips).
Use the Fibonacci expansion levels to determine possible profit targets for your long trade or use your own profit objective method.
Sell signal: In an down trending market, look to go short near the 0.382 retracement level (sell on rallies).
Use the Fibonacci expansion levels to determine possible profit targets for your short trade or use your own profit objective method.
The Spud Fibonacci indicator is another great Metatrader 4 indicator that can help you to pinpoint exact entry levels in trending markets.
Currency pairs: any
Time frames: any
Trading sessions: any
Configurable Indicator Options
Fibonacci Arc levels, Fibonacci retracement levels, Fibonacci expansion levels, Zig zag settings, Fibonacci Fan levels, colors,…
EUR/USD M5 Chart Example
How to install the Best Fibonacci custom indicator in Metatrader 4?
- Download the ifibonacci.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.