Fibonacci Fan Forex Support and Resistance Strategy
Table of Contents
This system uses 1 hour or higher timeframe. This is applicable to all currency pairs.
Fibonnacci Fan is used in this system to identify trades that have a relatively small target.
It produces 3 lines set at the main Fibonacci retracement numbers, 38.2%, 50.0%, and 61.8%.
More often than not the main support line on the “Fibonacci Fan” is the 61.8%. Knowing this fact opens the door to our trading system.
When the price breaks the 38.2% line we can assume that it`s at least going to the 61.8% line. This is a small target but it is achieved with regularity.
Place Stop loss 10 pips above the high or below the low of the breaks bar.
Forex Trading Strategies Installation Instructions
Fibonacci Fan Forex Support and Resistance Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
Fibonacci Fan Forex Support and Resistance Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
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How to install Fibonacci Fan Forex Support and Resistance Strategy?
- Download Fibonacci Fan Forex Support and Resistance Strategy.zip
- *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Fibonacci Fan Forex Support and Resistance Strategy
- You will see Fibonacci Fan Forex Support and Resistance Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: