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Fibonacci Potential Entry - MT4 - script for MetaTrader 4

[Deleted]
Views:
21853
Rating:
(16)
Published:
2020.11.27 02:45
Updated:
2020.12.27 17:45
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INTRODUCTION :

The 8 effective steps to build a robust day trading plan using Fibonacci retracement will help us use Fibonacci to locate potential entry points.

Having a trading plan is what differ us from amateurs because professional traders always use their trading plan.


HOW TO USE IT :

You can check the following video that will explain how to

  • What are the 8 steps to build a robust trading plan based on Fibonacci retracement.
  • Most common mistakes that trades do.
  • Applying the trading plan to search for Fibonacci entry points.


PARAMETERS :

This script has 5 inputs, which are

  • The Price on 50% Level on M5 TF : enter the price
  • The Price on 61% Level on M5 TF : enter the price
  • The Price on 100% Level on M5 TF : enter the price
  • The Second Target on H1 TF : enter the price
  • The Risk in % : enter the % risk on this trading setup
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