Fibonacci Trading System is an Automatic Fibonacci Indicator that is 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 signal arrow. Very easy to use and shows promising results in trading.
The Automatic Fibonacci retracement indicator is a tool that allows traders to quickly and easily identify potential trades based on various patterns. It works by analyzing the price action of a security and identifying patterns that are commonly associated with certain types of trades. This can be a huge time-saver for traders, who often have to manually scan for these patterns to make informed trading decisions.
It is particularly useful for traders who are looking to capitalize on short-term trends. By quickly identifying potential trades, traders can enter and exit positions more efficiently, potentially increasing their profits. In addition, It can help traders avoid costly mistakes by alerting them to potential trades that may not be as profitable as they initially appear.
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.
Fibonacci retracement indicator is a standalone trading indicator, But in my opinion, it’s most 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 Automatic Fibonacci Indicator
It contains two indicators,
- fibo analysis
- fibo entries
The purpose of the fibo analysis indicator is to identify potential areas of reversal in the market. The reversal zone is a potential area where the current swing may end and a new swing may begin.
The analysis method for calculating swing involves three approaches: aggressive, conservative, and manual. The aggressive method involves identifying short-term swings and taking into account more rumors and speculation. The conservative method involves identifying long-term swings and is based on less speculation. The manual method allows the trader to manually select the depth setting of the swing.
It is ideal for FOREX, CFD, FUTURES, and CRYPTO. You can also use it on any time frame that suits you best, from the 1-minutes to the 4-Hour charts. Works well on a higher TF but can be used on a lower one as well.
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Fibonacci Trading System is capable of identifying a variety of patterns, including:
- Bullish and bearish divergences: These patterns occur when the price diverges from a trend indicator, such as a moving average. Bullish divergences suggest that the price is likely to rise, while bearish divergences suggest that it is likely to fall.
- Breakouts: A breakout occurs when the price breaks through a resistance or support level. Breakouts can be bullish or bearish, depending on the direction of the move.
- Trend lines: Trend lines are used to identify the overall direction of a price. When the price breaks through a trend line, it can indicate a change in the trend.
Traders can use the Automatic Fibonacci Indicator to identify patterns and make informed trading decisions based on them. For example, if It is a bullish divergence, a trader might consider buying. On the other hand, if the Fibonacci Trading System identifies a bearish trend line breakout, the trader might consider security.
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.
THIS IS CRAP. NOT PRACTICAL. THE BACKGROUND IS OK TO USE. THE PEOPLE WHO PROGRAMMED THAT HAVE NO IDEA OF TRADING FOREX AND HOW THIS MUST BE DONE TO BE USEFUL. YOU SHOULD DO THE WORK ON YOUR OWN…