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Automated Fibonacci Indicator Forex System (MT4)

    The Automated Fibonacci indicator for MT4 is a complete Forex system that provides the entry, stop loss and take profit target.

    The indicator is solely based on Fibonacci levels and looks for optimal entry points that might occur in both up and downtrending markets.

    It appears in the main chart and paints all buy and sell signals on the chart.

    In order to make it even more easy, all signals will appear in the left part of the screen in the colored rectangle.

    Trade Logic

    • In an uptrend, it will wait for the optimal retracement level (buy on dips) and then signals a buy entry accompanied with stop loss and take profit target.
    • In a downtrend, it will wait for the optimal retracement level (sell on rallies) and then signals a sell entry accompanied with stop loss and take profit target.
    • Please note that the indicator also identifies trend reversal signals.

    After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.

    Key Points

    • Based on Fibonacci retracements
    • Non-repaint trading signals
    • Complete Forex system
    • Provides the entry, stop loss and take profit
    • Well worth adding to your indicator collection

    This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.

    Free Download 

    Download the “Automatic Fibonacci Indicator (zip file)” MT4 indicator

    Indicator Example Chart

    The EUR/USD 5-minute chart below shows the Fibonacci Indicator system in action.

    Basic Trading Signals

    Signals from the Automated Fibonacci Indicator Forex System for Metatrader 4 are easy to interpret and goes as follows:

    BUY:

    • Open a buy trade when the Fibonacci system signals a new buy trade.
    • Place stop loss for the buy signal as indicated by the system.
    • Set the take profit target as indicated by the system.

    SELL:

    • Open a sell trade when the Fibonacci system signals a new sell trade.
    • Place stop loss for the sell signal as indicated by the system.
    • Set the take profit target as indicated by the system.

    Download This Forex Indicator

    Download the “Automatic Fibonacci Indicator (zip file)” MT4 indicator

    Adjustable Parameters & Settings

    Analysis, depth, leg, line color, font, rectangle fill, risk money, ATR period, entry

    Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

    More Info About This Indicator

    Trading Instruments: works for any currency pair + any other trading instrument

    Trading Platform: developed for Metatrader 4 (MT4)

    Time Frames: works for any time frame

    Indicator Type: Fibonacci signals

    How to install the Automated Fibonacci Indicator Forex System in Metatrader 4?

    • Unzip the Automatic Fibonacci Indicator file
    • Copy and paste all 3 indicators in the MQL4 indicators folder
    • Copy and paste the template in the MQL4 templates folder
    • You can access the indicator folder from the top menu as follows:
    • File > Open Data Folder > MQL4 > Indicators (paste indicators here)
    • You can access the template folder from the top menu as follows:
    • File > Open Data Folder > templates (paste template here)

    How to remove the indicator from the chart?

    • Right click in the chart
    • Select indicators list
    • Click on the indicator’s name
    • Click on the delete button