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Setting up Fibonacci Expansion in MetaTrader 4 & Changing its Settings

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

How to Set This Indicator Tool on the MT4

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

1. MT4 Line Studies Tool Bar

Where Can You Find Gold Fibonacci Extension Indicator MetaTrader 4?

2. Customize Line Studies Tool-bar

Right Click Customize button (shown below) >>> A drop-down menu pops and shows up, Select & Choose Customize >>>

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

3. Set This Tool in MT4 Platform Software

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

Setting up Fibonacci Extension Indicator on the MT4 Software - Fibo Expansion Levels on Chart Example

4. Fibo Extension Indicator Tool Added

Setting up Fibonacci Expansion Indicator on MetaTrader 4 Platform Software - How Do I Use Fib Projection Levels on MT4 Software?

Shortcut of How to Add

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

  1. Press "Insert Menu"

  2. Click Fib
  3. Click Expansion

Setting up Fibonacci Expansion Zones Technical Indicator in the MT4 Software - How to Draw Fibonacci Projection in MT4

Steps on How to Draw Extension

Steps. Once you as a trader 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 technical technical 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 Fibonacci Expansion MetaTrader 4?

How to Shift This Indicator Tool on a Chart

Steps. Once you've drawn this indicator, you may & might need to move one chart point or another to the precise position where you strictly want. These three chart points are marked 1, 2 & 3 and these are used to change the indicator parameters after this Fibo indicator 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), 3 cursor points will display which are tagged 1 2 3, you can then use these Three points to shift & fit the Fibo indicator accordingly to your chart (just click on the point you want and move it).

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