Fibo 01 indicator mq4

Fibo 01 is a metatrader 4 indicator based on Fibonacci ratios that generates simple buying and selling signals. The signal consists of an entry level, stop loss and two profit levels (moderate, aggressive and high aggressive). These signals have good profitability.

How is Fibo 01 used?

Time Frame 15 o 30 min, thi is a day trading strategy.

Currency pairs major and minor.

It is used in the direction of the trend because it seems to have a higher profitability, so I added a high / low channel based on the simple moving average of 50 periods to define the trend.

If the price is above the channel, only buy.

If the price is below the channel, just sell.

You enter a pending order on the entry level if the signal agrees with the trend and you add the stop loss and a take profit on the indicated levels. I note that as a profit the Stop Loss / Profit ratio of 1/1 can also be entered, and, profitability is greater.

Download Fibo 01 indicator and template.zip

Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /

Copy tpl file (Template) to your Metatrader Directory / templates /

Start or restart your Metatrader Client

Select Chart and Timeframe where you want to test your forex system

Right click on your trading chart and hover on “Template”

Move right to select Fibo 01 indicator and template.

You will see Fibo 01 indicator and template on your Chart.