Indicators for MT4
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Fibonacci Trend indicator for the MT4 chart uses a complex swing trading strategy.
It consists of 5 indicators which includes Fibonacci trend, fibonacci scalper, Elliot, Fibonacci indicator, and MACD Scalper.
Buying and selling rules – Fibonacci Trend MT4 indicators:
Fibonacci Trend indicator – It analyzes as a buy and sell signal.
Fibonacci trend power – It indicates the next two higher frames as bullish, which means the major trend is bullish.
Also, if the next two higher frames are bearish, it suggests the major trend as bearish.
Elliot + Fibonacci indicator – It helps to draw a bullish trendline. And, the price will move above the bullish trendline. Besides, it draws green color Fibonacci levels.
This indicator draws a bearish trendline for sell, and the price will move below the bearish trendline. And the Fibonacci levels are red.
Fibonacci Scalper – It generates a blue box while giving a buying signal. As well, it will generate the red box for the selling signal.
If all the above conditions are met, and the price is below 50 Fibonacci, you can buy the order. Use your own stop loss and exit to trade.
However, for selling, the price should be above 50- Fibonacci levels.
Below is the Screenshot of the Fibonacci Trend Level MT4 indicator for the MT4 Chart.
Finally, this MT4 data feed indicator is a bit complex to use. This indicator is well suitable for intermediate or advanced traders. And, it helps the traders to know how the market moves towards the trend.