Forex Fibonacci Profit Swing Trading Strategy
Forex Fibonacci Profit Swing Trading Strategy:
Time Frames
-
5 min, 15 min, 30 min, 1H, 4H, daily.
Currencypairs:
– All major pairs. You may use it for EUR/USD, GBP/USD and all other major
pairs.
Fibonacci Trading with filter
Metarader Indicators:
Filter indicator
Attach the indicators to your chart
– The software will automatically determinate a current trend, HIGHs
and LOWs and print all the information on your chart:
Current trading opportunity – entry level, stop loss level, 3 take profit level
1 – Recommended stop loss level ( based on the Fibonacci numbers)
2- If a current trend is down ( bearish ) your entry level ( in this case SELL)
When a trend will change – the Fibonacci indicator will automatically
re-print all the entries, SL, TP for a new trend.
3- Take profit – level 1 ( normal)
4 – Take profit level 2 – aggressive
5 – Take profit level 3 – high aggressive
Built in high/low; open/close indicator
Daily high/low and open/close levels are strong support and resistance levels.
Those levels are used by the Fibonacci indicator and may help you
understand where you can expect price to go (optional). Usually high/low used by
traders to identify strong market level that helps to manage trades. In our case
you don’t have to worry about it – high/low and open/close is used by the
“Fibonacci indicator” software in combination with Fibonacci to optimize SL,
Entry, TP 1, TP 2, TP3 levels and print them on your charts.
Rules for Fibonacci Trading System
The Fibonacci indicator will show you exactly where to enter a trade, where to
exit and where to put a stop loss. These levels are based on Fibonacci levels and
work very well.
The Fibonacci indicator SELL signal with filter indicator that confirmed the entry (Sell Arrow).
The Fibonacci BUY signal with filter indicator that confirmed the entry (Sell Arrow).
Fibonacci Trading System exit position
Stop Loss
Place your stop loss exactly where the software advices you “STOP LOSS LEVEL”
– the price of SL printed in red on your chart ( in our case SL = 1.36327 ). Stop
will be calculated and printed on your chart automatically for each new trade.
1. Option I.
Set your own profit target, for example 20 pips per trade and exit all trades as
soon as you reach your profit target – do not wait until the price hits the
indicator’s “profit: level normal”. This is the safest way of trading and reduces
your risk level.
2. Option II
Exit trades when the price is close or touches the Fibonacci indicator “PROFIT:
LEVEL” level (either “profit level normal” or “profit level aggressive”). High
aggressive level is risky and should be used by experienced traders only.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Fibonacci Profit Swing Trading Strategy?
- Download Forex Fibonacci Profit Swing Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Fibonacci Profit Swing Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
