KISS Auto Fib Indicator
The KISS Auto Fib indicator for MT4 is the best Fibonacci indicator that automatically draws the retracement and extension levels of the price with more precision.
Description
The KISS Auto Fib indicator for MetaTrader is the best Fibonacci indicator that automatically draws the retracement and extension levels of the price with more precision. This technical indicator would come in handy to help you easily identify buy/sell opportunities at market pullbacks.
Does MT4 have Fibonacci?
The MT4 platform comes with a manual Fibonacci tool for drawing the Fibonacci retracement/expansion of the price. However, the KISS Auto Fib indicator is more convenient to use as it automatically plots the Fibonacci retracement and extension levels.
Furthermore, the indicator stands out among other auto-fib indicators because it was fully optimized to identify the optimal highs and lows of the price suitable for plotting the Fibonacci levels. This makes it suitable for novice traders that still struggle to identify the correct highs and lows for plotting a Fibonacci. Besides, it would also make trading a lot easier for intermediate and advanced forex traders.
What’s more, the indicator draws the Fibonacci levels using the wicks of the highs and lows, which tends to increase the accuracy of the identified zones.
How to Trade With the KISS Auto Fib Indicator
The above image depicts the action of the indicator on a USDCHF currency pair. It illustrates how to identify a high-probability trade opportunity using price action and the KISS Auto Fib indicator.
Firstly, the image shows that the trend of the market is bearish (downtrend). Furthermore, the indicator plotted the Fibonacci retracement zones in anticipation of a sell trade opportunity.
Finally, the price offers a sell/short opportunity after it pulled back to a supply zone which also coincides with a strong reversal zone of the fib (61.8%).
Conclusion
The KISS Auto Fib Indicator for MT4 is an incredible Fibonacci drawing tool suitable for scalpers, day/intraday, and swing forex traders. Finally, it is free to download.
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