Forex Fibo Heart MT4 Indicator:
About the Forex Fibo Heart MT4 Indicator
Must be owned and used by Fibonacci traders who like to open position by pending order (limit order). The strategy is that you just have to wait for the automatic custom fibonacci appear then manual place your pending order, stop loss and take profit at the level of Fibonacci. The position will be opened when the price make a successful retest. Fibo Heart Indi come with pop-up alert, email and mobile push notification. Suitable for all instruments and all time frames.
Level details :
1- Monitor Trade = 0 (can be a stop loss level but you free where to put your stop loss)
2- Entry Zones
- EP 1 = 0.88 & 0.786
- EP 2 = 0.5
- EP 3 = 0.236
3- Take Profit Zones
- TP 1 = 1.618, 1.786 & 1.88
- TP 2 = 2.618, 2.786 & 2.88
- TP 3 = 4.236, 4.786 & 4.88
STANDARD OPERATING PROCEDURE (SOP)
• The SOP is very simple and easy. System will identify the presence of:
- Initial Break (IB) or Dominant Break (DB)
- Candle Break 1 (CB1) – marked with blue or red color of X symbol (Actually B point of previous ABC pattern)
• When the 3 conditions are met, the SOP is complete. Fibo will appear on chart to give entry point (EP) and take profit (TP) level
• The probability of a successful trade is in the high percentile ( >80% ) if this simple rule is followed SOP & Money Management
• Never trade against the trend of the market. Always wait for SOP
• As long as no CS closed above the Monitor Trade level the SOP is valid
SIMPLE TIPS ;
- For consisten profit always take profit at TP 1 level.
- On the chart, look to the left, if the price hit TP 2 or TP 3 usually its completed trend cycle (time to reverse) so also can be entry point at this zones.
- Always check the trend with auto fibo on higher time frames.
Candle break > fibo auto draw > price re-test > enter the market > take profit at TP level! Hopefully this strategy will make you happy!
Don’t forget to give your good feedback or review. I will take note for improvement. Thanks in advance!
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)