Introduction to the Fibo Machine Pro Forex System
The Fibo Machine Pro Forex System is a relatively new indicator in the market providing traders exact forex entry points and exit points for maximum profit by displaying Smart Fibonacci Levels right on your activity chart.
The Fibonacci is a special sequence of numbers that can be used in many ways but it has proven to work especially well in the forex market.
The ultimate formula used in the Fibo Machine Pro indicator combines the Fibonacci numbers sequence with special unique formulas and trading secrets to generate the most profitable signal and take profit levels for you.
The Fibo Machine Pro indicator is designed to work on M15, M30, H1, H4, and D1 timeframes, and most importantly, it does not repaint. It has higher profitability with EURUSD, GBPUSD, USDJPY, EURJPY, GBPJPY, USDCHF, and USDCAD currency pairs.
How does it work? How to apply in trading?
Trading Rules Explanation
The Fibo Machine Pro Forex System has a user-friendly interface. In the top left corner of the chart, the indicator displays exact target levels, trend direction, and even time until the next candle. In addition, entry-level, stop loss level and three take profits levels are displayed on your chart. Therefore, it boils down to your preference and 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 in order to achieve optimal profitability by using the correct Risk/Reward ratio.
Aggressive Take Profit: This level should be used in rare cases only when the trend is extremely strong. That level provided by the indicator shows potentially the largest profit opportunity, but it also comes with the highest risk.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Fibo Machine Pro Forex System in MT4?
- Fibo Machine Pro Forex System.tpl
Copy and paste indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to 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, hover over Templates. You will have displayed a list of available systems, left-click template name you want to run.
The Fibo Machine Pro Forex System is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions.
Fibo Machine Pro Forex System Free Download
To download the Fibo Machine Pro Forex System for Metatrader 4 (MT4) for free just click the button below: