AutoFib TradeZones Free Downloads

AutoFib TradeZones is a price-level analysis indicator that plots automatic Fibonacci levels on MT4 charts. Since Fibonacci is a universally accepted technical tool, you can apply it for all types of trading instruments, including forex, stocks, cryptocurrencies, commodities, etc.

This indicator mainly identifies the possible pullback zones of the price, especially during an on-trend market. However, expert day traders use Fibonacci levels for anticipating counter-trend and swing entry positions.

If you are well versed in the price market signals like candlestick patterns, you’ll easily be able to identify potential buy/sell entry levels by using the AutoFib TradeZones. Besides, it suits any timeframes between 1-minute to monthly charts, allowing you to go for scalping and intraday trading simultaneously.

This guide explains how to determine key trade entry levels using the AutoFib TradeZones indicator in MT4.

How to determine buy/sell levels on MT4 charts by using the AutoFib TradeZones indicator

AutoFib TradeZones automatically captures the distance between the recent market high and low for deploying the Fibonacci levels.

It plots six horizontal lines showing 23.6, 38.2, 50, 61.8, 76.4, and 100 percent retracement levels of the price. The blue horizontal zone at the bottom indicates the ultimate buy zone. On the other hand, the red zone on the top determines the sell zone.

According to the above example, GBPUSD was initially on an uptrend since the price was holding above the buy zone. Later, the chart printed a large bullish pin bar rejecting the horizontal level representing the 38.2% pullback level.

In the same way, the price plotted another bullish pin bar rejecting the 50% level, which indicates a possible continuation of the current bullish rally. In both cases, we could consider the pin bars as buy signals following the bullish momentum of the price.

The price rejects to hold inside the red zone at the top indicates a buy-exit. Oppositely, exit shorts when the price breaks above the blue area at the bottom. Moreover, you can use the nearest Fibo level to your entry for determining the stop-loss position.

Conclusion

The AutoFib TradeZones indicator is the best retracement tool for anticipating precise buy/sell entry and exit levels in MetaTrader 4. Besides, it comes with an optional price channel feature for determining dynamic support/resistance levels. If you love price-action trading and looking for a super price-level indicator, then AutoFib TradeZone can be a great addition to your MT4 platform.