I just learned something from Triffany (Rob Booker) on a webinar today that I found very useful.
When setting your Fibs, you can also set it so that Metatrader gives you the price at the Fib level, so you don’t have to guess or measure it.
To add the price levels, do the following:
- Pull your Fibs on the price action you want to measure.
- Right-click anywhere on the chart and select ‘Objects List.
- In the next window, highlight the Fibo line and click the Edit button. In the subsequent window, you can add ‘%$’ anywhere in the description to see the price that fib level is at. As you can see below, I want the description to read ‘79 (retracement level) @ xxxx price.
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- Click OK on the current window and Close on the next window. You will now see the price level on the chart. In this example, the 79% retracement level is at 1.1429.
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- Now you can do this with any of the other fib levels you want. Pretty cool huh?
