The Fibonacci sequence has a unique appeal. While it plays a variety of roles in nature, the Fibonacci sequence is also useful for FX.
This "FibonacciEMA" is a moving average line (MA) using such a Fibonacci sequence. This indicator is especially recommended for those who don't know what to enter for the period used to calculate the moving average.
What is the Fibonacci sequence?
The Fibonacci number was named after Leo Fibonacci, an Italian mathematician. The Fibonacci sequence is a sequence consisting of the sum of the previous two numbers, such as “1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89…”. The EMA of this indicator applies this Fibonacci sequence to the calculation period.
How to use:
Try using it like a normal crossover system. For example, if the first moving average line (short-term moving average line) exceeds the other moving average lines, you should place a buy order.
You can also use this indicator simply for trend judgment. For example, if the moving average is all upward, there is a high possibility of an uptrend.
Download the "FibonacciEMA" indicator from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how:
Forex Education - Basics:
Free Forex eBooks:
Forex Education - FX Brokers:
Forex Education - Technical Analysis:
Forex Education - Money Management:
Forex Education - Psychology:
Forex Education - Others: