How Do You Use Fibonacci Retracement on MT4?

How to Trade with Fibonacci Retracement Technical Indicator on MT4

How to Use Fibonacci Retracement Levels on MetaTrader 4

The procedure for how to use Fibonacci Retracement Technical Indicator & how to add the Fibonacci Retracement Tool on the MT4 Platform is explained below:

Fibonacci Retracement Levels Indicator tool on the MetaTrader 4 platform will automatically draw the retracement levels on a xauusd chart once it is placed on the gold chart.

To add this Fibonacci Retracement Levels tool on the MetaTrader 4 platform, you can use the following short cut method:

1. Click Insert 2. Click Fib 3. Click Retracement

How Do You Use Fibonacci Retracement on MT4?

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

How to Trade with Fibonacci Retracement Technical Indicator in MetaTrader 4

This Fibonacci Retracement tool is located on MetaTrader 4 (Line Studies Toolbar), to go to this toolbar click "View" button key at the tops left corner of MetaTrader 4 platform next to file, then click "Toolbars", Then Check "Line Studies". You can learn how to use Fibonacci Retracement Levels tool on the MT4 platform using a demo practice gold trading account.