Then select your indicator and click “Edit”. Note: To adjust your indicator settings once the indicator has been added to your chart, right-click and go to “Indicators List” (or hit Ctrl+I). On a few occasions, it was necessary to increase the value to 30 or even 40 in order for the measurements to be done off of the correct highs and lows. However, the thing that really separates this indicator from the others is the ability to adjust the look back period.Ģ4 is the default “lookback” value (in candlesticks/bars), which I found to be pretty accurate most of the time. It also displays the price of each respective level.Īs you can see from the example, this indicator obviously has a simple, clean design. This indicator displays the Fibonacci retracement and extension of the most recent swing in price. In the image below, you can see an example of it in action. Like its name suggests, this indicator is simple but it’s accurate. The indicator that I found is called the KISS Auto Fib. An Accurate Auto Fibonacci Indicator for MT4 In fact, if you don’t mind making a small adjustment to the indicator from time to time, it can be 100% accurate. However, after much searching, I finally found an auto Fibonacci indicator for MT4 that works most of the time. They do not usually choose the correct highs and lows for drawing the retracements or extensions. The reason I prefer the default tool is that most auto Fibonacci indicators for MT4 are not accurate. I personally prefer to use the manual Fibonacci retracement tool in MT4.
I recently wrote an article about how to use Fibonacci retracement and extension levels. Do you use Fibonacci ratios in your technical analysis? Are you looking for an accurate auto Fibonacci indicator for MetaTrader 4 (MT4)? If so, this article is for you.
0 kommentar(er)
