Channel Fibo indicator mq4

Channel Fibo indicator mq4 is a Dynamic channel, which is calculated based on the maximum distance between the price and MA It builds a channel from the Fibo levels on the basis of the piece of furniture, reaching one of the borders of which we can count on a rollback or a reversal. I would recommend getting touches from a minimum of 38.2. I noticed that the level of 23.6 doesn't work so well. Of course, even aggressive traders can use this level, here nobody gives you special restrictions and can't give them! Our main topic is about levels, so profitable forex breakdown strategies are very much on the subject! Personally, I noticed that the most common reversal derives from the level of 61.8. Undoubtedly, according to Fibonacci, this is the strongest sign, which is very likely to be able to expand the level.

Of course, you must understand that we still have no guarantee that even such a strong level will be able to slow down price movements. But here we are operating with statistics that say that the price is more likely to rebound on the level rather than break it. Again, we definitely need some kind of filter in this case, because only a touch of the price is far from the fact that there will now be an inversion from this level.

Channel fibo indicator MTF mq4 has the same features as the previous one only in the multi time frame version.

Setting indicator Channel Fibo indicator mq4 :

Time Frame choice in MTF inicator

depth extremum search 78;

MA period 10, ma simple, close.

Fibolevel 1 23%;

Fibolevel 1 38%;

Fibolevel 1 50%;

Fibolevel 1 68%;

Unzip the Channel fibo indicator.zip.

The indicator file is: Channel fibo indicator (for 5 digits broker);

Step 1: Copy the indicator file EX4 into your /experts/indicators/ folder.

This folder is a folder of the MetaTrader trading platform.

Examples:

If you are using the FX Pro MetaTrader broker, the folder will be at

C:\Program Files\MetaTrader – FX Pro\experts\indicators

If you are using the XM broker, the folder will be at

C:\Program Files\XM– MetaTrader 4\experts\indicators\

Step 2: Open the MetaTrader platform, and click on View -> Navigator.

You can also click on CTRL+N.

Click on 'Navigator'

Step 3: A window titled 'Navigator' should appear. Click on Custom Indicators.

The Navigator

Step 4: You should see the Channel fibo indicator in the Custom Indicators folder. Double click on the Channel fibo indicator and click OK to load it onto your chart.

In the pictures Channel Fibo indicator mq4 and Channel Fibo MTF indicator mq4.