master please tell me how to read and analyze the Fibo fr indicator, as well as how to install the indicator on streamster. thanks
@ Komri:
Here's an example of Fibonacci retracement levels on EUR/USD recently:
In an uptrend condition like the example above, the Fibo retracement levels indicate support and resistance, which are levels that may be broken or levels where a bounce (price reversal) may occur. You can use these levels for entry, stop level placement (stop loss) or target profit level placement.
In this case, you can enter a sell when the price breaks the 38.2% level with a target at the 61.8% level, and enter a buy when the price breaks the 50% level with a target at the 23.6% level.
The same method also applies to downtrend conditions.
For more information, please read: Trading With Fibonacci Theory.
For installation on the Streamster platform it is almost the same as on Metatrader, first you determine the swing high and swing low points and then the Fibo retracement levels will appear.
Incidentally, I no longer trade at Agea broker (formerly Marketiva) so I cannot show how to install it on the Streamster platform, but at Agea you can ask via chat in Indonesian with their customer service which is online 24 hours.
Hopefully this can help.