I believe I made it clear how I am a great fan of technical analysis by now. Thus you will often see TA drawing assistance tools for download around the blog.
One of the most popular tools is – Fibonacci. In the list you will find below, you will see Fibonacci indicators I managed to find by consistently crawling Internet for few days. If you are a fan of Fibonacci, then you will love these indicators. Choose the one that fits your strategy the best and happy trading!
01 – KorDynamicFibonacci Indicator
Fibonacci indicator named KorDynamicFibonacci automatically draws multiple Fibonacci levels, joining the few last high-lows. This is a great indicator for starters who are not confident how to properly join high-low. I wrote detailed review and tutorial on how to use it at how ho trade with KorDynamicFibonacci indicator.
Download KorDynamicFibonacci MT4 indicator
02 – Set Fibonacci Price Indicator
This is a standard version of Fibonacci indicator with addition of price attached to each of Fibonacci levels. This is quite handy as you can simply see at what price is 50% Fibonacci, and so on… you don’t have to use any other tools or manually check the price for each Fibonacci level.
The way you add this indicator on the chart is simple. Using Fibonacci tool from your platform, draw Fibo for desired high-low and then, using custom indicator, you pull up the set Fibonacci price indicator onto chart, after which you obtain the prices besides each percentage.
Download Set Fibo price Indicator
03 – AutoDayFibs Indicator
This is a daily Fibonacci indicator which uses daily high-lows to draw Fibonacci levels. All the fans of technical analysis who fancy daily high-low will love this indicator. You might also find it well useful. AutoDayFibs indicator is automatized.
Download AutoDayFibs Indicator
04 – XIT FIBS Indicator
Add XIT FIBS indicator onto the chart and it will draw Fibonacci levels using the highest and lowest points on the chart. For example, if you are using M30 chart indicator will use the highest and the lowest points to draw Fibonacci levels; if you switch over to H1, indicator will recognize new conditions and draw the new levels. This indicator is a great fit for toolbox of traders who use high-low levels on chart.
Example above illustrates how indicator automatically finds the highest and lowest points and applies them to draw Fibonacci levels. Indicator assigns the price to each Fibonacci level.
Download XIT FIBS
05 – QuickFib Indicator
QuickFib automatically calculates Fibonacci levels according to the highest and lowest points that price has reached on your chart.
What is distinctive for this version of Fibonacci indicator is that it draws two “trend-lines”, where one trend-line joins the highest resistance while the other joins the lowest support points. The current price is located in-between these two lines. This way allows you to easily follow and predict the price action while trading by Fibonacci rules.
Download QuickFib Indicator
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Fibonacci indicators are great addition to technical analysis toolbox. As I love TA, I use Fibonacci method in my regular day trading strategies and analysis. I will continue with adding new Fibo indicators, if you like this post please share it and leave comment bellow. Also if you want me to add new indicator on the list then simply leave a comment or send me an email with the name of indicator I will take care of it.