Placing Fib Lines on MT5 Software
The fifth option on the MetaTrader 5 platform insert menu is Fib Lines. Fibonacci Lines Button has the following submenu MetaTrader 5 button keys shown below:
Fibonacci Stock on MT5
Fib Lines
- Stocks Fib Retracement
- Stocks Fib Time Zones
- Stocks Fibonacci Fan
- Stocks Fibonacci Arcs
- Stocks Fibonacci Expansion
Stock Fibonacci Retracement
The Fib retracement can be placed on the a chart from the Fibonacci retracement button. Fibonacci retracement is used to estimate where a price retracement is likely to reach. The Fib retracement levels are drawn as shown below. To learn how to draw and use Stock Fib Retracement Levels read the tutorial: How to draw Stock Fib Retracement Levels:
Stock Fib Retracement Levels Drawn on a Stock Chart on The MetaTrader 5 Software
Stocks Fib Time Areas
The Fibonacci time zones are Fibonacci lines plotted at different Fibonacci timelines, these Fibo time zones are calculated using the Fibo points 1, 2, 3, 5, 8, 13, 21, 34. The Fibonacci levels are 1+2=3, 2+3=5, 3+5=8, first number add to the next, the next added to the second and so on.
The Fib time zones are symbolized below, at these time lines price changes are likely to occur based on technical analysis of Fibonacci time zones:
Fibonacci Time Zones in MetaTrader 5
Stock Fib Fan
The Fibonacci fan is drawn between 2 chart points and then 3 additional lines below the trend are drawn as the fans, these are 38.20%, 50.00% & 61.8% Fibo retracement levels. The price is likely to bounce and continue in the original direction after price retraces to any of the fan lines.
The Fibonacci Fan Lines are drawn as shown below:
Fibonacci Fans on MT5
Stock Fib Arcs
Fib arcs are drawn using 2 chart points, the arcs are then drawn as shown below & these arcs represent 38.2%, 50.0% & 61.8% Fibo retracement levels.
Fibonacci Arcs Representing Stock Fib Retracement Areas on a Chart
Stock Fibonacci Expansion
The Fibo expansion is used to determine the 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 Fib expansions are also referred to as Stocks Fibonacci Extension Levels or Fibonacci Projection Levels by some traders & these Stocks Fibonacci Extension areas are drawn as shown below. Tutorial: How to Draw Stocks Fibonacci Expansion Levels:
How to draw Fib Lines and other Fibonacci studies like Stocks Fibonacci Expansion and Retracement on MT5
What's a Trading Plan? - Written Plan Example Template
Alternatives: Automated Expert Advisors Robots or Copy Paste Signals
