Trading Fibonacci MT4 Indicator -The FiboQuantum Review
What is about? Fibo Quantum is an MT4 Indicator based on the Fibonacci Sequence & the Golden Mean
The Fibo Quantum is an advanced algorithm that runs on MT4 and generates trading signals based on the Fibonacci numbers and proportions. The indicator shows exactly when to open and close trades in order to achieve the highest possible profit. Furthermore, Fibo Quantum will show you where to place your Take-Profit and Stop-loss levels. The indicator is developed by Karl Dittmann.
Fibo Quantum Algorithm Features
These are some key points when trading with FiboQuantum:
□ Trades any Forex Pair in Multiple Timeframes (M15, M30, H1, H4, and D1)
□ Shows exact points for entering/exit (Includes Take-Profit and Stop-Loss levels)
□ Price Volatility Detection
□ Multiple Trading Styles and 3 different modes (Conservative, Normal, and Aggressive)
□ Never Re-Paints
□ Signal alerts sent via email, pop-up and mobile push notifications
How to Use FiboQuantum
After adding FiboQuantum on MT4, the indicator starts drawing all levels on every chart it is applied. These levels include Buy, Sell, 3 Take-Profits, and Stop-Loss levels. Once the price of an asset hits the Entry level, you open the trade and place the suggested Stop-Loss. Then, you place one of the suggested 3 Take-Profit levels. If the price hits the Take-Profit level and you open the next trade once the price reaches a new Buy or Sell.
MT4 / MT5 Fibonacci Indicators
Prices of financial instruments tend to move in long-term circles. These circles include several waves and five times more sub waves. The application of a Fibonacci indicator can prove helpful in determining areas of potential price reversals within these waves and their sub waves.
Fibonacci ratios suggest general price areas and not exact price levels and therefore we must use another tool to confirm any decision such as an indicator, candlestick formation, price pattern, etc. Don't blindly accept reversals near Fibonacci levels. Always confirm your entry signals and trade them very selectively. Adding a Fibonacci Indicator into an existing trading system can bring several benefits:
Identify high-probability trades
Place accurate stop-loss orders and thus minimizing the loss potential
Identify low-risk entries at the early stages of strong trends
Forecast potential profit targets
Boost the average Reward/Risk ratio
These are some popular Fibonacci Indicators for MetaTrader-4 and MetaTrader-5. Only the first indicator is commercial, all the others are free. The advantage of the commercial Fibo Machine is that it generates specific trading signals (entry, take-profit, and stop-loss) and delivers them via email. From the six indicators that are presented below, the first 4 are coded for MT4 and the last 2 for MT5.
For those who are beginners and don't know how to insert indicators into MT4 / MT5, there is a short tutorial at the end.
Find Trading Tools and Tutorials:
eBOOK: TRADING WORLD MARKETS USING PHI AND THE FIBONACCI NUMBERS (2018)
Complete Guide to Fibonacci Trading with Reference to Elliott Waves, Gann Numbers, and Harmonic Patterns