In Metatrader 4, Is there a simple custom tool like the fibonacci retracement tool that only shows the extension levels (ie 1.272, 1.618) and not the retracement levels as well? I know the fib retracement tool in metatrader can be customized to show only the extension levels however that requires constant changing back and forth to be able to use it for retracements as well. Also I know that it can show both the retracement and extension levels at once however this clutters my screen too much. What I need is a fib extension indicator that is seperate from the retracement tool.
Anyway, I would be very grateful to the person who has information on this.
Tommyboy, MT4 has a fib extension tool as well as the standard fib retracement tool. It is not displayed on the standard toolbar, you have to manually add it. To do this:
Right click on the toolbar that contains the standard "Fib" tool
From the pop up menu that appears choose "Customize" (it's at the bottom)
A pop up box will appear. On the left hand side you will see a list of tools available to add to your toolbar. Scroll down and you will see several "Fib" tools available. The one you are looking for is called "Fibonacci Expansion". Simply add it to your toolbar and you're good to go.
Hope this is what you're looking for.
use - values for fibs too
I'm newbie here, anybody could help me to download fibonacci extension indicator....
Thanks, I am also a newbie. Thanks for information from two of you!