The Fibonacci Profit Target Calculator indicator for mt4 (Metatrader 4) calculates and displays profit targets on the chart based on Fibonacci.
The indicator appears in the main MT4 chart window and works for both long and short trades.
The Fibo Profit Target Calculator indicator can be used in multiple ways.
Buy & Sell Trade Example
- For long trades, set your profit target at one of the suggested Fibonacci profit target levels for long trades.
- For short trades, set your profit target at one of the suggested Fibonacci profit target levels for short trades.
The Fibo Profit Target Calculator indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “fibocalc_V31.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the Fibo Profit Target Calculator mt4 indicator in action.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Fibo Profit Target Calculator Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Fibonacci targets
Does the indicator repaint? No.
