How Do I Use Fibonacci Retracement on MetaTrader 4?

How to Trade with Fibonacci Retracement Technical Indicator on MetaTrader 4

How to Use Fibonacci Retracement Levels on MT4

The procedure for how to use Fibo Retracement Technical Indicator & how to add the Fibonacci Retracement Tool on MT4 Platform is described below:

Fibonacci Retracement Levels Indicator tool on the MT4 platform will automatically draw the retracement levels on a gold chart once it is placed on the xauusd chart.

To add this Fibonacci Retracement Levels tool on MT4 software, you can use the following short-cut technique:

1. Click Insert 2. Click Fibonacci 3. Click Retracement

How Do I Use Fibo Retracement in MT4?

After adding this Fibonacci Retracement Levels tool indicator on MT4 platform this indicator can then be accessed from 'MetaTrader 4 Line Studies Tool-Bar' as shown below.

How to Trade with Fibonacci Retracement Technical Indicator in MT4

This Fibonacci Retracement tool is located on MT4 (Line Studies Toolbar), to go to this toolbar click 'View' button at the tops left corner of MT4 platform next to file, then click 'Toolbars', Then Check 'Line Studies'. You can learn how to use Fibonacci Retracement Levels tool on the MT4 platform using a demo practice xauusd trading account.