Fibo Pivot Candle Bar Indicator in MetaTrader 4 Download

The Fibo Pivot Candle Bar indicator is a specialized tool for generating trading signals based on pivot levels and Fibonacci ratios in MetaTrader 4.

Technical traders can use this indicator to identify buy and sell signals and determine support and resistance levels through the values shown in the candle bar panel.

Pivot and Fibonacci Candle Bar Indicator Table

The following section contains information about the Pivot and Fibonacci Candle Bar Indicator.

Pivot and Fibonacci Candle Bar Indicator at a Glance

The Fibo Pivot Candle Bar indicator is a practical tool for traders who aim to identify entry and exit points on charts using trading strategies.

By providing short-term signals, this indicator is especially suitable for scalpers, allowing them to analyze candle bar support and resistance levels via the panel.

Additionally, with two candle bar panels, it provides traders with both Fibonacci ratios and pivot price levels as reference points for market analysis.

Uptrend in the Pivot and Fibonacci Candle Bar Indicator

On the 15-minute AUD/USD chart, the Fibo Pivot Candle Bar indicator is applied.

Traders can receive buy signals and analyze candle bar panels – pivot levels on the right and Fibonacci on the left – to identify support and resistance levels. Based on price behavior, they can then enter buy trades and exit at appropriate conditions.

Downtrend in the Pivot and Fibonacci Candle Bar Indicator

On the 1-minute USD/CAD chart, the candle bar panel generates a sell signal.

Traders can use the Fibo Pivot Candle Bar indicator to receive sell signals and identify trading opportunities.

By analyzing the candle bar panel, pivot and Fibonacci levels of price movement are also displayed for decision-making.

Pivot and Fibonacci Candle Bar Indicator Settings

The settings of the Pivot and Fibonacci Candle Bar Indicator are provided below:

• Choose Fonts Model: Select font type;
• Font Colors: Select font colors;
• Color for Bar Up and Bull Candle: Select color for bullish bar;
• Color for Bar Down and Bear Candle: Select color for bearish bar;
• Color for Line Graph: Select signal line color;
• If the bar has not been passed by the price movement: Select bar color;
• ALERT: Enable/disable signal alerts;
• EMAIL: Enable/disable sending alerts to mailbox;
• SOUND_ALERT: Enable/disable sound alerts;
• Sound Alert File: Set sound file for alerts.

Conclusion

The Fibo Pivot Candle Bar indicator is a practical tool for generating short-term trading signals in the forex market.

Traders can use this indicator to identify both bullish and bearish signals while simultaneously monitoring Fibonacci and pivot support and resistance levels through the candle bar panel.