How to Draw Stock Fibo Retracement Areas Indicator in MT4 Software

Stocks Fibo Retracement Indicator

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

If you want to analyze some stock charts using this Fibonacci retracement line studies tool, it is already provided for in the MetaTrader 4 platform, the following procedure is used to add this Fibonacci retracement tool on the MetaTrader 4 Software. On The MetaTrader 4 stocks trading platform this fibonacci retracement tool will automatically draw the retracement levels on a stock chart once it is placed on the Stock chart.

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

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

After adding this fibonacci retracement tool on the MetaTrader 4 platform this fibonacci retracement stock technical indicator can then be accessed from "MT4 Line Studies Tool-Bar" as illustrated 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 tops 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 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 stock trend as shown below.

How to Place Stocks Trading Fibonacci Retracement on a Stocks Chart

To Place this fibonacci retracement tool on a stocks chart, click on the button shown above on the MetaTrader 4 software. Then select 2 chart points, the first point is where the stock trend starts and the second point is where the stock trend pull back is starting.