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MAC-Fibo indicator – indicator for MetaTrader 4

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Old 01-03-2018, 14:59
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Default MAC-Fibo indicator – indicator for MetaTrader 4

eurusdfh1fmacfibo_small.gif

UPDATED ON 21-MAY-2012:
Below changes done in v1.1:
1. Done bar adjustment. Now it looks at 2 previous bars for trend determination.
2. Alert added.

--------------------–

MACFibo trading strategy was the winner of March’s Best Forex Trading System Contest at babypips.com. This trading system uses 3 moving averages to determine trade opportunities and Fibonacci extensions to determine stoploss and profit targets.

This is the indicator based on MACFibo trading strategy. More details about this strategy can be found here and babypips forum here.

SHORT SIGNAL:
When 5EMA crosses 20SMA down:
Draw 2 points as below:
POINT A; Candle close price that confirmed the downside crossover
POINT B: highest price of the current wave prior to the crossover,
Profit Target: @ 161.8 fibo level
Stop Loss: maximum 38.2 (minimum @ 78.6) based on your risk appetite.

Long SIGNAL:
When 5EMA crosses 20SMA up:
Draw 2 points as below:
POINT A; Candle close price that confirmed the upside crossover
POINT B: lowest price of the current wave prior to the crossover,
Profit Target: @ 161.8 fibo level
Stop Loss: maximum 38.2 (minimum @ 78.6) based on your risk appetite.

Exit mechanism for losing trades, if stoploss yet to hit: if 5EMA cross 8SMA in direction opposite of your open trade.

How to install MAC-Fibo indicator – indicator for MetaTrader 4.mq4?


    Download MAC-Fibo indicator – indicator for MetaTrader 4.mq4
    Copy MAC-Fibo indicator – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
    Start or restart your Metatrader 4 Client
    Select Chart and Timeframe where you want to test your MT4 indicators
    Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
    Right click on MAC-Fibo indicator – indicator for MetaTrader 4.mq4
    Attach to a chart
    Modify settings or press ok
    Indicator MAC-Fibo indicator – indicator for MetaTrader 4.mq4 is available on your Chart

How to remove MAC-Fibo indicator – indicator for MetaTrader 4.mq4 from your Metatrader Chart?


    Select the Chart where is the Indicator running in your Metatrader 4 Client
    Right click into the Chart
    "Indicators list"
    Select the Indicator and delete

Click here below to download:

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