Trade Bitcoin Trading

Setting up Fibo Expansion in MT4 and Changing its Settings

The steps outlined below detail how to establish these levels, utilize the tool, and adjust its settings.

How to Set This Indicator on MetaTrader 4 Platform

Steps: This tool is not displayed by default in MetaTrader 4 settings, if the button doesn't appear in your MT4, (no need for you to download this tool) then locate the "MetaTrader 4 Line Studies Tool-bar" shown below and follow the steps discussed below:

1. MT4 Line Studies Tool Bar

Line Studies Toolbar in MT4

2. Customize Line Studies Tool-bar

RightClick Customize button (illustrated and shown below) >>> A drop-down menu appears, Select and Choose Customize >>>

Customize Line Studies Tool-bar on the MT4 - Drawing Fibo Expansion on MetaTrader 4 Charts on MT4

3. Place This Indicator on MetaTrader 4 Platform

Select the extension tool from the pop up window which will then appear >>> Press Insert button >>> Click Close. (Shown Below)

Adding Fibonacci Extension Areas Indicator on MT4 Platform - Drawing Fibo Expansion Levels on BTCUSD MT4 Charts on MT4

4. Fibo Expansion Tool Added

Fib Expansion Levels Tool Added to MT4 - Drawing Fib Expansions on Crypto MT4 Charts in MetaTrader 4 on MT4

Short Cut of How to Add

You can also use this short-cut instead of the above method, do this:

  1. Click "Insert Menu"

  2. Press Fibo
  3. Click Expansion

Short Cut of How Do You Add Fib Expansion Levels Technical Indicator on the MT4 Platform?

Steps on How to Draw Expansion

Steps. Once you as a trader have added this button, you can draw this tool by choosing it and drawing it on a chart. Three points will be tagged 1, 2 & 3, choose the Fibonacci indicator, place the technical indicator on chart point 1 & while still holding down the mouse button key drag the mouse upto point marked 2.

How Do You Draw Fib Expansion Levels? - Drawing Fib Expansion in BTCUSD MT4 Charts in MT4

How to Adjust This Indicator on a Chart

Steps. Once you as a trader have drawn this technical indicator, you might need to move one chart point or another to the precise point where you strictly want. The 3 chart points are labeled 1, 2 & 3 and these are used to change the indicator parameters after this Fib indicator has been drawn on a Bitcoin chart.

To adjust trading indicator parameters on your chart, double-click the indicator displayed as dotted lines. Three cursor points labeled 1, 2, 3 will appear. Select any point to move and adjust it interactively until it fits your desired chart configuration - it's simple yet flexible customization.

Study More Tutorials:

Bitcoin Broker