How to Draw CFD Fibo Retracement Areas Technical Indicator on MetaTrader 4 Platform

CFDs Fib Retracement Technical Indicator

To calculate these cfds price pullbacks on the cfds chart for example the MT4 we use Fibonacci retracement levels tool/indicator as shown on the image below.

If you want to analyze some cfd charts using this Fibonacci retracement line studies tool, it is already provided for in the MT4 platform, the following procedure is used to add this Fibonacci retracement tool on the MT4 Software. On The MT4 cfds trading software this fibonacci retracement tool will automatically draw the retracement levels on a cfd chart once it is placed on the CFD chart.

To add this fibonacci retracement technical indicator tool on the MT4 platform, you can use the following short cut method:

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

After adding this fibonacci retracement tool on the MT4 software this fibonacci retracement cfd technical indicator can then be accessed from "MT4 Line Studies Tool Bar" as shown below.

This fibonacci retracement tool is located on MT4 (Line Studies Toolbar), to go to this MT4 Line Studies tool bar click "View" button at top left corner of MT4 next to file, then click "Toolbars", Then Check "Line Studies". You can learn how to use MT4 Line Studies Tool Bar on the MT4 platform using a demo practice account.

Below is example of the Fibonacci retracement tool, we always draw the fibonacci retracement indicator between two chart points, point 1 and point 2, in direction of the cfd trend as shown below.

How to Place CFDs Fibonacci Retracement on a CFD Chart

To Place this fibonacci retracement tool on a cfd chart, click on the button shown above on the MT4 software. Then select 2 chart points, the first point is where the cfd trend starts and the second point is where the cfd trend pull back is starting.