Algo Fibonacci
Scalper System
Thank you for purchasing the Algo Fibonacci Scalper
System!
Installing the Algo Fibonacci Scalper System:
This zip file comes with two indicators and 1 template.
Installing the indicators:
Copy and paste the “Fibonacci Algo.ex4” and “Fibonacci
Algo Scalper.ex4” in the MT4 indicators folder.
How? Open your Metatrader 4 platform and from the top
bar > File > Open data folder > MQL4 > Indicators (copy
here)
Installing the template:
Copy and paste the “FibonacciAlgo.tpl” in the MT4
templates folder.
How? Open your Metatrader 4 platform and from the top
bar > File > Open data folder > Templates (copy here)
Now close and re-start your Metatrader 4 platform.
Open any chart and attach the FibonacciAlgo template to
that chart.
How? Right click in the chart > Template > select the
FibonacciAlgo template
The chart with the template attached should look like
this:
Setting up the signal alerts
The system comes with onscreen, email and push alerts.
You’ll need to enable the alerts you want from the
indicator’s inputs tab.
How? Right click in the chart and press the indicators list.
You’ll see both indicators, Fibonacci Algo and Fibonacci Algo
Scalper.
Select one indicator at the time and then press “edit”.
Then go to the “Inputs” tab to modify its alerts and some
other input parameters (if you like to experiment with this).
You can enable/disable alerts.
Finally press the “OK” button to save your preferences.
Here’s a great video on how to set MT4 push & email alerts:
https://www.youtube.com/watch?v=p7zxvG_JKrM&t=258
s
The system can be used on any timeframe.
However, for scalping purposes, use it on the M1/M5 trading
charts or any other timeframe of your preferences during
the most volatile trading sessions for maximum results.
How To Trade With Algo Fibonacci Scalper Forex
System
The system consists of 2 components: the Fibonacci Algo
display and the actual Fibonacci Algo Buy/Sell scalper.
Fibonacci Algo Display
Algo Fibonacci Scalper system has been designed from the
ground up with novice traders in mind but the system also
tailors to experienced traders.
The Smart Display window positioned on the right corner in
your trading chart shows you the most favorable trend and
lets you have a quick insight into upper time frames without
the need for tracking the price action in multiple windows.
It enables you to trade with the correct trend!
Fibonacci Algo Scalper Buy and Sell Arrows
A blue arrow represents a buy signal.
A pink arrow represents a sell signal.
Here is a complete break down of the display
functions + buy/sell trade instructions:
Buy Signal: The Fibonacci Analysis window “Analysis” must
display “Buy Only” + the Fibonacci Algo Scalper indicator
draws a blue buy arrow on the chart.
Note: We avoid any sell signal issued by the Fibonacci Algo
Scalper indicator (trading against the overall Fibonacci buy
trend).
Sell Signal: The Fibonacci Analysis window “Analysis” must
display “Sell Only” + the Fibonacci Algo Scalper indicator
draws a pink sell arrow on the chart.
Note: We avoid any buy signal issued by the Fibonacci
Scalper indicator (trading against the overall Fibonacci sell
trend).
No Trade: The analysis window “Analysis” displays “No
Trade”.
You don’t trade any new signals issued by the Fibonacci Algo
Scalper indicator (no clear buy or sell trend).
Protective Stop-Loss Placement
Buy Signal: Place a protective stop-loss below the most
recent swing low price.
Sell Signal: Place a protective stop-loss above the most
recent swing high price.
Take Profit Methods
Method 1: Take profit when an opposite Fibonacci Algo
Scalper trading signal pops up on the chart.
For an open buy trade, a pink signal arrow to sell pops up on
the chart.
For an open sell trade, a blue signal arrow to buy pops up on
the chart.
Method 2: Close the open buy or sell trade at a
predetermined take profit level.
For instance, close the open trade when price moves 15-35
pips in your favor on the 5-minute chart.
For instance, close the open trade when price moves
40-100 pips in your favor on the hourly chart.
That’s it, trade profitable with the Fibonacci Algo Scalper
System.
Please use on a demo account first to make yourself familiar
with the Fibonacci Algo Scalper.
