FiboPivotsIndicator
- インディケータ
- Irina Cherkashina
- バージョン: 1.0
- アクティベーション: 5
FiboPivotsIndicator is the indicator for intraday traders looking for key breakout levels and target levels on the chart. It uses automatic Fibonacci extensions and pivot points to highlight price event areas.
FiboPivotsIndicator is a unique combination of Fibonacci extensions and pivot points for price action traders.
This breakout trading tool is suitable for both trend following and swing trading strategies. Indicators such as moving averages, stochastics and RSI are well suited for this Indicator
FiboPivotsIndicator makes trading quite easy. This simple MT5 trading indicator only requires you to follow a few simple rules.
For buy orders, wait until the price breaks the pivot levels. Execute a buy order whenever the price candle closes above the market reversal. Also set your stop loss below the current market low.
You will find three Fibonacci levels above and below the baseline. These Fibonacci extension levels show possible price targets. So, when you are in a buy order, target the higher Fibonacci channel as your take profit levels.
This indicator plots a Fibonacci extension channel based on the 38%, 50% and 62% price retracement levels. Target higher Fibonacci extensions for greater returns than planned risks.
A price break below the pivot level signals a bearish breakout. In this case, we will open a sell order below the pivot area. In addition, we will place a stop loss above the recent market high.
When you are in a sell order, hold the entry until the price hits the Fibonacci channel area. Exit the sell order whenever the price refuses to break below the Fibonacci support.
Please note that when trading with FiboPivotsIndicator, you must aim for a profit of at least 2R compared to the planned risk.