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.
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