This section is specifically for the Fibonacci SR Indicator only. If you want your Fibonacci indicator corrected, you can post a new topic in the indicator modifications section if needed.
Fibonanci is a fairly well-known indicator and is most often used by technical traders, especially to determine golden points or support points and the most resistant. Why do many traders prefer FOBo as a tool to help analyze price movements rather than other indicators? The foundation is in the advantages of fibo indicators themselves such as:
1. Fibonacci is not a lagging indicator but a leading indicator so that there is no such thing as a repaint, late and so on.
2. Fibonacci is applied based on price action to be dynamic.
3. By using fibo, there is no need for other complicated indicators, even if there is a topping of the most MA indicator only for a short trend or daily reference so that we can focus more on the market.
4. With fibo, our automatic risk reward ratio will be good at least TP = SL or even better TP> SL.
5. The fibonanci retracement technique is a folower trend technique so it will be safer.
