Placing Fibonacci Lines on MT4

The fifth option on the MT4 trading platform insert menu is Fibonacci Lines. Fibonacci Lines Button Key has the following submenu buttons shown below:

Fibonacci XAGUSD in Meta Trader 4

Fib Lines

1. Silver Fibonacci Retracement
2. XAGUSD Trading Fib Time Zones
3. XAGUSD Trading Fibonacci Fan
4. Silver Fibonacci Arcs
5. Silver Fibonacci Expansion

Silver Fibonacci Retracement

The Fibo retracement can be placed on a chart from the Fibonacci retracement button. Fibonacci retracement is used to estimate where a xagusd price retracement is likely to reach. The Fibonacci retracement levels are drawn as shown and illustrated below. To learn how to draw and use Silver Fibonacci Retracement Levels read the guide: How to draw Silver Fibo Retracement Levels:

Silver Fibo Retracement Levels Drawn on a Chart on The MT4 Silver Software

Silver Fibonacci Time Zones

The Fibo time zones are Fibo lines drawn at different Fibonacci timelines, these Fibo time zones are calculated using the Fibo points 1, 2, 3, 5, 8, 13, 21, 34. The Fibo levels are 1+2=3, 2+3=5, 3+5=8, first number add to the next, the next added to the second & so on.

The Fibo time zones are pictured below, at these time lines xagusd price changes are likely to occur based on technical analysis of Fibo time zones:

Fibonacci Time Zones in MetaTrader 4

Silver Fibonacci Fan

The Fibonacci fan is drawn between two chart points and then three additional lines below the trend are plotted as the fans, these are 38.2%, 50.00% & 61.80% Fibo retracement levels. Xagusd trading price is likely to bounce & continue in the original direction after xagusd price retraces to any of the fan lines.

The Fibonacci Fan Lines are drawn as shown and illustrated below:

Fibo Fans in MetaTrader 4

Silver Fibonacci Arcs

Fibo arcs are plotted using two chart points, the arcs are then drawn as shown and illustrated below & these arcs represent 38.2%, 50.0% & 61.8% Fibonacci retracement levels.

Fibo Arcs Representing Silver Fibonacci Retracement Zones on Chart

Silver Fibonacci Expansion

The Fibo 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 Silver Fibonacci Extensions or Fibonacci Projection Levels by some traders & these Silver Fibonacci Extension levels are plotted as shown and illustrated below. Tutorial: How to Draw Fibonacci Expansions:

How to draw Fibonacci Lines & other Fibonacci studies like Silver Fibonacci Expansion and Retracement in Meta Trader 4