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We have already talked about and featured the unique Fibonacci retracement indicator several times here on our website, which has undoubtedly become an important part of many professionals thanks to its advantages and benefits.
Like other indicators, it has some shortcomings, probably the most important of which is its plotting on the chart. However, the new AutomaticFibo addresses this shortcoming. The indicator can plot Fibonacci levels all by itself without any help, so you never have to wonder if you made a mistake when plotting.
- Automatic Fibonacci Indicator
- User friendliness.
- Usability: Forex, Stocks
- MetaTrader 4 Compatibility.
- Free indicator updates
Trading with the indicator
Thanks to AutomaticFibo, traders completely eliminate the worry of plotting correctly on the chart. Thus, all that is needed to trade with this indicator is a basic knowledge of its workings and a little luck to do so. For example, trading bounces off of set price levels is one of the appropriate practices to trade this indicator, more specifically only the cases of "first" hits as shown in the chart below (point 1,2,3).
Download AutomaticFibo 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.
