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Auto Fibonacci Button

5

Auto Fibonacci Button

The Fibonacci retracement is a popular and reliable technical analysis tool for traders to determine support and resistance areas. 

It employs the "Golden Ratio," a mathematical pattern seen throughout nature and even the universe, to forecast particular levels of support level and resistance level. 

This tool is generated in technical analysis by dividing the vertical distance between two extreme points on the chart (typically a peak and a low) by the important Fibonacci coefficients of 23.6 %, 38.2 % , 50 % , 61.8 % , and 100 % .

Because so many traders utilise this trading approach and keep an eye on these price levels, the Fibonacci levels frequently become a self-fulfilling prophesy.

A Fibonacci retracement tool is available on the MetaTrader 4 platform, which allows the user to draw one on the chart.


But how do you represent this on a graph? 

Use "Auto Fibonacci Button"
Avis 1
lauro1956
5267
lauro1956 2024.10.13 10:46 
 

Excellent guide from Mr. Lee

Very clear, simple and effective

5 stars

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ENIGMERA : Le cœur du marché https://www.enigmera.com Introduction Cet indicateur et ce système de trading constituent une approche remarquable des marchés financiers. ENIGMERA utilise les cycles fractals pour calculer avec précision les niveaux de support et de résistance. Il indique la phase d'accumulation authentique et donne une direction et des objectifs.  Un système qui fonctionne que nous soyons dans une tendance ou une correction.  Comment fonctionne-t-il ? ENIGMERA comprend trois l
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lauro1956
5267
lauro1956 2024.10.13 10:46 
 

Excellent guide from Mr. Lee

Very clear, simple and effective

5 stars

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