Spud Fibo Indicator

Spud Fibo Indicator

Learn to trade with the best automatic Fibonacci indicator for MT4. Spud Fibo simultaneously determines bullish & bearish price retracement levels on MTF charts.

The Spud Fibo is an automatic MT4 price-level indicator. It outlines key support/resistance levels following the Fibonacci rules.

You can use this indicator in conjunction with any forex and stock trading strategy. It’ll help you acquire additional information on possible price pullback zones so that you can decide on your trade entry levels.

Technically, the Spud Fibo suits MTF charts in MetaTrader platforms. So, you can use it to assess both short and long-term trade entry and exit levels simultaneously.

How to Trade with the Spud Fibo Indicator in MT4

Traders often struggle to identify upcoming support and resistance levels when the price strikes a new high or low.

This indicator plots a large number of Fibonacci levels on MetaTrader charts that cover up to 500% retracement levels on either side (bullish and bearish). This feature enables the indicator to guide you through key price levels in all market conditions.

Look to enter long once the price gets rejected from a Fibo support level. It can be a false break or bullish hammer at the Fibo-level, confirming a buy signal at solid support.

The price fails to break above a Spud Fibo resistance means it’s time to look for selling opportunities. Alternatively, you can go short if the price clearly breaks a strong Fibo support.

Conclusion
If you can closely monitor price-actions in key chart levels, then the Spud Fibo can be the best price-level indicator for your existing trading strategy. Fibonacci is a common chart analysis tool that is globally recognized by technical traders, and the Spud Fibo is just an automatic version of it. It’s more versatile and accurate in determining key price pullback zones compared to manually drawn support/resistance levels.