The Fibo Machine Pro Forex Indicator is relatively new in the market, providing traders with exact forex exit points and entry points for maximum profit by showing Smart Fibonacci Levels on your activity chart.
The Fibonacci is a unique sequence of numbers that can be used in many ways, but it has proven to work exceptionally well in the forex market.
The Fibo Machine Pro Forex indicator formula combines the Fibonacci numbers sequence with special unique formulas and forex trading secrets to generate the most profitable entry signal and take profit levels for you.
The Fibo Machine Pro Forex indicator is designed to work on M15, M30, H4, H1, and D1 timeframes, and importantly, it does not repaint. As a result, it has higher profitability with EURUSD, GBPUSD, EURJPY, USDJPY, GBPJPY, USDCHF, and USDCAD currency pairs.
How does it work? How to apply in trading?
Trading Rules Explanation
The Fibo Machine Pro Forex Indicator has a user-friendly interface. In the top left corner of the mt4 chart, the indicator displays exact target levels, market trend direction, and even time until the next candle. In addition, entry-level, stop loss(SL) levels and three take profits(TP) levels are displayed on your chart. Therefore, it boils down to your preference and forex trading experience, which one to use as taking profit level.
Safe Take Profit: This level is suitable for traders who are either new to forex, Fibonacci analysis or are freshly testing out the indicator. It offers a safe and controlled trading setup.
Medium Take Profit: This is the natural progression from the safe take profit level and is a level to aim for to achieve optimal profitability using the correct Risk/Reward ratio.
Aggressive Take Profit: This level should be used in rare cases only when the trend is powerful. That level provided by the indicator shows the most significant profit opportunity but also comes with the highest risk.
As always, to achieve results, remember about proper money management. To be a profitable forex trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid forex trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic mt4 currency pairs, wider spread, etc.
Set up the Fibo Machine Pro Forex Indicator in MT4.
Files Included
Indicators:
- FiboMachinePro.ex4
Templates:
- Fibo Machine Pro Forex Indicator. tpl
Installation Guide
Copy and paste indicator files into the MQL4 folder of the MT4 Forex trading platform.
You can open this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Similarly, copy and paste the template file to the Templates folder.
Now, right-click on the chart, and hover over Templates. You will have displayed a list of available systems; left-click the template name you want to run.
Bottom Line
The Fibo Machine Pro Forex Indicator is worth adding to your trading collection but remembers to have realistic expectations. Like any other technical analysis tool, it cannot provide accurate signals 100% of the time. Thus, it will give false signals occasionally. In addition, its performance will vary significantly depending on market conditions.
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