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Placing Fibonacci Lines on MetaTrader 5

The 5th option on the MT5 platform insert menu is Fib Lines. The Fib Lines Button Key has the following submenu MT5 buttons shown below:

Placing Fibonacci Lines in MT5 - MT5 Placing Fibonacci Lines in MetaTrader 5 - Fibo Extension Levels in MT5

Fibonacci Forex on Meta Trader 5

Fibonacci Lines

  1. Forex Fibonacci Retracement
  2. Forex Fibonacci Time Zones
  3. Forex Fib Fan
  4. Forex Fib Arcs
  5. FX Fib Expansion

FX Fib Retracement

The Fibo retracement can be placed on a Forex chart from the Fibonacci retracement button. Fibo retracement is used to project where a forex price pull back is likely to reach. The Fibo retracement levels are drawn as shown and illustrated below. To learn how to draw and use Fibo Retracement Levels read the guide: How to draw Fibonacci Retracement Levels:

Placing Fibonacci Retracement Indicator in MT5 Chart - Fibo Expansions on MetaTrader 5

Fibo Retracement Levels Drawn on Forex Chart on the MT5 Platform

Forex Fibonacci Time Zones

The Fibo time zones are Fibo lines plotted at different Fibo timelines, these Fibo time zones are calculated using Fib points 1, 2, 3, 5, 8, 13, 21, 34. The Fibo levels are 1+2=3, 2+3=5, 3+5=8, first number add to next, the next added to the second & so on.

The Fib time zones are pictured below, at these time lines forex price changes are likely to occur based on forex technical analysis of Fibonacci time zones:

Placing Fibonacci Time Zones on Forex Charts on MetaTrader 5 - MT5 Placing Fibonacci Lines on MT5

Fibonacci Time Zones in MetaTrader 5

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Forex Fibonacci Fan

The Fib fan is drawn between two chart points & then three additional lines below the forex trend are plotted as the fans, these are 38.2%, 50.0% & 61.80% Fib retracement levels. Price is likely to bounce & continue in the original direction after forex price retraces to any of these fan lines.

The Fibo Fan Lines are drawn as shown and illustrated below:

Placing Fibonacci Fan Lines on Forex Charts in MT5 - Fib Expansions on MT5

Fibonacci Fans on Meta Trader 5

FX Fib Arcs

Fib arcs are plotted using two chart points, arcs are then drawn as shown & illustrated below & these arcs represent 38.2%, 50.0% & 61.8% Fibo retracement levels.

Placing Fibonacci Arcs on Forex Charts in MT5 - MT5 Placing Fib Lines on MetaTrader 5 - Fib Retracement on MT5

Fibonacci Arcs Representing Fibonacci Retracement Zones on a Chart

FX Fibonacci Expansion

The Fibo expansion is used to determine most probable level at which traders should set their take profit levels based on Fibo expansion level 61.8% and 100.0% expansion levels. The Fibo expansion levels are also referred to as Fibo Expansion Levels or Fibonacci Projection Levels by some traders & these Fibo Extension areas are drawn as illustrated below. Tutorial: How to Draw Fibonacci Extension Levels:

Placing Fibonacci Extension Levels Lines on Forex Charts on MetaTrader 5 - Fibo Expansion on MT5

How to draw Fib Lines and other Fibo studies like Fibo Expansion and Retracement on Meta Trader 5