Fibbonacci in metatrader?

Forex trading · 01-10-2008, 06:47 PM

Is there any way to get fibbonacci lines drawed in metatrader?? Can't find it...

rosy · 06-23-2009, 06:51 AM

Yes i know that the Fibonacci Retracement are built as follows: first, a trend line is built between two extreme points, for example, from the trough to the opposing peak. Then, nine horizontal lines intersecting the trend line at Fibonacci levels of 0.0, 23.6, 38.2, 50, 61.8, 100, 161.8, 261.8, and 423.6 per cent are drawn. After a significant rise or decline, prices often return to their previous levels correcting an essential part (and sometimes completely) of their initial movement.



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