Waddah Attar Fibo Indicator For MT5

The Waddah Attar Fibo for Metatrader 5 draws 12 Fibonacci levels on the chart that can serve as effective profit target levels.

Every day, the indicator recalculates all Fibonacci levels.

How to use the indicator properly?

  • The 6 upper Fibonacci levels serve as potential take profit levels for buy trades.
  • The 6 lower Fibonacci levels serve as potential take profit levels for sell trades.

The indicator needs to be combined with an existing trading strategy or system.

Take profit targets:

  • For buy trades, target any of the higher 6 Waddah Attar Fibo levels.
  • For sell trades, target any of the lower 6 Waddah Attar Fibo levels.

The indicator contains the following inputs and parameters: chart period, horizontal shift, vertical shift.

Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.

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waddahattarfibo.mq5 Indicator (MT5)

Chart Example

The image below illustrates how the Waddah Attar Fibo indicator looks like when applied to the MT5 chart.

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waddahattarfibo.mq5 Indicator (MT5)

Frequently Asked Questions

How Do I Install This Custom Indicator On Metatrader 5?

  • Open the MT5 trading platform
  • Click on the File menu button located at the top left part of the platform
  • Click on Open Data Folder > MQL5 folder > Indicators
  • Copy the waddahattarfibo.mq5 indicator file in the Indicators folder
  • Close and restart the trading platform
  • You will find the indicator here (Navigator window > Indicators)
  • Drag the indicator to the chart to get started with it!

How Do I Edit This Indicator?

  • Click in the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on properties
  • Now you can edit the inputs, colors, levels, scale and visualization
  • Finally click the OK button to save the new configuration