Auto Fibonacci With EMA

Auto Fibonacci Indicator

Overview

Auto Fibonacci Indicator automatically draws Fibonacci retracement levels based on the most recently closed candle on the selected Daily (D1) or 4-Hour (H4) timeframe. It is designed for manual technical analysis and helps traders view price levels that may be relevant to support, resistance, and market structure analysis.

The indicator displays Fibonacci levels on the chart and can be used on different chart timeframes.

Features

  • Automatic Fibonacci retracement drawing based on the selected D1 or H4 timeframe.

  • Displays the following levels: 0.0%, 23.6%, 38.2%, 50.0%, 61.8%, and 100.0%.

  • Updates the displayed levels when market prices change.

  • Customizable colors, line styles, and extension distances.

  • Suitable for manual chart analysis without placing trades automatically.

Suggested Manual Trading Approach

The indicator can be combined with a 50-period Exponential Moving Average (EMA) to add a trend filter to manual trading decisions.

To add the EMA in MetaTrader 4, open Insert > Indicators > Trend > Moving Average. Set the period to 50 and the method to Exponential.

Example Buy Conditions

Consider a potential buy setup when price approaches or crosses a relevant Fibonacci level while trading above the 50 EMA. Additional confirmation from price action or candle patterns can be used before entering a trade.

Example Sell Conditions

Consider a potential sell setup when price approaches or crosses a relevant Fibonacci level while trading below the 50 EMA. Additional confirmation may help assess the setup before entering a trade.

Entry levels, stop-loss placement, and take-profit targets should be determined according to the instrument, market conditions, and individual risk-management rules. These examples are for manual analysis and do not guarantee trading results.

Supported Markets and Timeframes

The indicator can be applied to charts for Forex, Gold, indices, and cryptocurrencies where supported by the trading platform and broker.

The Fibonacci calculation uses the selected D1 or H4 timeframe, while the indicator can be displayed on other chart timeframes. M5 and higher timeframes may be convenient for manual analysis.

Important Information

Auto Fibonacci Indicator is a charting tool, not an Expert Advisor. It does not open or manage trades automatically.

The indicator identifies price levels for analysis. Trading decisions remain the responsibility of the user, and no particular result is guaranteed.

Support

For installation assistance or questions about the indicator, use the MQL5 Market comments section or the MQL5 messaging system.

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MT5 Trade Copier Master - Free Trade Broadcaster Require Slave EA: https://www.mql5.com/en/market/product/178686 This Master EA broadcasts trades but CANNOT copy them by itself. You MUST purchase and install the SyncTrade Copier Slave EA on a second MT5 terminal to copy trades. Without the Slave EA, this product does nothing useful on its own. Both MT5 terminals must be installed on the SAME computer for file sharing to work. They cannot be on different computers or VPS instances. What This Ma
FREE
Gold Scanner EA
Md Atiqul Islam
Gold Scannar CI Averaging Martingale EA   Smart. Adaptive. Powerful. Built for Professionals. The CCI Averaging With TP, Equity Protect, Martingale EA is a fully automated Expert Advisor designed for traders who want to capitalize on market momentum shifts using CCI (Commodity Channel Index) signals. It intelligently scales into positions using an adaptive martingale strategy , with built-in hedging logic and equity protection for enhanced risk control. This EA is ideal for traders who underst
Intelligent Trade Copier with Missed Trade Recovery Require Free Master EA:  https://www.mql5.com/en/market/product/178682 This Slave EA REQUIRES the FREE SyncTrade Copier Master EA to function. Without the Master EA installed and running on a second MT5 terminal, this product will not copy any trades. Download the FREE Master EA from the MQL5 Market before or after purchasing this Slave EA. Both EAs must be running simultaneously. Both MT5 terminals must be installed on the SAME computer for fi
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