How Do I Use Fibonacci Retracement on MetaTrader 4?

How to Trade with Fibonacci Retracement Indicator on MetaTrader 4

How to Use Fibonacci Retracement Levels on MT4

The procedure for how to use Fibonacci Retracement Indicator and how to add the Fibonacci Retracement Tool on the MetaTrader 4 Platform is explained 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 the MT4 platform, you can use the following short cut method:

1. Click Insert2. Click Fibonacci3. Click Retracement

How Do I Use Fibonacci Retracement on MetaTrader 4?

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

How to Trade with Fibonacci Retracement Indicator on MetaTrader 4

This Fibonacci Retracement tool is located on MT4 (Line Studies Toolbar), to go to this toolbar click "View" at the top 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 MetaTrader 4 platform using a demo practice xauusd trading account.