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RED FIB Levels V1.23 Indicator MT4

Original price was: $199.00.Current price is: $0.00.

RED FIB Levels Indicator: Auto-calculate up to 7 Trend-Based Fibonacci levels on an adjustable frame. Customize Fibonacci levels as needed. Ideal for traders seeking precise retracement and extension levels.

Description

RED FIB Levels V1.23 Indicator for MT4

Overview

The RED FIB Levels V1.23 Indicator is a powerful tool for MetaTrader 4 (MT4) that automatically calculates and plots Fibonacci retracement levels on your price chart. These levels are essential for identifying potential reversal zones and determining entry and exit points.

Key Features

  • Auto-calculate up to 7 Trend-Based Fibonacci levels: The indicator dynamically adjusts these levels based on market conditions.
  • Customizable parameters: You can fine-tune the Fibonacci levels according to your trading preferences.
  • Multiple timeframes: The indicator works across different timeframes, but for our strategy, we’ll focus on the H1 (1-hour) timeframe.
  • Currency pair: We recommend using the EURUSD currency pair for this strategy.

Strategy: How the EA Takes Trades

  1. Indicator Setup:
    • Install the RED FIB Levels V1.23 Indicator on your MT4 platform. You can download it from our website: YoForex.org.
    • Set the indicator to calculate Fibonacci retracement levels based on the H1 timeframe.
  2. Minimum Deposit:
    • To use this indicator effectively, we recommend a minimum deposit of $500 (or equivalent in your account currency). This ensures sufficient margin for trading.
  3. Entry Criteria:
    • Bullish Scenario:
      • Wait for the price to retrace to one of the Fibonacci levels (e.g., 38.2%, 50%, or 61.8%).
      • Look for additional confluence factors, such as candlestick patterns or support/resistance zones.
      • If the conditions align, consider entering a buy trade.
    • Bearish Scenario:
      • Similar to the bullish scenario, but for sell trades.
      • Price retraces to a Fibonacci level, and confluence factors confirm a potential reversal.

 

RED FIB Levels V1.23 Indicator MT4

RED FIB Levels V1.23 Indicator MT4

RED FIB Levels V1.23 Indicator MT4

  1. Stop Loss and Take Profit:

    • Set your stop loss just below the Fibonacci retracement level where you entered the trade.
    • Place your take profit at the next significant Fibonacci level or a predefined target (e.g., 100 pips).
  2. Risk Management:

    • Risk no more than 2% of your account balance on any single trade.
    • Adjust position size accordingly based on the distance between entry and stop loss.

 

  1. INSTANT DOWNLOAD : https://yoforex.org/product/red-fib-levels-v1-23-indicator-mt4/

  2. Telegram Channel:

 

Remember that successful trading involves a combination of technical analysis, risk management, and discipline. Always test any strategy on a demo account before implementing it with real funds.

 

 📈🔍🚀Happy Trading 📈🔍🚀

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