KT Auto Fibo
Auto Fibonacci Indicator MT4 | MT5
Tired of drawing Fibonacci levels manually? Download our Auto Fibo indicator and save your precious time.
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KT Auto Fibonacci indicator draws Fibonacci retracement levels based on the ongoing trend direction. The Highs and Lows are automatically selected using the Maximum and Minimum points available on the chart. You can zoom in/out and scroll to adjust the Fibonacci levels accordingly.
Using the default Fibonacci tool in Metatrader can be very confusing, that's why we created a custom indicator which draws Fibonacci levels on your chart automatically without any hassle. Good news is that it's 100% Free. Download your copy today.
- Auto: Indicator will draw the Fibonacci levels automatically based on the chart area.
- Manual: Indicator will draw the Fibonacci levels only one time. After that, you can change the anchor points manually.
- Helps to predict the future profit targets logically.
- Strong reversal possibility when combined with support/resistance or trend lines.
- Provides a low-risk entry in the trending market.
- Auto: Indicator draws the Fibonacci retracement levels without any human intervention.
- Manual: Indicator draws the Fibonacci retracement levels only one time. After that, you can stretch the anchor points manually.
- Show Unretraced area: Show/Hide the area on chart that is still untouched by the price retracement.
- Rest of the inputs are self-explanatory.
Significance of Fibonacci in Forex Trading
Have you heard about the Fibonacci series being used in Forex Trading? A series going on as 0,1,1,2,3,5,8,13,21 etc may look simple enough but has a great significance. But if we have a look to currency trading the Fibonacci ratios tell a different story i.e. .236, .618, .50 etc.
Have you ever cared to assess the nature of the Fibonacci charts? A closer look to them and you shall notice the strange similarity. The varying peaks in the charts follow the Fibonacci ratios very closely. Even if they are not to closest dollar or cent the changes reflect the predominance of the ratios.
So for a change you know of the next change in price just by assessing the Fibonacci ratio. On the Fibonacci chart the limit of the peak is known as the resistance level. The valley point is called the support. So a great opportunity lies in store for all the brokers who can plan your strategy and predict the value of the next rise or drop in accordance with the trend of the economic market.
A practical Fibonacci knowledge on Forex Trading will allow you to gain knowledge on following the next instructions:
- Identification of low risks points at the earliest.
- Cement yourself firmly before any major transaction occurs.
- Enter strong changeovers only when you are sure of not having to cater to stop losses.
- Allot time for a necessary retracement and then move onto a fresh trade.
- Predict logically the future profit targets.
- Try to make losses as low as possible.
- Locate high probability trades.
- Use the known steps to indicate your growth.
Market never follow the linear rule. You ought to be prepared for any switchover. Be it stocks, Forex or futures prices may leap ahead or retrace back in leaps and bounds. The strange aspect is the proximity to the Fibonacci ratio value. The application of Fibonacci to Forex trading is very complex. You may not succeed at the first attempt but even professionals do end up long faced in this assumption.
You must be aware of not to blindly accept a market turn at a Fibonacci level. It may change at the blink of an eye. Always be open to surprises. Stick on to the techniques to evaluate the level where the Fibonacci series might take your next Forex trade occurrence.
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It’s a great tool and helpful to determine my profit targets quickly and accurate.
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