545# Fibonacci Trading System

Fibonacci indicator

 

Submit by Murcu 04/03/2014

 

Time Frames

  • 5 min, 15 min, 30 min, 1H, 4H, daily.

    Currencypairs:

- All major pairs. You may use it for EUR/USD, GBP/USD and all other major

pairs.

Fibonacci Trading with filter

 

Metarader Indicators:

Fibonacci indicator

Filter indicator

 

Attach the indicators to your chart

- The software will automatically determinate a current trend, HIGHs

and LOWs and print all the information on your chart:

Current trading opportunity - entry level, stop loss level, 3 take profit level

 

1 – Recommended stop loss level ( based on the Fibonacci numbers)

2- If a current trend is down ( bearish ) your entry level ( in this case SELL)

When a trend will change – the Fibonacci indicator will automatically

re-print all the entries, SL, TP for a new trend.

 

3- Take profit – level 1 ( normal)

4 – Take profit level 2 – aggressive

5 – Take profit level 3 – high aggressive

 

 

Built in high/low; open/close indicator

Daily high/low and open/close levels are strong support and resistance levels.

Those levels are used by the Fibonacci indicator and may help you

understand where you can expect price to go (optional). Usually high/low used by

traders to identify strong market level that helps to manage trades. In our case

you don’t have to worry about it – high/low and open/close is used by the

Fibonacci indicator” software in combination with Fibonacci to optimize SL,

Entry, TP 1, TP 2, TP3 levels and print them on your charts.

 

Rules for Fibonacci Trading System

The Fibonacci indicator will show you exactly where to enter a trade, where to

exit and where to put a stop loss. These levels are based on Fibonacci levels and

work very well.

The Fibonacci indicator SELL signal with filter indicator that confirmed the entry (Sell Arrow).

 

The Fibonacci BUY signal with filter indicator that confirmed the entry (Sell Arrow).

 

Fibonacci Trading System exit position

Stop Loss

Place your stop loss exactly where the software advices you “STOP LOSS LEVEL”

the price of SL printed in red on your chart ( in our case SL = 1.36327 ). Stop

will be calculated and printed on your chart automatically for each new trade.

 

1. Option I.

Set your own profit target, for example 20 pips per trade and exit all trades as

soon as you reach your profit target – do not wait until the price hits the

indicator’s “profit: level normal”. This is the safest way of trading and reduces

your risk level.

2. Option II

Exit trades when the price is close or touches the Fibonacci indicator “PROFIT:

LEVEL” level (either “profit level normal” or “profit level aggressive”). High

aggressive level is risky and should be used by experienced traders only.

 

 

In the picture Fibonacci trading system in action

Fibonacci Trading System
Fibonacci Trading System
Comments: 3
  • #3

    Goodness (Wednesday, 03 June 2020 19:16)

    Hi able lord...nice results you got

    What timeframe did you use and how did you exit trades pls? Thanks

  • #2

    Ablelord (Saturday, 23 April 2016 05:57)

    Best trading,i made 1580pips last month

  • #1

    Fabio (Friday, 22 April 2016 16:57)

    Great Share!!!

Fibonacci Trading System
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