Support & Resistance Fibonacci Retracement Metatrader 4 Indicator

This forex indicator identifies key support and resistance levels but also minor S&R levels and important fibonacci retracement levels. You can use support and resistance levels to trade reversals or break-outs and fib retracements to buy dips in uptrends and sell rallies in downtrends.

In uptrends, traders look to buy near the 38.2% Fibonacci Retracement level (buy on dips). In downtrends, traders look to sell near the 38.2% Fibonacci Retracement level (sell on rallies).

Trading Signals

Uptrends: Look to go long at support levels in uptrends (buy dips). Buy breaks above resistance levels. Buy near the 38.2% fib level.

Downtrends: Look to go short at resistance levels in downtrends (sell rallies). Sell breaks below support levels. Sell near the 38.2% fib level.

Indicator Preferences

Currency pairs: any

Preferred Time frames: any

Sessions: any

Download

Download the support and resistance- Ac.ex4 indicator.

Configurable Indicator Options

Color,…

EUR/USD M15 Chart Example

support-resistance-fibonacci-metatrader4-indicator

Share Now!