AutoFibo Trading Zones Forex Entry MT4 Indicator
The AutoFibo Trading Zones Forex entry MT4 indicator defines areas where possible trend reversals may occur for good pips.
The trading zones indicator is based on the best Fibonacci levels and draws two colored zones on the chart.
- The red zone acts as resistance and traders look here for sell reversal trade opportunities.
- The blue zone acts as support and traders look here for buy reversal trade opportunities.
Tip: Use this indicator together with a price action method for accurate buy or sell trade entry that may occur in the extreme blue and red trading zones.
This trend reversal indicator works well for beginners and seasoned traders alike.
You can use this indicator as a standalone (with price action) or use together with your existing system or strategy!
Feel free to explore the Autofibo Trading Zones indicator’s different parameters and settings to create your personalized indicator setup.
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AutoFibo Trading Zones Forex Entry Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
This indicator works for any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With The AutoFibo Trading Zones Forex Entry MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when price reaches the blue trading zone area. Combine with price action to find a no-lag buy trade entry!
Place a protective stop loss below the low of the blue trading zone.
Close the buy trade for a reward/risk ratio of 2.5 or higher.
Alternatively, go for a fixed take profit target, for example, close the trend reversal buy trade for 30 pips on the 1-minute scalping chart.
Sell Trigger: Open a sell trade when price reaches the red trading zone area. Combine with price action to find a no-lag sell trade entry!
Place a protective stop loss above the high of the red trading zone.
Close the sell trade for a reward/risk ratio of 2.5 or higher.
Alternatively, go for a fixed take profit target, for example, close the trend reversal sell trade for 100 pips on the 1-hour trading chart.
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Fib period, Fib style, buy zone, sell zone, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend reversal
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.