Advanced Fibonacci Tool
The indicator is the advanced form of the MetaTrader 4 standard Fibonacci tool. It is very reasonable for serious Fibonacci traders.
- Drawing of Fibonacci retracement and expansion levels in a few seconds by using hotkeys.
- Auto adjusting of retracement levels once the market makes new highs/lows.
- Ability to edit/remove any retracement & expansion levels on chart.
- Auto snap to exact high and low of bars while plotting on chart.
- Getting very clear charts even though many retracement and expansion series drawn on it.
Keyboard Shortcuts (Hotkeys)
- Shift+E: Initiate a new expansion drawing sequence.
- Ctrl+Shift+E: Remove all expansions placed on a chart.
- Ctrl+Shift+X: Remove last expansion placed on a chart.
- Shift+X: undo last click when clicking ABC’s.
- Shift+D: Initiate a new retracement drawing sequence.
- Ctrl+Shift+D: Remove all retracements placed on a chart.
- Ctrl+Shift+Z: Remove last retracement placed on chart.
- Shift+Z: undo last click when plotting retracements.
- ESC: stop drawing when tool is active.
- Text Font - Font of any text on chart can be adjusted.
- Font Size of Retracement Levels - Size of texts for retracement lines on chart can be adjusted.
- Color of Retracement Levels - Colors of retracement lines and texts on chart.
- Width of Retracement Levels - Width of retracement lines on chart.
- Font Size of Expansion Levels - Size of texts for expansion lines on chart can be adjusted.
- Color of Expansion Levels - Colors of expansion lines and texts on chart.
- Width of Expansion Levels - Width of expansion lines on chart.
- Custom Retracement - Any user defined retracement level can be displayed.
- Custom Expansion - Any user defined expansion level can be displayed.
For MT5 version, please visit => https://www.mql5.com/en/market/product/29486
Please see below video showing how it works by a famous Dinapoli Trader.
- Custom fibonacci expansion series added.