Fibonacci Indicators for MetaTrader 4

Fibonacci indicators in MetaTrader 4 are used to identify retracement and extension levels of price based on the mathematical ratios of the Fibonacci sequence. Tools such as Fibonacci Retracement, Fibonacci Expansion, and Fibonacci Fan allow traders to determine potential support and resistance levels. These tools are drawn based on two or more price reference points, and the main ratio levels such as 23.6%, 38.2%, 50%, and 61.8% are automatically calculated. A key feature of these indicators is the ability to save custom settings and reuse them across different charts. The indicators provided by the Trading Finder team combine Fibonacci with other indicators such as the Relative Strength Index (RSI), MACD, and more to confirm market reversal points. For example, in a trend, combining the 61.8% level with a positive divergence in the RSI can generate an entry signal. These indicators run on standard data and support multi-timeframe analysis.