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Auto Fibonacci Fan Indicator for MT4

Name: Auto Fibonacci Fan Indicator - MT4 - FREE DOWNLOAD
Availability: InStock

The Auto Fibonacci Fan Indicator is a powerful tool that leverages Fibonacci ratios to identify support and resistance levels. Traders can use this indicator to make informed decisions based on trend direction. Here are the key details:

Minimum Deposit

There is no specific minimum deposit requirement to use the Auto Fibonacci Fan Indicator. However, it’s essential to have sufficient capital to trade comfortably. Consider your risk tolerance and account size when deciding how much to deposit.

Time Frame

The Auto Fibonacci Fan Indicator works well on various time frames, but longer time frames tend to yield more reliable signals. Consider using it on daily (D1) or four-hour (H4) charts for better accuracy.

Currency Pairs

The indicator can be applied to any currency pair. However, consider focusing on major pairs like EUR/USD, GBP/USD, or USD/JPY. These pairs tend to have higher liquidity and tighter spreads.

Auto Fibonacci Fan Indicator

How the Indicator Works

Fibonacci Ratios: The indicator calculates five lines based on Fibonacci ratios: 23.6%, 38.2%, 50%, 61.8%, and 80.9%. These levels act as both support and resistance.
Trend Direction:
- Bullish Trend: When the indicator plots blue lines, it signals an upward trend. Traders can enter long positions or exit short positions.
- Bearish Trend: Red lines indicate a downtrend. Traders should consider short positions or exit long positions.
Signal Confirmation:
- Combine the Auto Fibonacci Fan Indicator with other tools like the RSI or MACD for additional confirmation.
- Look for confluence between the indicator’s signals and other technical analysis methods.