Technical Indicators for MetaTrader 4

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MetaTrader 4

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Information

Indicators
MetaTrader 4
Mohamed yehia Osman
1.4
5

Overview

Possible Price reversals levels - based on  Fibonacci + Support +  Resistance Levels

Auto levels drawn based on input index (Bars Count ) 

---->>> Price Over 50% Fibo line ---> UP TREND ---> BUY when price drop near Support Lines 

---->>> Price Down 50% Fibo line ---> DOWN TREND ---> SELL when price goes up  near Resistance Lines 

--->>> The more close price levels ----> the more possibility for price reversals

--->>> are you a scalper --> try it on M1 charts with big index like 5000 bars  or more 

one single input = index = numbers of bars for calculation of Fibonacci levels and support resistance levels during bars period

other inputs related to colors ,thickness and wideness  of levels 

can be used on any time frame / any symbol

Strategy 1:

---->>> Price Over 50% Fibo line ---> UP TREND ---> BUY when price drop near Support Lines 

---->>> Price Down 50% Fibo line ---> DOWN TREND ---> SELL when price goes up  near Resistance Lines  

Strategy 2:

--->>> finding areas with many NEAR (close) levels as it has more possibility for price reversal

--->>> The more close price levels ----> the more possibility for price reversals


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