Auto Fibo Trend Indicator
Platform: MT4 Type: Trend Last update: September 30, 2024The Auto Fibo Trend Indicator is combination of Fibonacci levels and trendlines. There is also a word ‘auto’ in its name, so it means that this indicator automatically does all the tough stuff like choosing the ideal moments to place Fibonacci extensions or looking for perfect spots to draw your trendlines. The Auto Fibo Trend completely replaces a human in those activities, so a trader can have more time and can place trades more easily.
When to open a trade with the Auto Fibo Trend indicator?
A trader is simply supposed to open a trade once a Fibonacci is drawn. The order should be placed within the 0 and 23.6 Fibo level. If you open a trade and the market price has already passed this levels, avoid the trade and wait for the next opportunity. The order should get closed when the market price hits the 61.8 Fibo level.
