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This indicator depends on Fibonacci lines but there is a secret lines i used them, by using FiboRec indicator you will be able to know a lot of important information in the market such as:
Features
- You can avoid entry during market turbulence.
- You can enter orders in general trend only.
- You will know if the trend is strong or weak.
Signal Types and Frame used
- You can use this indicator just on H1 frame.
- Enter buy order in case Candle break out the square area and closed over it, at least 20 pips of take profit, close your buy order when candle closed under the square area as stop loss.
- Enter Sell order in case Candle break out the square area and closed under it, at least 20 pips of take profit, close your Sell order when candle closed over the square area as stop loss.
- Currency: It works on any currency pair, but for best results use it on EURUSD
- It is very easy to use.
Parameters
- Historical Days – this refer to number of days where the previous square are placed on the chart for Ex. if Historical Days = 3 it means you will found 4 squares, 3 squares for last 3 days and one another square for current day.
- Square color – this refer to the color of square.
- Notifications – if it false there are no notifications at all, if it true you have to choose how indicator will send notifications to you.
- Alert – Displays a message in a separate window.
- Send push message – Sends push notifications to the mobile terminals, whose MetaQuotes IDs are specified in the “Notifications” tab.
- Send an email – Sends an email at the address specified in the settings window of the “Email” tab.
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