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Fibo Trading System

This indicator is for those trading Engulf Candles – Bearish and Bullish.

It can also be used in conjunction with another trading system. What it does is that you can use it to measure a candle for a Risk Reward 1: 1 for an easily attainable target.

When attached to a chart, it picks on any current candle on the chart but if you want to use it with another candle, you will have to change the ‘0’ default value for current candle in the parameter setting to any value to get the candle position beginning with ‘1’ for the previous candle and count backward as you want. For instance, if you want to use it with fifth candle backward, the value will be 4, beginning with ‘0’ as the first candle which is the current candle. I do hope this is understandable enough for anyone.

When attached, it will draw lines on the candle specified in the parameter setting and each line will show its label:

  • First line is the Entry for a trade on the Engulf Candle which is the close of the Engulf candle or it may be the open price of the next candle if there is no gap.
  • Second line is the Stop-loss at the low or high of the Engulf candle
  • Third line will show breakeven area to turn your trade to risk-free
  • Fourth line shall be located at the tip of either low or high of the Engulf candle to provide double size of the Engulf candle for a Risk Reward 1:1

***Another amazing thing about this indicator is that it can be modified or adjusted by clicking on it and drag it whichever way you want or on any candle to change candle position.

Feel free to experiment with this wonderful indicator, it is the embellishment of the Fibonacci indicator, you can even use it with trend but with extra care depends on what you want to achieve with your trading.

Wishing you a wonderful experience as you use this indicator.

Cheers


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ACTUALMENTE 31% DE DESCUENTO Este indicador es una herramienta de transacción única, de alta calidad y asequible porque hemos incorporado una serie de características propias y una fórmula secreta. Con solo un gráfico, da Alertas para los 28 pares de divisas. ¡Imagina cómo mejorarás porque puedes identificar el punto de activación exacto de una nueva tendencia u oportunidad de crecimiento! Basado en nuevos algoritmos subyacentes , hace que sea aún más fácil identificar y confirmar operaciones po
How to use Pair Trading Station Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal. When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pai
FX Volume
Daniel Stein
4.6 (35)
Obtenga su actualización diaria del mercado con detalles y capturas de pantalla a través de nuestro Morning Briefing aquí en mql5 y en Telegram ! FX Volume es el PRIMER y ÚNICO indicador de volumen que proporciona una visión REAL del sentimiento del mercado desde el punto de vista de un bróker. Proporciona una visión impresionante de cómo los participantes institucionales del mercado, como los brokers, están posicionados en el mercado Forex, mucho más rápido que los informes COT. Ver esta info
Currency Strength Exotics
Bernhard Schweigert
4.88 (33)
¡ACTUALMENTE 20% DE DESCUENTO ! ¡La mejor solución para cualquier operador novato o experto! Este indicador está especializado en mostrar la fuerza de la divisa para cualquier símbolo como Pares Exóticos, Materias Primas, Índices o Futuros. Es el primero de su clase, cualquier símbolo se puede añadir a la 9 ª línea para mostrar la verdadera fuerza de la moneda de Oro, Plata, Petróleo, DAX, US30, MXN, TRY, CNH etc. Se trata de una herramienta de trading única, de alta calidad y asequible por
ICT, SMC, SMART MONEY CONCEPTS, SMART MONEY, Smart Money Concept, Support and Resistance, Trend Analysis, Price Action, Market Structure, Order Blocks, BOS/CHoCH,   Breaker Blocks ,  Momentum Shift,   Supply&Demand Zone/Order Blocks , Strong Imbalance, HH/LL/HL/LH,    Fair Value Gap, FVG,  Premium  &   Discount   Zones, Fibonacci Retracement, OTE, Buy Side Liquidity, Sell Side Liquidity, BSL/SSL Taken, Equal Highs & Lows, MTF Dashboard, Multiple Time Frame, BigBar, HTF OB, HTF Market Structure, 
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Opengates Success International
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Opengates Success International
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Opengates Success International
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Opengates Success International
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Opengates Success International
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Opengates Success International
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Opengates Success International
1 (1)
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Opengates Success International
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Opengates Success International
MicroMini FFMV Dashboard+CSM This is a custom indicator created to give Traders a full view of what is going on in the market. It uses a real time data to access the market and display every bit of information needed to make successful trading. To add value to the trading operation, Currency Strength Meter is added to it in order to consolidate the effective work of this indicator. THIS IS A MicroMini size of the FULL FOREX MARKET VIEW DASHBOARD INDICATOR with CSM added. This is for those who
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Opengates Success International
Compact FFMV Dashboard Compact FFMV Dashboard is a little trimmed custom indicator of FULL FOREX MARKET-VIEW DASHBOARD created to give the Traders a full view of what is going on in the market. It uses a real time data to access the market and display every bit of information needed to make a successful trading. It shows as many as 30 currency pairs or as allowed to display in the Market Watch of your MT4 USAGE: For Solo Trading For Basket Trading (See the screenshot on how) For Signal confirmat
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Opengates Success International
GridBreakTimeSuper is a Utility created based on grid trading strategies. It opens any number of Buystops and Sellstops orders respectively as defined by the User with a predetermined gap up and down from the current price as also set by the User. This EA works based on time set by the User for opening and closing of all orders and trades once in a day according to the time set by user. The general idea here is that each currency pair has specific time that breakout is always most likely as ther
Mutiple Orders with ChangernTFnMgt
Opengates Success International
MULTIPLE ORDERS With Symbol and Time Frame Changer Multiple Orders Utility is created to give easy profits-making trades with a little movements and without going long distance to get it all. This Utility opens multiple orders as many trades as the number specified by the User or as many as permitted by your Broker in the same direction on the same currency pair simultaneously. The idea behind it, is that instead of running after 100 - 200 pips which may not likely be attainable in the re
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Versión 1.3 2022.08.22
New updates in version 1.3:

1. It now shows the amount of exact pips for the engulfing candle selected by the system for trading and the amount determines the Profit target and the Risk for the trade in R.R.R 1:1.

2. It also show the right color for each candle if it is BUY (Green) or SELL (Red).

More updates coming as we discover more ways to make this indicator improve in interface, rewards and easier to use.

Thanks and cheers.
Versión 1.2 2021.05.14
Version 1.2 Updates

*** Discovered a bug and removed it.

Thanks
Versión 1.1 2021.04.17
Updated Version 1.1

1. Removed the Indicator's name and Author's copyrights display on the Chart to avoid distractions

2. Coded the indicator to recognize the Engulfing candles by itself and point them out with arrows on the chart

3. The Indicator can now be used on H1, H4 and D1 time frames, although the MA still remains EMA30 and cannot be modified.

4. To temporarily clear off the fibo lines that mark out the SL, ENTRY, BE and TP pending the time new engulfing candle be sighted, you can go to parameters and replace the current value in the "Candle's Position" box with the newly formed engulfing candle's position (with the number from 0 as the current candle and the previous is 1, the next previous is 2 etc) on the chart and it will plot all the order parameters - SL, ENTRY, BE and TP for you afresh. After you have opened an order and set those parameters as given by the indicator, you can go back to the indicator's parameter and click on "Reset", it will immediately clear off the lines plotted on the chart to have a clean window without lines anymore.

5. More updates coming on the way as the researches are going on and also based on the users' experiences and feedbacks to make it easier and better to be used for improved incomes or profits

***To make it easier to use, you can message me directly on the Telegram (search for @Opengates) for the Indicator's Template and PDF users' guide for instant download, read and follow the instructions on installations and implementations.

To qualify for our 50% discount on all our product, visit the website below:
https://www.forexdashboards.com

Cheers and thanks for your interest in our products!