The Automated Fibonacci indicator for MT4 is a complete Forex system that provides the entry, stop loss, and take profit target.
The indicator is solely based on Fibonacci levels and looks for optimal entry points that might occur in both up and downtrending markets.
It appears in the main chart and paints all buy and sell signals on the chart.
In order to make it even more easy, all signals will appear in the left part of the screen in the colored rectangle.
Fibonacci Indicator Trade Logic
- In an uptrend, it will wait for the optimal retracement level (buy on dips) and then signals a buy entry accompanied with stop loss and take profit target.
- In a downtrend, it will wait for the optimal retracement level (sell on rallies) and then signals a sell entry accompanied with stop loss and take profit target.
- Please note that the indicator also identifies trend reversal signals.
Key Features
- Based on Fibonacci retracements
- Non-repaint trading signals
- Complete Forex system
- Provides the entry, stop loss, and take profit
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.
Free Download
Download the “Automatic Fibonacci Indicator (zip file)” MT4 indicator
Trading Chart
The EUR/USD 5-minute chart below shows the Fibonacci Indicator system in action.
Basic Trading Signals
Signals from the Automated Fibonacci Indicator Forex System for Metatrader 4 are easy to interpret and go as follows:
BUY:
- Open a buy trade when the Fibonacci system signals a new buy trade.
- Place a stop loss for the buy signal as indicated by the system.
- Set the take profit target as indicated by the system.
SELL:
- Open a sell trade when the Fibonacci system signals a new sell trade.
- Place a stop loss for the sell signal as indicated by the system.
- Set the take profit target as indicated by the system.
Download Now
Download the “Automatic Fibonacci Indicator (zip file)” MT4 indicator
Fibonacci Pullback Strategy with Automated Fibonacci Indicator
The Automated Fibonacci Indicator Forex System MT4 automatically plots key retracement levels based on recent market swings.
You can use it to trade pullbacks within strong trends, catching high-probability entries at optimal price zones.
Chart Setup
- Indicator: Automated Fibonacci Indicator Forex System MT4
- Timeframe: 30-minute (M30) or 1-hour (H1)
- Additional Tool: 100 EMA (optional, for trend confirmation)
Buy Setup
- Identify a clear uptrend (higher highs and higher lows or price above 100 EMA).
- Wait for the Automated Fibonacci Indicator to draw retracement levels from the most recent swing low to swing high.
- Look for bullish price action (e.g. pin bar, engulfing candle) around the 50.0% or 61.8% Fibonacci retracement level.
- Enter a buy trade at the close of the confirmation candle.
Sell Setup
- Identify a clear downtrend (lower highs and lower lows or price below 100 EMA).
- Wait for the indicator to draw Fibonacci levels from the recent swing high to swing low.
- Look for bearish confirmation around the 50.0% or 61.8% retracement level.
- Enter a sell trade when the price shows rejection of that level.
Trade Management
- Stop Loss: Just beyond the 78.6% Fibonacci level.
- Take Profit: Near the 0.0% level or next major support/resistance zone.
- Optional: Use a trailing stop once the price breaks past the 38.2% level.
Strategy Tips
- Only trade in the direction of the prevailing trend.
- Use this strategy during active trading sessions for better volatility.
- Avoid trading during low-volume periods or against major news events.
Adjustable Parameters & Settings
Analysis, depth, leg, line color, font, rectangle fill, risk money, ATR period, entry
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
More Info About This Indicator
Trading Instruments: works for any currency pair + any other trading instrument
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works for any time frame
Indicator Type: Fibonacci signals
How to install the Automated Fibonacci Indicator Forex System in Metatrader 4?
- Unzip the Automatic Fibonacci Indicator file
- Copy and paste all 3 indicators in the MQL4 indicators folder
- Copy and paste the template in the MQL4 templates folder
- You can access the indicator folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste indicators here)
- You can access the template folder from the top menu as follows:
- File > Open Data Folder > templates (paste template here)
