Placing Fibonacci Lines in MT5 Platform
The fifth option on the MT5 energies trading platform insert menu is Fibonacci Lines. The Fibonacci Lines Button has the following sub menu MetaTrader 5 buttons shown below:
Fibonacci Energies Trading on MT5 Software
Fib Lines
- Energies Trading Fib Retracement
- Energies Trading Fib Time Zones
- Energies Trading Fib Fan
- Energies Trading Fib Arcs
- Energies Trading Fib Expansion
Energies Trading Fib Retracement
The Fibonacci retracement can be placed on the a Energies chart from the Fibonacci retracement button. Fib retracement is used to estimate where a energies price retracement is likely to reach. The Fibo retracement levels are drawn as shown and illustrated below. To learn how to draw and use Energies Fibo Retracement Levels read the tutorial: How to draw Energies Trading Fibo Retracement Levels:
Energies Trading Fibo Retracement Levels Drawn on a Energies Trading Chart on The MT5 Energies Trading Platform
Energies Trading Fib Time Zones
The Fibonacci time zones are Fibo lines drawn at different Fibonacci timelines, these Fibo time zones are calculated using the Fibonacci points 1, 2, 3, 5, 8, 13, 21, 34. The Fibonacci levels are 1+2=3, 2+3=5, 3+5=8, first number add to the next, the next added to the second and so on.
The Fibonacci time zones are shown below, at these time lines energies price changes are likely to occur based on energies technical analysis of Fibonacci time zones:
Fibonacci Time Zones on MT5 Software
Energies Trading Fibonacci Fan
The Fibonacci fan is drawn between two chart points and then three additional lines below the energies trend are drawn as the fans, these are 38.2%, 50.0% and 61.8% Fibonacci retracement levels. The energies price is likely to bounce and continue in the original direction after energies price retraces to any of these fan lines.
The Fibo Fan Lines are drawn as shown and illustrated below:
Fibonacci Fans on MT5 Software
Energies Trading Fib Arcs
Fib arcs are drawn using two chart points, the arcs are then drawn as shown & illustrated below & these arcs represent 38.2%, 50.0% & 61.8% Fibonacci retracement levels.
Fibonacci Arcs Representing Energies Trading Fibonacci Retracement Zones on a Energies Trading Chart
Energies Trading Fibonacci Expansion
The Fibonacci expansion is used to determine most probable level at which traders should set their take profit levels based on Fibo expansion level 61.8% & 100.0% expansion levels. The Fibo expansion levels are also referred to as Energies Trading Fibo Extension Levels or Fibonacci Projection Levels by some traders & these Energies Trading Fibo Extension areas are plotted as shown and illustrated below. Tutorial: How to Draw Energies Fibonacci Expansion Levels:
How to draw Fib Lines and other Fibonacci studies like Energies Trading Fibonacci Expansion and Retracement on MT5 Software
