The Fibonacci Dimension MT4 is an indicator that provides a visual display of Fibonacci retracement and expansion levels for profitable forex strategies. It automatically calculates the Fibonacci levels based on the previous high and low for two user-defined timeframes, allowing traders to derive profitable strategies for execution.
Key Features
1. Visual Clarity: The indicator displays the calculated multi-timeframe Fibonacci levels in a dimension for easy visualization and analysis.
2. Multiple Timeframes: Traders can select the previous year as a timeframe for calculation, providing a broader perspective for strategy development.
3. Sunday Candle: The indicator incorporates the additional Sunday candle to the previous Friday, allowing for accurate calculations and levels for Monday (Day – D1).
4. Customizable Colors: Traders can define a Fibonacci retracement level as the mid-range to be displayed in a different color. The display of mid-range color considers the previous timeframe candle, whether bullish or bearish.
5. Multiple Instances: The indicator supports multiple instances on the chart, enabling the display of more sets of timeframe retracements for comprehensive analysis.
6. Extended Line Display: Traders can toggle the display of extended lines till the start of the timeframe period by a mouse click on the level or text, providing flexibility in analysis.
7. Customizable Formatting: The indicator allows for customizable formatting of lines, fonts, and colors used, allowing traders to personalize the display according to their preferences.
8. Fibonacci Expansion Levels: In addition to retracement levels, the indicator also includes Fibonacci expansion levels, which can be used to strategize trade exits.
9. Price Breaks: The indicator draws extended retracement levels in case the price breaks the 100 level, providing additional insights for traders.
FAQ
Can I use the Fibonacci Dimension MT4 on any financial instrument?
Yes, the indicator can be used on any chart, including Forex, Indices, Stocks, Commodities, and Cryptocurrencies.
What should I do if I encounter errors while using the indicator?
If you encounter errors, you can check the Journal and Experts tabs of the terminal/toolbox (Ctrl T) window for more information on the issue.
Where can I find independent testing of the Fibonacci Dimension MT4?
You can find independent testing of this product on the forexroboteasy.com website. Additionally, you can subscribe to updates on the results of testing this product.
Conclusion
The Fibonacci Dimension MT4 is a powerful indicator that provides a visual display of Fibonacci retracement and expansion levels for profitable forex strategies. With its comprehensive multi-timeframe analysis and customizable features, traders can derive valuable insights and develop effective trading strategies. Whether you are a beginner or an experienced trader, the Fibonacci Dimension MT4 can be a valuable tool in your technical analysis and market analysis toolkit.
We invite you to share your experience of using the Fibonacci Dimension MT4 and discover the potential it holds for your trading success.
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