Fibonacci Killer Indicator for MT4 Download – Free – [TradingFinder]

The Fibonacci Killer Indicator is designed based on Fibonacci Retracement Levels in MetaTrader 4. This indicator automatically plots the 38.2 Fibonacci level on the latest swing and triggers an alert when the price approaches this zone.
The plotted level by this tool indicates the potential for a rapid reaction or short-term correction in price.

Fibonacci Killer Indicator Specification Table

The general specifications of the Fibonacci Killer Indicator are presented in the table below.

Fibonacci Killer Indicator at a Glance

The Fibonacci Killer Indicator is used to identify the retracement area in the direction of the main trend.
In bullish trends, this level usually represents the entry point of buyers and the continuation of upward movement.
In bearish trends, the same level marks the return zone for sellers and the start of the next downward wave.

Bullish Trend Condition

According to the 1-hour chart of GBP/USD, the indicator marks the 38.2 Fibonacci level based on the latest downward swing.
As shown in the chart, after a retracement and a touch of this level, the price reacts and starts a new upward move.
This reaction indicates the end of correction and continuation of the bullish trend.

Bearish Trend Condition

According to the 30-minute USD/CHF chart, the indicator draws the Fibonacci level as the retracement zone.
After the price approaches this level, selling pressure increases, and the market resumes its downward direction.
This reaction represents the dominance of supply over demand within the retracement area.

Fibonacci Killer Indicator Settings

The adjustable parameters in the Fibonacci Killer Indicator are as follows:

• Message Alert: Text alert on screen
• Sound Alert: Audio notification near Fibonacci level
• Sound File: Name of alert sound file
• Email Alert: Email notification
• How Close is Price to Fibonacci Level: Allowed distance between price and Fibonacci level for alert trigger

Conclusion

The Fibonacci Killer Indicator is a precise technical analysis tool that plots only the 38.2 Fibonacci level based on the latest price swing.
Price often reacts at this level and resumes the main trend from that area. With customizable text, sound, and email alerts, this indicator ensures that traders are notified instantly when the price approaches this critical zone.