'FibonacciEMA' MT4 Indicator
8/26/2019
MAC Fibo Indicator. Best MT4 & MT5 Forex System. Write or read reviews ». Will they also be able to use it on their trading platforms? This forex trading system also helps traders to define the stop loss and trade exit areas of each open trade positions. Fibonacci Bands Trading System is applicable to trade any kind of forex currency pair around the market. Moreover, this forex trading system fits great with all sorts of timeframe charts within the Metatrader 4 trading platforms.
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- Trade Channel Fibonacci Metatrader 4 Forex Indicator. The Trade Channel Fibonacci MT4 forex indicator is a channel trading indicator with Fibonacci retracements levels for trade entry. The trade channel marks the high and low price for a specified period (thick blue lines) and the Fibonacci levels give a clue where to enter buy or sell trades.
- The Trade Channel Fibonacci MT4 forex indicator is a channel trading indicator with Fibonacci retracements levels for trade entry. The trade channel marks the high and low price for a specified period (thick blue lines) and the Fibonacci levels give a clue where to enter buy or sell trades.
The Fibonacci sequence has a unique appeal. While it plays a variety of roles in nature, the Fibonacci sequence is also useful for FX.
This 'FibonacciEMA' is a moving average line (MA) using such a Fibonacci sequence. This indicator is especially recommended for those who don't know what to enter for the period used to calculate the moving average.
What is the Fibonacci sequence?
The Fibonacci number was named after Leo Fibonacci, an Italian mathematician. The Fibonacci sequence is a sequence consisting of the sum of the previous two numbers, such as “1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89…”. The EMA of this indicator applies this Fibonacci sequence to the calculation period.
How to use:
Try using it like a normal crossover system. For example, if the first moving average line (short-term moving average line) exceeds the other moving average lines, you should place a buy order.
You can also use this indicator simply for trend judgment. For example, if the moving average is all upward, there is a high possibility of an uptrend.
Compatibility: MT4
Parameters:
- FastMAPeriod1 - The period used for First EMA calculation
- FastMAPeriod2 - The period used for Second EMA calculation
- FastMAPeriod3 - The period used for Third EMA calculation
- FastMAPeriod4 - The period used for Fourth EMA calculation
- FastMAPeriod5 - The period used for Fifth EMA calculation
Download the 'FibonacciEMA' indicator from the button below
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Try WinRAR for Windows or The Unarchiver for Mac .
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how: Please enable JavaScript to view the comments powered by Disqus. comments powered by Disqus
Here is one very nice trading system that can be worth your attention.
When a trader chooses to use small time frames (like 10 min, 15 min, 30 min even 1 hour) risks to be wrong are always higher than with larger time frames.
Therefore, it is very important to have a really good Forex trading system that can advise on entries with high chances to win and what's more important it should be able to tell exactly where to exit without need to constantly monitor the price.
Note also, the more traders look at charts, the more they tend to have controversial feelings about the success of a current open trade...
With all this long introduction, it is only left to mention that this strategy will require from traders basic knowledge of use of Fibonacci tool.
What is Fibonacci tool and how to use it? Simply Google 'forex fibonacci' phrase and you'll find a lot of information about it.
...This is probably the only reason we classified this trading system as Complex one, not every trader is comfortable with using Fibonacci studies in Forex.
Trading setup:
Time frame: any over 5 min and less than 3 hour.
Currency pairs: any.
Indicators: 5 WMA
Rules:
Look at the price waves. Find the most recent swing high and the most recent swing low = so called Fibonacci A swing and B swing.
Pull Fibonacci from A to B.
Mac Mt4
To know which direction to pull (up or down) simply look at the trend; if it is unclear, find appropriate AB swings and set Fibonacci in both directions.
Once set, wait and watch the retracement from AB swing to unfold.
During the retracement there are three conditions to be met in order to consider trading:
1. The price must touch 5 WMA.
Fibonacci Trading System Metatrader For Mac Free
2. The price must at least touch 0.382 Fibonacci retracement level.
3. The 0.618 Fibonacci retracement level must not fail. Here it means the price should not close below (uptrend) / above (downtrend) 0.618 retracement line. It can touch or poke it, but the level must withstand the 'attack'.
When all three criteria are met, enter once the candle is clearly closed above 5 WMA for Long entry, below - for Short.
Stop order is placed always 4-5 pips above (downtrend) / below (uptrend) the 0.618 Fibonacci retracement level.
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Profit target is set to 1.618 Fibonacci expansion level derived from point A.