Auto Fibonacci Indicator is a Fibonacci Indicator for MT4 FREE to Download. This indicator is obviously based on the Fibonacci levels. It automatically determines the market entry point and puts the target for take profit and Stop Loss. The indicator is equipped with a sound signal and an arrow. Very easy to use and shows promising results in trading.
This Fibonacci Indicator is primarily manual. It does produce standalone signals, but I don’t recommend using them only. Any decisions to enter the market and to set protection stops or profitable exit stops will depend on the trader. Therefore, the trader must be familiar with the principles of risk and reward and use initial support and resistance areas to set entries and exits.
Auto Fibo Phenomenon indicator is a standalone trading indicator, But it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live. You can open a real or demo trading account with most MT4 Forex brokers.
Main Chart of this Auto Fibonacci Indicator
You can set the AutoFibo Indicator to send you a signal alert via Mobile Notification, platform pop-ups, and Email. This is helpful as it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.
This Automatic Fibonacci Indicator can be used on any Forex currency pair and other assets such as commodities, Cryptos, Binary Options, Stock markets, Indices, etc. You can also use it on any time frame that suits you best, from the 1-minutes to the 4-Hour charts.
Follow money management & Don’t enter to trade within the high-impact news period. Exit from your trades half & an hour from the high-impact forex news.
As always, to achieve good results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.
Auto Fibo indicator gives an average of 1-2 signals on one pair per day. By applying the indicator on a few major currency pairs, you can receive a decent amount of signals a day.