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Auto Fibonacci Retracement

Enhance MT4 analysis with Auto Fibonacci Retracement. Effortlessly plot ratios on price charts, no manual highs/lows. Accurate, customizable, time-saving.

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Description

Employing Fibonacci sequence ratios, the Fibonacci retracement is a technical analysis tool to plot price charts. Identifying chart highs and lows, necessary for precise plotting, can be difficult. Luckily, the Mt4 Auto Fibonacci Retracement indicator removes this complexity.

Manual configuration becomes unnecessary by automatically setting chart points and identifying the marker, minimizing errors.

Features of Auto Fibonacci Retracement Indicator for MT4

Here are the features of the Auto Fibonacci Retracement Indicator for MT4

  • The indicator automatically plots Fibonacci retracements on price charts without manual input using an indicator that identifies the levels. You don’t need to identify the highs and lows manually.
  • The indicator accommodates individual trading preferences. You can achieve this by specific indicator settings, which might permit customization of colors and Fibonacci levels.

How Does the Indicator Benefit You

Here are some ways you can benefit from the Auto Fibonacci Retracement Indicator for MT4.

  • The analysis process becomes more efficient by eliminating the manual task of identifying chart highs and lows. This saves you a lot of time while trading.
  • The indicator helps you to carry out technical analysis. It identifies Fibonacci retracement chart points more reliably and correctly by eliminating human errors.
  • The user-friendly tool can be incredibly useful for those unfamiliar with Fibonacci retracement. It streamlines the process and eliminates the need for extensive expertise.
  • For better decision-making, you can apply Fibonacci analysis to your charts, which enhances your efficiency in determining entry and exit points.

Auto Fibonacci Retracement Indicator Settings

Fibo color: Choose a Fibo color.

Fibo width: Choose a Fibo width value.

Fibo style: Choose a Fibo style value.

Unretraced zone color: Choose an unretraced zone color.

Show unretraced zone: Turn the show unretraced zone on or off.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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