Forex SFT Fibo Volatility Channel MT4 Indicator:
About the Forex SFT Fibo Volatility Channel MT4 Indicator
The indicator shows the channel in which the price moves
The algorithm for calculating the indicator is based on Fibonacci numbers, and also depends on the volatility of the instrument.
Corrections and price reversals are most likely near the channel borders.
Allows you to conduct trend and counter trend trade within the channel
It works on all timeframes, on any currency pairs, metals and cryptocurrency
Can be used when working with binary options
- Shows clear boundaries of price movement;
- Suitable for trading market and pending orders;
- Based on the golden Fibonacci value and instrument volatility
- It has simple and clear settings;
- It works on all timeframes and on all symbols;
- Suitable for trading currencies, metals, options and cryptocurrency (Bitcoin, Litecoin, Ethereum, etc.);
- Suitable for manual trading and for developing advisers;
For more accurate inputs and additional confirmation signals can be used in conjunction with other indicators.
- Period – indicator calculation period;
- Fibo factor – coefficient of the Fibonacci algorithm;
- Volatility factor – instrument volatility coefficient;
- Channel Type – type of channel construction algorithm;
- The direction of the transaction should correspond to the slope of the channel itself.
- When the price approaches the red border, open Sell or Put (for options)
- When the price approaches the blue border, open Buy or Call (for options)
- Exit the transaction on the middle (green) line or according to the established SL and TP.
- When using SL and TP, it is advisable to set the SL for the nearest extremum, TP = 1..2 SL or on one of the lines of opposite color.
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)