Fibonacci Pivot Forex Indicator For Metatrader 4
The Fibonacci Pivot Forex indicator for Metatrader 4 provides accurate buy/sell trend bias signals based on Fibonacci levels and Pivot Point.
The indicator updates and draws all levels on the chart for each trading day.
Generally speaking, price action above the Pivot Point is considered bullish.
Price action below the Pivot Point is considered bearish.
You will know in advance at what price level to buy or sell the monitored currency pair.
It’s that easy!
Take profit will occur at the Fibonacci support (for sell positions) or resistance levels (for buy positions).
Attach the Fibonacci Pivot Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Price action above the Pivot Point is considered bullish. Long trades only.
- Price action below the Pivot Point is considered bearish. Short trades only.
- No lagging indicator.
- Based on price action.
Feel free to explore the Fibonacci Pivot Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Fibonacci Pivot MT4 Forex Indicator
Buy Signal: Execute a buy trade when price crosses the Pivot upwards and closes above it.
Set your stop loss slightly below previous swing low support, or use your own favorite stop loss method.
Close the buy trade at either Fib R1, Fib R2 or Fib R3, or use your own favorite take profit method.
Sell Signal: Execute a sell trade when price crosses the Pivot downwards and closes below it.
Set your stop loss slightly above previous swing high resistance, or use your own favorite stop loss method.
Close the sell trade at either Fib S1, Fib S2 or Fib S3, or use your own favorite take profit method.
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Colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Pivot Point
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.