Placing Fib Lines in MetaTrader 4 Platform Software
The fifth insert menu option in MetaTrader 4 is Fib Lines. It has these sub-options below.
Fib in the MT4 Platform
Fib Lines
- XAUUSD Fibonacci Retracement
- XAUUSD Fibonacci Time Zones
- Gold Fibo Fan
- XAUUSD Fibonacci Arcs
- Gold Fibo Expansion
Gold Fibo Retracement
The Fibo retracement can be placed on the a chart from the Fibo retracement button key. Fibonacci retracement is used to project where a price pull back is likely to reach. The Fibo retracement levels are drawn such as illustrated and shown below. To learn how to draw & use Fibonacci Retracement Levels read the tutorial: How to draw Fibonacci Retracement Levels:
Fibonacci Retracement Levels Drawn on a Chart on the MetaTrader 4 Platform Software
Gold Fib Time Areas
The Fib time zones are Fib lines drawn at different Fibonacci timelines, these Fib time levels are calculated using Fibo points 1, 2, 3, 5, 8, 13, 21, 34. The Fib areas are 1+2=3, 2+3=5, 3+5=8, first number add to next, next added to the second & so on.
The Fib time zones are below, and at these times, the price is likely to change based on looking at Fib time zones analysis:
Fib Time Zones in MT4 Platform
Gold Fib Fan
The Fib fan is made by drawing a line between two spots, and then three more lines are drawn under the market trend to make the fans. These lines show retracements of 38.20%, 50.00%, and 61.8% based on Fib numbers. The price will likely jump back and keep going as it was after going back to one of these fan lines.
The Fibo Fan Lines are drawn like as illustrated & displayed below:
Fib Fans in the MT4 Platform
Gold Fib Arcs
Fibonacci arcs use two points on a chart. From there, the arcs show 38.2%, 50%, and 61.8% Fibonacci retracement levels, just like you'll see in the example below.
Fibo Arcs Representing Fibonacci Retracement Areas in a Chart
Gold Fibo Expansion
The Fibo expansion is used to figure out most probable level at which traders should set their take-profit levels based in Fib expansion level 61.8% and 100.0 % expansion levels. The Fibo expansion levels are also known as Fibonacci Extensions or Fibonacci Projection Levels by some traders & these Fibonacci Extension levels are plotted like as shown below. Tutorial: How to Draw Fibo Expansions:
How to draw Fibo Lines & other Fibo studies like Fib Expansion and Retracement on MT4 Platform
More Topics and Tutorials:
- McClellan Oscillator Technical Analysis in FX
- What are Choppiness Index Buy & Sell Forex Signals?
- How Do You Analyze/Interpret MetaTrader 4 Downward XAU/USD Trendline on the MetaTrader 4 Platform?
- How to Create a USD HKD System
- How to Register with MT4 Broker
- Fib Expansion Levels & Fibonacci Retracement Levels Courses
- Trailing Stop Loss Levels MT4 Indicator
- How to Trade Fib Retracement Technical Indicator on MT4 Platform Software
- Balance of Power(BOP) Indicator, BOP Analysis
- for Beginners an Introduction to Trading FX Lesson
