Trade Forex Trading

Learn Forex Trading

How to Draw Fibonacci Retracement Levels on MetaTrader 4 Platform

To calculate these price pullbacks on the chart for example the MetaTrader 4 we use Fibonacci retracement levels tool/indicator as shown on the image below.


If you want to analyze some charts using this tool, it is already provided for in the MT4 platform, the following procedure is used to add this tool on the MetaTrader 4 Software. On The MT4 this tool will automatically draw the retracement levels on a chart once it is placed on the the Forex chart.


To add this tool on the MetaTrader 4 software, you can use the following shortcut method:

1. Click Insert
2. Click Fibonacci
3. Click Retracement


How to add Fibonacci Retracement tool on the MetaTrader 4 Software


After adding this tool on the MT4 platform this indicator can then be accessed from "MetaTrader 4 Line Studies Tool Bar" as shown below.

Fibonacci retracement chart indicator on Metatrader 4

This tool is located on MetaTrader 4 (Line Studies Toolbar), to go to this toolbar click "View" at the top left corner of MetaTrader 4 next to file, then click "Toolbars", Then Check "Line Studies". You can learn how to use it on the MetaTrader 4 using a demo practice account.


Regulated Forex Broker

Takes 4 to 6 weeks to open an account, open early: Read The Article "Account Opening Procedure"

Choose the Best Forex Broker: Read The Article "Best Forex Broker"

Up To $6.67 Dollars Bonus for Every Lot Traded Get Up To $6.67 For Every Lot Traded


Below is an illustration of the Fibonacci retracement tool, we always plot the indicator between two points, point 1 and point 2, in the direction of the Forex trend as shown below.


Example of how to draw fibonacci retracement levels


How to Draw Fibonacci retracement Levels Tool



How To Place Fibonacci Retracement on a Forex Chart

To Place this tool on a chart, click on the button shown above on the MetaTrader 4 software. Then select 2 chart points, the first point is where the trend starts and the second point is where the trend pull back.

Up To $6.67 Dollars Bonus for Every Lot Traded Get Up To $6.67 For Every Lot Traded

Market Outlook: Very Bullish for EURUSD, and EURJPY - Also for GBPUSD, GBPJPY, and AUDUSD (No Need For Technical Analysis - This is Risk Appetite -Risk Averse Speculation).

Do Not Be Left by This Opportunity: Open an account and start buying Euros and position yourself early - Risk appetite speculation has already started. - Others are already profiting - Read the article How to Fast Track Account Opening and Open an account now.

Strategy: Buy the retracements and use 1 Hour and M15 Charts to look for best entry and exit points - Also checkout Money Management Rules.

Poland FX Seminar Gala

XM Account Holders Attend Poland FX Seminar

Malaysia Seminar

XM Account Holders Phillipines Seminar

XM Account Holders Thailand Seminar

Malaysia Forex Seminar

Hungary Forex Seminar

Greece Forex Seminar

XM Account Holders Hungary Seminar

XM Account Holders Thailand Seminar

European Forex Broker XM is Licensed and Regulated in 12 Countries; 10 European Countries, Australia and UK

XM Forex Broker Regulation Licenses

Should you open an XM Account this is exactly how it looks like:

Forex Account Secure Clients' Area - Trader Cabinet

Up To $6.67 Dollars Bonus for Every Lot Traded

Loyalty Bonus Points - Up To $6.67 Dollars Bonus For Every Lot Traded

Bonus Points

Forex Trading Accounts Members Area - Withdraw and Deposit Options

Real Forex Trading Account Withdraw and Deposit Options

XMP Forex Loyalty Bonus Program

Silver and Gold Online Trading

CFDs Trading and Forex Trading

50% and 20% Bonus

$5,000 Forex Bonus

Bonus Points

Regulated Broker