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Auto Fibonacci Retracement

The Auto Fibonacci Retracement Indicator for MT4 is a useful and popular Forex trading tool. It uses Fibonacci levels to identify potential support and resistance areas, and then plots them on the chart. It also displays trend lines and retracement lines, as well as other important Fibonacci levels. The Auto Fibonacci Retracement Indicator for MT4 is a useful and popular tool for Forex traders, and can be used to identify potential trading opportunities and to help make more informed decisions.

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Description

The Auto Fibonacci Retracement Indicator for MetaTrader 4 (MT4) is free and highly acclaimed indicator is designed to simplify the process of applying Fibonacci analysis to the currency markets, empowering traders to make more informed trading decisions.

Features of the Auto Fibonacci Retracement Indicator

The Indicator is packed with features that make it a must-have addition to any trader’s toolkit. At its core, the indicator automatically draws green Fibonacci retracement lines on the chart, highlighting the important levels.

These key levels serve as potential areas of support and resistance, providing traders with valuable insights into the market’s price action.

How the Auto Fibonacci Retracement Indicator Can Benefit You

The Indicator offers a wealth of benefits to Forex traders of all experience levels. By identifying the key Fibonacci levels, this indicator enables traders to anticipate potential price reversals and make more informed buy and sell decisions.

Whether you’re a seasoned trader or a newcomer to the market, the Auto Fibonacci Retracement Indicator can be a valuable asset, helping you to navigate the complexities of the Forex market and potentially enhance your trading performance.

Indicator Settings

FiboLevel1-6: These settings specify the Fibonacci retracement levels to be displayed on the chart.

Conclusion

The Auto Fibonacci Retracement Indicator is a powerful and free tool that can revolutionize the way traders approach the Forex market. By automatically plotting the Fibonacci retracement levels, this indicator empowers traders to identify potential support and resistance areas with ease, unlocking new opportunities for profitable trades. Whether you’re looking to refine your existing trading strategy or explore new avenues for growth, the Indicator is a must-have addition to your trading arsenal. Download the indicator for free and take your Forex trading to new heights.

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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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