Trade Bitcoin Trading

Drawing Fibonacci retracement areas in the MT5 platform - step by step.

To measure pullbacks on Bitcoin charts in MetaTrader 5, use the Fibonacci retracement tool. See the example below.

To check Bitcoin price charts with the Fibonacci retracement tool, use the one in MetaTrader 5. Follow these steps to add the indicator in MT5. It draws Fibonacci levels on the Bitcoin BTCUSD chart once you place it there.

To integrate this analytical tool into the MetaTrader 5 software, the following shortcut method can be utilized:

  • Click Insert
  • Click Objects
  • Click Fibonacci
  • Click Fibo Retracement

Drawing Fibonacci Retracement on Bitcoin Charts in MT5

Place Fibo Retracement on the MT5

Once this Fibonacci retracement tool has been integrated onto the MetaTrader 5 platform, it becomes accessible via the "MT5 Line Studies Tool-bar," as illustrated in the following image:

Draw Fibonacci Retracement on MT5 BTC Chart - Fibonacci Tool in MetaTrader 5

Fib Retracement Tool - MT5 Bitcoin Software

This Fibonacci retracement tool sits in the Line Studies Toolbar on MT5. To open it, click the View button in the top left next to File. Then select Toolbars and check Line Studies. Practice using the Fibonacci retracement on MetaTrader 5 with a demo account.

Below is an illustration of the Fibonacci retracement technical indicator: we consistently plot this trading indicator between two established points, Point 1 and Point 2, aligning with the prevailing direction of the Bitcoin price movement, as demonstrated hereunder.

Draw Fibonacci Retracement on MT5 BTC Chart - Fibonacci Levels on Bitcoin Charts in MT5

Bitcoin Fibonacci Retracement Zones

How to Draw Fibo Retracement on MT5 Bitcoin Charts

How Do I Draw Fibonacci Retracement Levels between Two Points

How to Add Fibo Retracement on a BTC USD Price Chart

To apply the BTCUSD Fibonacci Retracement Levels tool on a Bitcoin price chart, click the button shown above in the MetaTrader 5 platform. Then select two points on the chart: the initial point where the trend begins and the subsequent point where the trend begins to retreat.

To adjust this indicator just double-click on it and "adjust points" will appear on the point 1 and 2 - shown as small squares, click & hold your mouse button to move the points to where you as the trader want them to be placed exactly. You can practice using this BTCUSD Crypto Currency Fibonacci Retracement Levels tool by using a practice Crypto Currency account.

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