Placing Fibonacci Lines on MT5 Platform
The fifth option on the MetaTrader 5 platform insert menu is Fib Lines. Fibonacci Lines Button has the following submenu MetaTrader 5 button keys shown below:
Fibonacci Stock on MetaTrader 5
Fib Lines
- Stocks Fib Retracement
- Stocks Trading Fib Time Zones
- Stocks Trading Fib Fan
- Stocks Trading Fib Arcs
- Stocks Fibonacci Expansion
Stock Fib Retracement
The Fibonacci retracement can be placed on the a Stocks chart from the Fibonacci retracement button. Fibonacci retracement is used to estimate where a stocks price retracement is likely to reach. The Fibonacci retracement levels are drawn as shown below. To learn how to draw and use Stock Fibonacci Retracement Levels read the tutorial: How to draw Stock Fibonacci Retracement Levels:
Stock Fibonacci Retracement Levels Drawn on a Stock Chart on The MetaTrader 5 Stocks Platform
Stocks Trading Fibonacci Time Zones
The Fibo time zones are Fibo lines drawn at different Fibo timelines, these Fibo time zones are calculated using the Fibo points 1, 2, 3, 5, 8, 13, 21, 34. The Fibo levels are 1+2=3, 2+3=5, 3+5=8, first number add to the next, the next added to the second and so on.
The Fibonacci time zones are shown below, at these time lines stocks price changes are likely to occur based on stocks technical analysis of Fibonacci time zones:
Fibonacci Time Zones in MetaTrader 5
Stock Trading Fibonacci Fan
The Fibonacci fan is drawn between 2 chart points and then 3 additional lines below the stocks trend are drawn as the fans, these are 38.20%, 50.00% & 61.8% Fibo retracement levels. The stocks price is likely to bounce and continue in the original direction after stocks price retraces to any of these fan lines.
The Fibonacci Fan Lines are drawn as shown below:
Fibonacci Fans on MetaTrader 5
Stock Trading Fibonacci Arcs
Fib arcs are drawn using two chart points, the arcs are then drawn as shown below & these arcs represent 38.2%, 50.0% & 61.8% Fibo retracement levels.
Fibonacci Arcs Representing Stock Fibonacci Retracement Zones on a Stocks Chart
Stock Fibonacci Expansion
The Fibo expansion is used to determine the most probable level at which traders should set their take profit levels based on Fibo expansion level 61.8% and 100.0% expansion levels. The Fibonacci expansion levels are also referred to as Stocks Fibonacci Extension Levels or Fibonacci Projection Levels by some traders & these Stocks Fibonacci Extension areas are drawn as shown below. Tutorial: How to Draw Stocks Fibonacci Expansion Levels:
How to draw Fib Lines and other Fibonacci studies like Stocks Fibonacci Expansion and Retracement on MetaTrader 5
