As you can see from the name of the described algorithm, it was created on the basis of the time-tested Fibonacci grid and Pivot levels. The algorithm under consideration displays five support and resistance levels on the trading chart, which you can focus on to select the optimal moments to enter the market.
Due to the simplicity and clarity of the signals that the described algorithm gives out, it can be safely recommended to novice speculators who are just getting acquainted with the foreign exchange market.
The FibPiv indicator is distinguished by the maximum level of versatility, since the accuracy of the signals it generates does not change depending on the asset you choose to earn or the time interval.
To download the FibPiv indicator, use the link that you can see below.
Download FibPiv indicator
FibPiv indicator. Optimization
The installation of the described algorithm is simple. You don’t need any skills or experience to complete this task. After starting the described algorithm, a window with its parameters will appear in front of you.
The creators of the described algorithm did not envisage the possibility of making any changes to the parameters of the described algorithm that affect the features of its functioning. On the one hand, such a decision can be called positive, since the probability of incorrect functioning of the considered algorithm due to incorrect optimization is excluded. On the other hand, due to the decision of the developers, you will not be able to fine-tune the described algorithm for the asset and time period you have chosen for making money.
It is quite simple to use the described algorithm to make money on the foreign exchange market. You just need to transfer the described algorithm to the chart of the asset you have chosen to earn. Then you should wait for the next signal to appear on the screen and create a position in the desired direction.
When using the described algorithm for earning, it is recommended to create positions after the price level rebounds from one of the levels. As soon as the price bounces off the support level, you should promptly create a buy position. It is recommended to close this deal promptly after the price crosses the central straight line.
At the moment when the price level of the asset you have chosen will bounce off the resistance level, you need to quickly create a sell position. It is strongly recommended to close this trade after the price level crosses the central curve. The signals of the described algorithm have an acceptable level of accuracy, but some of them may end up being erroneous. Using wrong signals to create positions can lead to losses.
To increase your chances of getting a stable income, you should combine the considered algorithm with additional tools that will act as a filter. To learn how to correctly optimize and apply the algorithm in question, use a demo account. Only after gaining the necessary experience, you can start trading for real money.