"AutoFibo" MT4 Indicator

This MT4 indicator automatically draws Fibonacci levels. It should make trading easier and be quite useful, especially if you trade often with both Fibonacci retracements and extensions.

Example displayed on the EuroDollar hourly chart

How the indicator works:

This indicator first automatically detects the high and low values of the chart. After this, the Fibonacci level is drawn based on the high and low prices (see the image below).

How to use Fibonacci levels:

This indicator automatically draws the Fibonacci levels, but some people may not know yet how to use the Fibonacci levels in the first place.

You can read these articles to learn more about the Fibonacci retracements and extensions:

• How Fibonacci Retracements are Used in Forex Trading

Compatibility: MT4

Parameters:

• None

Download the "AutoFibo" MT4 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.