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Leonardo of Pisa, also better known as Leonardo Fibonacci, was a prominent mathematician who introduced the so-called Fibonacci sequence to mathematics, which over time has found its place in other important fields, including, of course, our favourite trading.
The Fibonacci retracement is a well-known concept among traders, but here we present a true unique among Fibonacci indicators that can not only automatically retrace itself over time, but at the same time its algorithm can determine the optimal value of the new location.
- Fibo average levels indicator
- User difficulty: medium
- Usability: forex, oil, gold
- MetaTrader 4 Compatibility.
- Free indicator updates
Trading with the indicator
In case the price of the instrument hits one of the above-average (levels located above 0.0%) Fibonacci levels, then entries into short positions are made (see chart below).
Conversely, if any of the below-average (levels below 0.0%) levels are hit, then long entries into trading positions occur (see chart below).
Download the Fibonacci moving average from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
