Fast Fibonacci Grid MT4
- Easily adjustable Fibonacci retracement levels - auto-detection, or manual adjust
- Live mode or past mode - select period by easily dragging start and end date. Your Fibonacci levels will automatically adjust to the selected period.
- Fibonacci extension levels based on original Fibonacci retracement grid - auto-adjusted, easily dragable
- Possibility of full manual level adjustment
- Possibility of using grid trading
- Take profit and stop loss levels are draggable can be set in no-time!
- Take profit can be solid or sticky to the requested Fibonacci level. If Fibonacci grid is automatically changed, the TP can either automatically go with it or stay in one place.
- Easily adjusted grid range - by just one click!
- 1-100 grid positions, distance decrease and lot size increase adjusted by simple mathematical equation or by manual input (up to 7 positions)
- Buttons to quickly invert grid - 1 click to switch between buy and sell mode useful for scalping
- Many buttons allow quickly switching between trading modes - confirmation trading, one click trading, and waiting orders in both ways.
- Buttons to suspend the trade, so you can modify your trade settings with no risk
- Possibility of locking editing of your grid and TP, so you don't change/click anything by accident
- Terminal window and file log allow you to track every action or opened transaction
- Possibility of minimizing or disabling terminal window
- Save states allow terminal restarts or resume after crash or weekend (you can turn your computer off)
- Works on all time-frames and symbols
- Adjustable graphics - line width and font size
- Adjustable graphics interface font size - 8x12, 12x18 16x24, that make EA working fine with either for low resolution, full HD or touch-screen
- reset settings button allows you to restore default grid settings - available in both MT4 and MT5 versions
Fibonacci Retracements are ratios used to identify potential reversal levels. These ratios are found in the Fibonacci sequence. The most popular Fibonacci Retracements are 61.8% and 38.2%. After an advance, chartists apply Fibonacci ratios to define retracement levels and forecast the extent of a correction or pullback. Fibonacci Retracements can also be applied after a decline to forecast the length of a counter trend bounce. These retracements can be combined with other indicators and price patterns to create an overall strategy.
Fibonacci retracement is a term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). The Fibonacci retracement is the potential retracement of a financial asset's original move in price. Fibonacci retracements use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
In practice, most traders use Fibonacci extensions in combination with other technical indicators/patterns to help them determine appropriate target prices, future support and resistances.
More about using Fibonacci Extensions and how to trade using them, you will find in a "Comment" section. You can also download a PDF instruction there.
Please download PDF instruction from the "Comment" section. It has detailed description about every input and function of the indicator/EA.