Placing Fib Lines on the MT4 Platform

The 5th option on the MT4 platform insert menu is Fibonacci Lines. Fib Lines Button has the following submenu buttons illustrated below:

Fibonacci on the MetaTrader 4 Platform

Fibonacci Lines

XAUUSD Fib Retracement
Gold Fibo Time Zones
Gold Fibo Fan
Gold Fib Arcs
XAUUSD Fib Expansion

XAUUSD Fibonacci Retracement

The Fibo retracement can be placed on the a chart from the Fibonacci retracement button. Fib retracement is used to estimate where a trading price retracement is likely to reach. The Fibo retracement areas are plotted as cited below. To learn and know how to draw & use Fib Retracement Levels study the guide: How to draw Fibonacci Retracement Levels:

Fibonacci Retracement Levels Drawn on a Chart on the MetaTrader 4 Software Platform

XAUUSD Fibonacci Time Zones

The Fib time zones are Fib lines drawn at different Fib timelines, these Fib time levels are calculated using the Fibonacci points 1, 2, 3, 5, 8, 13, 21, 34. The Fib 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 Fib time zones are shown below, at these time lines price changes are likely to occur based on analysis of Fibonacci time zones:

Fibonacci Time Zones in MT4 Platform Software

XAUUSD Fib Fan

The Fibo fan is drawn between two chart points & then three additional lines below the market trend are drawn as the fans, these are 38.2 %, 50.00% & 61.80% Fibonacci retracement levels. Xauusd trading price is likely to bounce and continue in the original direction after price retraces to any of these fan lines.

The Fib Fan Lines are drawn just as shown below:

Fibo Fans in the MetaTrader 4 Platform

XAUUSD Fib Arcs

Fibonacci arcs are plotted using 2 chart points, the arcs are then drawn such as shown below & these arcs represent 38.2%, 50.0% & 61.8% Fibonacci retracement levels.

Fibo Arcs Representing Fib Retracement Zones on a Trading Chart

XAUUSD Fibonacci Expansion

The Fib expansion is used to identify the most probable level at which traders should set their take profit levels based in Fib expansion level 61.8% & 100.0% expansion levels. The Fibo expansions are also referred to as Fib Extension Levels or Fib Projection Levels by some traders & these Fibonacci Extension areas are drawn like is illustrated below. Tutorial: How to Draw Fibonacci Expansion Levels:

How to draw Fib Lines and other Fibonacci studies like Fib Expansion and Retracement on the MetaTrader 4 Platform

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