Fibonacci Bands Trading System Forex
Fibonacci Bands Trading System makes use of a mix of a number of indicators and oscillators in an effort to develop a method that intently follows the market pattern and generates the commerce alerts inside the pattern course. This foreign currency trading system additionally helps merchants to outline the cease loss and commerce exit areas of every open commerce positions.
Fibonacci Bands Trading System is relevant to commerce any sort of foreign exchange foreign money pair across the market. Furthermore, this foreign currency trading system matches nice with all types of timeframe charts inside the Metatrader 4 buying and selling platforms.
Desk of Contents
FIBONACCI BANDS TRADING SYSTEM OVERVIEW
After the set up of Fibonacci Bands Trading System on the MT4 terminal, your buying and selling chart will seem just like the picture beneath:
FIBONACCI BANDS TRADING SYSTEM ANATOMY
MultiInd: Plots the commerce alerts utilizing up/downward arrows across the worth bars. A inexperienced upward arrow beneath the value bar is taken into account because the purchase sign and a pink downward arrow above the value bar represents the promote entry sign.
TLab Fibo Bands: Makes use of 3-set off a number of bands in an effort to scale the dynamic vary of the market momentum. These bands assist to find out the potential retrace or pullback degree of the value earlier than market re-joins the key pattern.
Purchase Zone Fibo: Works as like as Transferring Averages in an effort to filter the lengthy entry alerts generated by different indicators of the system. Value closing above its degree is taken into account because the inexperienced mild to go lengthy.
Promote Zone Fibo: Fairly just like Purchase Zone Fibo however works on brief entry functions solely. Value closing beneath its degree in a downtrend market is taken into account as a affirmation to go for the brief entry.
MultiIndicator Alerts V1.3: It plots the crossover alerts in an effort to outline the market momentums. Its fast-MA(inexperienced) strikes above the sluggish MA(pink) represents the bullish crossover and an reverse state of affairs is taken into account because the bearish crossover sign of the market momentum.
MACD: MACD works because the momentum filter sign generated by MultiIndicator Alerts V1.3. MACD stays constructive means the present bullish momentum of the market remains to be intact. Alternatively, MACD with a damaging worth represents the validity of the present bearish momentum of the market.
GENERALLY ACCEPTED USE OF FIBONACCI BANDS TRADING SYSTEM
BUY CONDITIONS
MultiInd plots an upward inexperienced arrow beneath the value bar
Value is supported by the decrease TLab Fibo Bands
A bullish bar is fashioned proper above the Purchase Zone Fibo degree
MultiIndicator Alerts V1.3 plots the bullish crossover sign carrying a constructive worth
MACD turns constructive
Purchase triggers when the above situations are met
Set cease loss beneath the decrease TLab Fibo bands
Exit lengthy/take revenue each time MultiInd plots a downward pink arrow above the value bar
SELL CONDITIONS
MultiInd plots a downward pink arrow above the value bar
Value is resisted by the higher TLab Fibo Bands
A bearish bar is fashioned proper beneath the Promote Zone Fibo degree
MultiIndicator Alerts V1.3 plots the bearish crossover sign carrying a damaging worth
MACD turns damaging
Promote triggers when the above situations are met
Set cease loss above the upper TLab Fibo bands
Exit brief/take revenue each time MultiInd plots an upward inexperienced arrow beneath the value bar
