Forex Fibonacci Volatility MT4 Indicator:

## About the Forex Fibonacci Volatility MT4 Indicator

**Introduction**

Fibonacci Volatility indicator was introduced in the Book “Harmonic Volatility Line Indicator: Alternative Approach to Gann’s angle” for the first time. This Fibonacci Volatility indicator provides both Z score Configuration Method and Probability Configuration Method, whereas in Harmonic Volatility indicator you can only use Probability Configuration Method. Hence, this indicator provides more functionality for your trading than Harmonic Volatility Indicator.

**Main Features**

- Fibonacci Volatility in Z score Configuration Mode
- Fibonacci Volatility in Probability Configuration Mode
- Daily, Weekly, Monthly, and Yearly Volatility Mode
- Movable Volatility – Useful for geometric pattern analysis
- Market Profile Analysis
- Support and Resistance using Volatility projection
- Alert for Low Volatile Area
- Alert for High Volatile Area

**Trading Strategy Guide**

You can use the Volatility analysis to find the statistical regularity in your trading. It can work great with your price pattern trading. For example, the volatility analysis can provide you three areas for breakout (N), bullish reversal (B) and bearish reversal (S). Then you can use these three areas to base your entry and exits of your price pattern trading. Articles below contains the detailed trading strategy guide for Fibonacci Volatility Indicator. Must read these articles before using Fibonacci Volatility indicator.

**Settings**

To use Z score configuration mode, set “Use Z Score Configuration” = true. If you set “Use Z Score Configuration” = false, then indicator will use Probability Configuration Mode. Probability Configuration Mode is the same as Harmonic Volatility Indicator. These inputs below control the global setting of the indicator.

◾Number of Daily Session: 0 means indicator will not draw any daily volatility lines. 1 means that indicator will draw one set of daily volatility lines. You can create multiple session of daily volatility lines. However, too many sessions can slow down your MetaTrader. So use the right number for your computer.

◾Number of Weekly Session: It is the same as daily session input.

◾Number of Monthly Session: It is the same as daily session input.

◾Starting Index: 0 is default value. For 0, indicator will start to draw from session 0.

◾Use White Chart: True means that you will use white background chart.

◾Use Individual Line Color: If false, then you will use global color scheme. If true, then you can use individual color scheme

◾Daily Line Color: Color of daily line

◾Weekly Line Color: Color of weekly line

◾Monthly Line Color: Color of monthly line

◾Show Probability Lines: Switch on and off the curved probability line

◾Show Final Projection: Switch on and off the trading zone box

◾Final Projection Margin: Size of box

**Input Settings for Each Probability Line**

Each probability line can be switched on and off according to your preferences. You have the same setting for nine lines.

◾Use Line 1: You can switch on and off the line

◾Probability of Line 1: this input is only active when you set the indicator for Probability Configuration Mode

◾Z Score of Line 1: this input is only active when you set the indicator for Z Score Configuration Mode

◾Probability Line 1 Color: Color for line

◾Probability Line 1 Width: Width for line

◾Probability Line 1 Style: Style for line

**Important Note**

This indicator is graphic intensive. Therefore, when you use too many sessions for Fibonacci Volatility indicator and market profile, this can slow down your MetaTrader. So try to use the right amount of sessions suiting your computer memory and CPU.

Test results:

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)