The Daily Boxed Fibs & Pivots & Gann indicator for mt4 displays Fibonacci levels, pivots and Gann directly on the chart.
The indicator appears in the main MT4 chart window with all aforementioned levels plotted onto it.
Daily Boxed Fibs & Pivots & Gann is a pure price action indicator and can be used in multiple ways.
Trade Example
- Consider a long position as soon as price closes above the pivot point.
- Consider a short position as soon as price closes below the pivot point.
The Daily Boxed Fibs & Pivots & Gann 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 “DXTrade Daily Boxed Fibs&Pivots&Gann2.ex4” indicator for MT4
Indicator (EUR/USD H1)
The example chart below displays the Daily Boxed Fibs & Pivots & Gann mt4 indicator in action.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Daily Boxed Fibs & Pivots & Gann 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: Price action
Does the indicator repaint? No.
Daily Boxed Fibs & Pivots & Gann + Zero Lag MACD MT4 Strategy
Introduction
This strategy integrates the Daily Boxed Fibs & Pivots & Gann Indicator with the Zero Lag MACD Indicator on MT4.
The Daily Boxed Fibs & Pivots & Gann Indicator overlays key Fibonacci levels, pivot points, and Gann lines directly onto your chart, providing a comprehensive view of potential support and resistance areas.
The Zero Lag MACD Indicator offers a refined approach to the classic MACD, minimizing lag to provide more timely trend signals.
This combination allows traders to make informed decisions based on both market structure and momentum.
Ideal for intraday traders and swing traders seeking precision in their entries and exits.
Buy Entry Rules
- Look for the price to be near or above key Fibonacci retracement levels or pivot points, suggesting potential support.
- Enter a long position when the Zero Lag MACD histogram turns positive, confirming upward momentum.
- Stop Loss: Place below the nearest support level identified by the Daily Boxed Fibs & Pivots & Gann Indicator.
- Take Profit: Set at the next significant resistance level or a predetermined risk-to-reward ratio (e.g., 1:2).
Sell Entry Rules
- Look for the price to be near or below key Fibonacci retracement levels or pivot points, suggesting potential resistance.
- Enter a short position when the Zero Lag MACD histogram turns negative, confirming downward momentum.
- Stop Loss: Place above the nearest resistance level identified by the Daily Boxed Fibs & Pivots & Gann Indicator.
- Take Profit: Set at the next significant support level or a predetermined risk-to-reward ratio (e.g., 1:2).
Advantages
- Combines structural analysis (Fibonacci, pivots, Gann) with momentum indicators for comprehensive trade setups.
- Zero Lag MACD provides timely entry signals with reduced lag compared to traditional MACD.
- Clear visual cues from the Daily Boxed Fibs & Pivots & Gann Indicator enhance decision-making.
- Applicable to various timeframes, making it versatile for different trading styles.
Drawbacks
- Requires careful calibration of indicator settings to suit specific currency pairs and timeframes.
- False signals can occur during low volatility or sideways market conditions.
- It may not be suitable for highly volatile markets without additional risk management strategies.
Example Case Studies
Case Study 1 — EUR/USD 15m
On the 15-minute EUR/USD chart, the price approached a key Fibonacci support level identified by the Daily Boxed Fibs & Pivots & Gann Indicator.
The Zero Lag MACD histogram turned positive, signaling bullish momentum.
A long position was entered with a stop loss below the support level and a take profit at the next resistance level.
The trade resulted in a favorable risk-to-reward outcome.
Case Study 2 — GBP/JPY 30m
On the 30-minute GBP/JPY chart, the price was near a significant pivot point acting as resistance.
The Zero Lag MACD histogram turned negative, indicating bearish momentum.
A short position was initiated with a stop loss above the resistance level and a take profit at the next support level.
The trade successfully captured the downward move.
Strategy Tips
- Adjust indicator settings based on the volatility and characteristics of the currency pair being traded.
- Utilize additional risk management tools, such as trailing stops or break-even stops, to protect profits.
- Regularly review and adjust the strategy based on changing market conditions and personal trading performance.
By combining the structural insights from the Daily Boxed Fibs & Pivots & Gann Indicator with the momentum signals from the Zero Lag MACD Indicator, traders can develop a robust trading strategy that offers clear entry and exit points.
Remember to backtest and demo trade the strategy before applying it to live markets to ensure its effectiveness.
Download Now
Download the “DXTrade Daily Boxed Fibs&Pivots&Gann2.ex4” indicator for Metatrader 4
