How Do You Use Bollinger Bands Fib Ratios MetaTrader 4 Indicator?
Bollinger Band Fib Ratios Indicator Analysis Buy & Sell Signals
Derived from the original Bollinger bands.
The Bollinger Fib ratios is a volatility based indicator but it does not use the standard deviation to calculate the width of the Bollinger bands instead it uses a smoothed ATR that's multiplied with Fibonacci ratios of 1.618, 2.618, & 4.236.
The smoothed lines that are multiplied with Fib ratios are then added or subtracted from the Moving Average indicator.
This then forms 3 upper Fib bands and 3 lower Fib bands
The middle band of this technical indicator forms the basis of the market trend.
How Do I Add MT4 Bollinger Bands Fibonacci Ratios Indicator in MetaTrader 4 Charts
How to Generate Buy and Sell Signals
Bollinger Band Fib Ratios is used to determine point of support & resistance on a chart.
Bollinger Bands Fibonacci Ratios lines below represent support levels while those above represent resistance areas.
The Bollinger Bands Fib Ratios outermost bands provide the strongest resistance levels and support levels.
The Bollinger Bands Fibonacci Ratios inner most bands provide least support and resistance areas.
The Bollinger Band Fib Ratios innermost band represents 38.2 % Fibonacci retracement level
The Bollinger Bands Fibonacci Ratios second band represents 50 % Fib retracement level
The Bollinger Band Fib Ratios outermost band represents 61.8 % Fib retracement level
The Bollinger Band Fib Ratios is used to determine points where the price may reverse - (Price Pullback Levels or Price Retracement Levels)
When price touches one of the Bollinger Bands Fibonacci Ratios lines & reverses then an entry signal or exit signal is generated.
However, it is always good to combine the Bollinger Bands Fibonacci Ratios indicator signals with other confirmation indicators such as the moving average indicator and RSI indicator to confirm the trading signal generated as explained on the example below.
How Do I Use MetaTrader 4 Bollinger Bands Fibonacci Ratios Indicator?
How to Add MT4 Bollinger Bands Fibonacci Ratios Indicator on MT4 Charts
Step 1: Open MT4 Navigator Panel
Open MetaTrader 4 Navigator panel as illustrated below: Go to 'View' menu (click), then select 'Navigator' window (click), or From Standard Tool-Bar click 'Navigator' button or press keyboard MetaTrader 4 short cut keys 'Ctrl+N'
On MT4 Navigator window, select "Indicators", by DoubleClick
How Do You Use MT4 Bollinger Band Fib Ratios Indicator?
How to Add Bollinger Bands Fib Ratios MetaTrader 4 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will appear as (-) and it will then display a list of MT4 indicators as shown below - choose the Bollinger Bands Fibonacci Ratios indicator from this list of MT4 indicators so that you can add the Bollinger Bands Fibonacci Ratios MT4 indicator on the MT4 chart.
How Do You Use MT4 Bollinger Band Fib Ratios Indicator?
How Install and Add Custom Bollinger Bands Fibonacci Ratios Indicator on MetaTrader 4?
If the MT4 indicator that you want to add on the MT4 charts is a custom MetaTrader 4 indicator - for example if the Bollinger Bands Fibonacci Ratios indicator that you want to add is a custom MT4 indicator you will need to first add this custom Bollinger Bands Fibonacci Ratios MT4 indicator on the MT4 platform and then compile this custom Bollinger Bands Fibonacci Ratios indicator so that this newly added Bollinger Bands Fibonacci Ratios MT4 custom indicator appears on the custom technical indicators list on the MetaTrader 4 software.
To learn how to add Bollinger Bands Fibonacci Ratios indicators on MT4 software - how do you add Bollinger Bands Fibonacci Ratios indicator window to MT4 software? - how do you add Bollinger Bands Fibonacci Ratios custom indicator on MT4 software? - How Do I add a custom Bollinger Bands Fibonacci Ratios custom indicator on MetaTrader 4.
How Do I Use MetaTrader 4 Bollinger Bands Fibonacci Ratios Indicator?
