Fibo Retracement Indicator for MT4

Introduction:

The Fibo Retracement Indicator is a helpful MT4 tool that automatically plots Fibonacci retracement levels based on recent market swings. These levels are widely used by professional traders to forecast potential reversal zones, pullback areas, and support/resistance levels. By automating the drawing process, this indicator allows traders to apply Fibonacci analysis with speed and accuracy, without manual chart work.

Specifications:

• Platform: MetaTrader 4 (MT4)
• Type: Fibonacci Retracement Indicator
• Function: Automatically draws Fibonacci retracement levels based on market highs and lows
• Timeframes: Suitable for all timeframes
• Pairs: Compatible with all forex pairs
• Visuals: Color-coded Fibonacci levels with customizable appearance
• Customization: Adjustable swing detection and level settings
• Use Cases: Trend correction analysis, pullback entries, support and resistance mapping

This indicator simplifies technical analysis by providing dynamic Fibonacci zones where price may react. It’s an excellent tool for traders who use price action, confluence strategies, or want to enhance their timing on trend continuation and reversal setups.

Risks Disclaimer:

All indicators and tools provided are for educational and informational purposes only. They do not constitute financial advice or investment recommendations, and they do not guarantee any specific trading results or profits. Forex trading involves significant risk and may not be suitable for all investors. Users are solely responsible for their trading decisions. Please trade responsibly and consult a licensed financial advisor if needed.