Random article: Fibonacci Time Zones
Fibonacci Time Zones is the subsequent row of vertical lines with Fibonacci intervals 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 etc. This tool is used to define significant price changes on the basis of previous price fluctuations.
The main point in drawing Fibonacci Time Zones is to correctly set starting and final points that will determine the length of a singular interval. To build vertical Fibonacci row in the MetaTrader 4 trading terminal, it is necessary to choose “Insert - Fibonacci Time Zones” in the toolbar and mark two pivots. Starting and ending points are usually marked on extreme values of prices (minimum - minimum, maximum - maximum, minimum – maximum and maximum - minimum).