Is Fibo code an indi or an EA? Or is it just a trading course? This comes with a manual system, which is a physical DVD by the way, and the EA on the other hand is digital product which means it means it needs to be educated to be able to have it shared online. Though I personally suggest doing trading manually than using any EA or indicator, let us take a look at this Fibo Code.
We checked the Fibo Code on it’s internet website. You can find a lot of pictures which we may take a good study with. They seemed to be using one moving average and two indicators as qualifiers and the Fibonacci tool which as we all know it’s already available in all metatrader already. They have used this as a retracement and extension tool to figure out the targets and support or resistance levels. But then if we come to think of it, they are very expensive as the fibo tool and the moving average indicator are just free to use within the mt4 platform. You can use stochastic as a qualifier instead and a moving average which they are using.
Just a hint for you to use, if you notice that the stochastic came from an oversold position and are moving up, you have a close above the moving average, it would go long. So when the stochastic came from an overbought position and are moving down, you have to close below the moving average-it would then go short. All in all, before purchasing something, make sure that it’s worth the buy. Most often than not, they don’t need to be purchased at all as they are just available already and you may save your money. But then, I won’t take the idea out that the video of this Fibo Code is impressive.