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Placing Fibonacci Lines on MT4 Software Platform

The fifth option on the MetaTrader 4 software platform insert menu is Fibonacci Lines. Fibonacci Lines Button Key has the following submenu buttons shown below:

Placing Fibo Lines on the MT4 Software - Fib Fan Trading Indicator

Fib on MT4 Platform

Fibonacci Lines

  1. BTCUSD Fibo Retracement
  2. BTCUSD Fib Time Zones
  3. BTCUSD Fibo Fan
  4. BTCUSD Fibo Arcs
  5. BTCUSD Fib Expansion

BTCUSD Fibo Retracement

The Fibo retracement can be placed on the a Bitcoin chart from the Fib retracement button. Fib retracement is used to estimate where a bitcoin price retracement is likely to reach. The Fibonacci retracements are drawn such as shown below. To know how to draw & use Fibo Retracement Levels study the article: How to draw Fib Retracement Levels:

Placing Fib Retracement Technical Indicator on MetaTrader 4 Bitcoin Chart - Fibonacci Retracement Levels Tool

Fibo Retracement Levels Drawn on a Bitcoin Chart on the MT4 Platform

BTCUSD Fibo Time Zones

Fib time zones use Fibo lines on various timelines. These zones come from Fibo numbers like 1, 2, 3, 5, 8, 13, 21, 34. The levels build by adding: 1+2=3, 2+3=5, 3+5=8. Each sum joins the next pair.

The Fibonacci time zones are depicted below: these timelines indicate potential price fluctuations in Bitcoin based on Fibonacci time zone trading analysis.

Placing Fib Time Zones on Charts in the MT4 - Fib Line

Fib Time Zones in MT4 Platform Software

BTCUSD Fib Fan

The Fib fan is drawn between 2 points and then three additional lines below the bitcoin trend are plotted as the fans, these are 38.2 %, 50.00% and 61.80% Fibo retracement levels. Bitcoin price is likely to bounce & continue in the original direction after bitcoin price retraces to any of these fan lines.

The Fibo Fan Lines are drawn just as is shown and portrayed below:

Placing Fib Fan Lines on Charts on MT4

Fib Fans in the MT4

BTCUSD Fibo Arcs

Plot fib arcs with two points. The arcs show 38.2%, 50%, and 61.8% retracement levels as drawn below.

Placing Fib Arcs on Charts on MT4 Platform Software - Fibonacci Retracement Tool - Fibonacci Line

Fib Arcs Representing Fibo Retracement Zones on a Bitcoin Chart

BTCUSD Fibonacci Expansion

The Fibonacci expansion is used to figure out the most probable level at which traders should set their take-profit levels based in Fib expansion level 61.8% & 100.0% expansion levels. The Fibonacci extension levels are also referred to as Fibonacci Expansion Levels or Fib Projection Levels by some traders & these Fibonacci Extension areas are plotted like as shown below. Tutorial: How to Draw Fibo Expansion Levels:

Placing Fibo Extension Levels Lines on Charts on the MT4 Software - Fib Fan Indicator

How to draw Fib Lines and other Fib studies like Fib Expansion and Retracement on MT4 Platform Software

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