Auto Fibonacci Indicator for MT4

Auto Fibonacci Indicator for MT4

This Fibonacci Indicator is primarily manual. It does produce standalone signals, but I don’t recommend using them only. Any decisions to enter the market and to set protection stops or profitable exit stops will depend on the trader. Therefore, the trader must be familiar with the principles of risk and reward and use initial support and resistance areas to set entries and exits.

Auto Fibo Phenomenon indicator is a standalone trading indicator, But it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live. You can open a real or demo trading account with most MT4 Forex brokers.