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Support & Resistance Fibonacci Retracement Metatrader 4 Indicator

The support & resistance Forex indicator for MT4 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.

What to look for?

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

How to install the Support & Resistance Fibonacci Retracement custom indicator in Metatrader 4?

  • Download the support and resistance- Ac.ex4 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.