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How to set and add price level on Fibonacci retracement on mt4 chart - Forex Function

How to set and add price level on Fibonacci retracement on mt4 chart

Last Update: 18 November,2014
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Fibonacci is very useful tools on mt4 chart for technical analysis. So it is important to know how to set fibo on mt4 chart and add price level on fibo. From this article you will learn about it with details screenshot.


1. First open your mt4 terminal. From menu bar, click on “Insert”. Then click on “Fibonacci”. On right side new window will be opened and click on “retracement”.





2. Now you can draw fibo on your chart. Click mouse from where you want to draw fibo and hold it. Release your mouse up to where you want to draw fibo. Thus you can draw fibo easily on your mt4 chart.







3. You can add price on the fibo retracement level. It will be helpful for your analysis. To set price you need to customize fibo properties. Double click on the dotted red line on fibo. You will see new window. Click on “fibo retracement”.


step3




4. Click on “Fibo levels”. You will see fibo levels and description. To add price on fibo Double click on “Description” line. Add “=(%$)” with the fibo level. Repeat this for every fibo level. Then you will see price with fibo level on your mt4 chart.


fibonacci-setup-step4.png


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