How to Draw Energies Trading Fibo Retracement Levels Indicator on Meta Trader 4 Platform

MT4 Line Studies Tool Bar

To calculate these price pullbacks on the chart for example the MT4 we use Fib retracement zones tool as instanced on the screenshot below.

If you want to analyze some 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 energies trading platform this fibonacci retracement tool will automatically draw the retracement levels on a chart once it's placed on the chart.

To add this fibonacci retracement indicator tool on the MT4 platform, you can use the following shortcut procedure:

1. Click Insert2. Click Fibonacci3. Click Retracement

After adding this fibonacci retracement tool on the MT4 platform this fibonacci retracement technical tool 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 MetaTrader 4 Line Studies tool bar click "View" button at the top left corner of MT4 next to file, then click "Toolbars", Then Check "Line Studies". You can learn how to use MetaTrader 4 Line Studies Tool Bar on the MT4 platform using a demo practice account.

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

How to Place Energies Trading Fib Retracement on a Energies Trading Chart

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