Hey fellow traders! Today, I want to share some insights on two fantastic indicators I've been using: m-Fibonacci and m-Candles. Personally, I prefer working on the M15 timeframe, as these indicators provide a clear view of H4 candlestick patterns and Fibonacci levels on the same chart. Plus, I've added a sound alert that chimes when the price nears one of those key levels—super handy!
Here's a quick look at what my chart setup looks like with these indicators:
Now, let’s dive into the settings for each indicator:
m-Fibonacci Settings
- TFbar: This is the Fibonacci period, and you can use standard timeframes like 60, 240, or 1440 minutes in MT4.
- FileName: Choose the sound file that will play when the price approaches one of the Fibonacci levels.
- delta: This is the distance the current price needs to reach the Fibonacci level before the sound alert triggers.
- Notice: A simple flag to determine whether the sound file should actually play.
m-Candles Settings
- TFBars: Set this to your preferred larger standard timeframe.
- NumberOfBars: This indicates how many bars from the larger timeframe you want to analyze.
- ColorUp: Choose the color for bullish candlesticks—this helps in quickly identifying upward trends.
- ColorDown: Select the color for bearish candlesticks to spot downward trends easily.
I’d love to hear your thoughts on these indicators! You can reach out to me directly—my ICQ number is 138-092-006. Happy trading!
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