How to Set Bollinger Band Fib Ratios Indicator on MetaTrader 4 Charts
Step 1: Open Navigator Window on Platform
Open the Navigator panel just as shown & illustrated below: Go to the 'View' menu (click on it), then select 'Navigator' window panel (click), or From Standard ToolBar click 'Navigator' button or press key board short cut keys 'Ctrl+N'
On Navigator panel, choose 'Indicators', (DoubleClick)
How to Add Bollinger Band - Fib Ratios Indicator in MetaTrader 4 Platform - MT4 Bollinger Band - Fibonacci Ratios Indicator
Step 2: Expand the Indicators Menu on the Navigator - Adding Bollinger Band - Fibonacci Ratios MT4 Indicator
Expand this menu by clicking the open button emblem mark ( + ) or double-click the 'indicators' menu, after that this button will appear and be shown as (-) & will now display a list as is shown below - select and choose the Bollinger Band - Fibonacci Ratios chart indicator from this list of indicators so that to add the Bollinger Band - Fib Ratios indicator to the chart.
How to Set Bollinger Band - From the Above window you as a trader can then place Bollinger Band - Fibonacci Ratios indicator that you as a trader want on the chart
How to Set Custom Bollinger Band - Fib Ratios Indicators to MetaTrader 4
If the indicator you want to add is a custom technical indicator - for example if the Bollinger Band - Fibonacci Ratios technical indicator you want to add is a custom indicator you'll need to first add this custom Bollinger Band - Fibonacci Ratios indicator on the MT4 software & then compile custom Bollinger Band - Fibonacci Ratios indicator so that as the newly added Bollinger Band - Fibonacci Ratios custom indicator pops up on the list of custom technical indicators on MT4 software.
To learn how to install Bollinger Band - Fib Ratios indicators on the MT4 Platform, how to add Bollinger Band - Fib Ratios indicator window to MT4 and how to add Bollinger Band - Fibonacci Ratios custom indicator on MetaTrader 4 Platform - How to add a custom Bollinger Bands - Fibonacci Ratios indicator in the MT4.
About Bollinger Band - Fib Ratios Technical Indicator Tutorial PDF
Bollinger Band - Fib Ratios Analysis & Signals
Derived from the original and initial Bollinger band.
The Bollinger Fibonacci ratios is a volatility based indicators but it doesn't use the standard deviations method to calculate width of the channels instead it uses a smoothed ATR which is multiplied with Fibo ratios of 1.618, 2.618, and 4.236.
The smoothed lines that are multiplied with Fibonacci ratios are then added or subtracted from the MA.
This forms Three upper Fibonacci bands and Three lower Fibonacci bands
Middle band forms the basis of the price trend.
Forex Analysis and How to Generate Signals
This indicator used to determine point of support and resistance for a forex pair.
Lines below represent support levels while those above are resistance levels.
The outer-most bands provide the strongest resistance/support.
The inner most bands provide least support/resistance.
The innermost band represents Fibonacci 38.2 % retracement level
The second band represents Fibonacci 50 % retracement level
The outermost band represents Fibo 61.80 percent retracement level
The Indicator is used to determine points where price may reverse. (Price Pull-back Levels)
When price touches/tests one of the lines & reverses then an entry or exit trading signal is generated.
However, it is always good to combine the signal with other confirmation indicators like the Moving Average to confirm the signal just as shown below.
Analysis in FX Trading
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