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Setting up Fibonacci Expansion in MetaTrader 4 and Changing its Settings

The steps below show how to draw these levels, how to use this tool & how to change its settings.

How to Add This Indicator Tool on MetaTrader 4

Steps: This tool is not shown by default in MT4 settings, if the button key doesn't appear on your MetaTrader 4 platform, (no need for you to download this indicator) then find the 'MetaTrader 4 Line Studies Tool bar' shown below & follow the steps explained below:

1. MetaTrader 4 Line Studies Tool-Bar

Where Can You Find Gold Fibonacci Extension Technical Indicator MetaTrader 4?

2. Customize Line Studies Tool Bar

Right Click Customize button (shown below) >>> A drop down menu pops up, Select Customize >>>

How to Use Fibo Expansion MT4 - Fibo Expansion Trading Indicator Analysis

3. Place This Tool on MT4

Choose the expansion tool from the pop-up panel that will then appear >>> Click Insert button >>> Press Close. (Shown Below)

Setting up Fibonacci Extension Technical Indicator in MT4 - Fibo Expansion Levels on Chart Example

4. Fibo Extension Technical Indicator Tool Added

Setting up Fibonacci Expansion Technical Indicator on MT4 - How Do I Use Fibonacci Projection Zones on MetaTrader 4 Platform?

Short-cut of How to Add

You can also use this shortcut instead of the above technique, do this:

  1. Press "Insert Menu"

  2. Click Fib
  3. Click Expansion

Setting up Fibonacci Expansion Zones Indicator on MT4 - How to Draw Trading Fib Projection in MT4

Steps on How to Draw Extension

Steps. Once you have added this button, you can place this indicator by selecting it & drawing it on a xauusd chart. 3 points will be marked 1, 2 & 3, choose the Fibo indicator, place the indicator on chart point 1 & while still holding down the mouse button drag the mouse upward to chart point marked 2.

Fibo Expansions on Chart Example - How Do You Trade Fibo Expansion MetaTrader 4?

How to Shift This Indicator Tool on a Chart

Steps. Once you've drawn this indicator, you may need to move one chart point or another to the precise position where you precisely want. These three chart points are marked 1, 2 & 3 & these are used to change the indicator parameters after this Fibo indicator tool has been drawn on a chart.

To change the technical indicator parameters: do this, doubleclick the technical indicator, it pops up as dotted lines (illustrated above), three cursor points will show which are marked 1 2 3, you can then use these Three points to shift & fit the Fibo indicator tool accordingly to your chart (just click on the point you want & move it).

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