RED FIBEX Indicator V1.06 MT4

Description

RED FIBEX Indicator V1.06 for MT4

Overview

The RED FIBEX Indicator V1.06 is designed to find trend extensions and determine optimal entry points (OP), stop-loss (SL), and take-profit (TP) levels. It stands for Fibonacci Expansion and offers high accuracy in identifying key reference points.

Key Details

• Minimum Deposit: $500
• Timeframe: M5 (5-minute chart)
• Platform: MetaTrader 4 (MT4)
• Currency Pairs: EURUSD, EURJPY, GBPUSD

 

Strategy

The RED FIBEX Indicator V1.06 follows a specific trading strategy:

1. Fibonacci Expansion Analysis:
   • The indicator automatically calculates Fibonacci levels without manual input.
   • It identifies potential trend extensions based on Fibonacci ratios.
   • These levels serve as reference points for trade decisions.
2. Entry Points (OP):
   • When the indicator detects a trend extension, it suggests entry points.
   • Traders can enter long (buy) or short (sell) positions based on these signals.
3. Stop-Loss (SL):
   • The SL level is determined by the indicator.
   • It helps protect against adverse price movements.
   • Traders can set their SL slightly below the identified level.
4. Take-Profit (TP):
   • The TP level is also provided by the indicator.
   • It represents the target price where traders can close their position.
   • Traders can set their TP slightly above the identified level.

Strategy Type

The RED FIBEX Indicator V1.06 is not a martingale or hedging strategy. It operates as a scalping tool, aiming for quick profits within short timeframes.

 

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Additional Resources 

Instant Download: https://yoforex.org/product/red-fibex-indicator-v1-06-mt4/

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