In this post I will be reviewing the Fibo Quantum indicator which as the name eludes to, is a manual trading indicator based on the principles of Fibonacci.
Just like the other software, the Fibo Quantum indicator has been developed for the MetaTrader 4 (MT4) trading platform and will analyse the charts on behalf of the user then send them an alert when it finds a potential trading signal.
The user can then choose to either take the trade or to conduct their very own additional analysis to further filter the signal to clarify if they deem it to be a valid point of entry.
In order to use this forex system, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Fibo Quantum Trading Strategy
The Fibo Quantum indicator displays what can be complex Fibonacci analysis in a user-friendly way.
For those who may not be familiar with the terminology, Fibonacci is basically a sequence of numbers that many believe has a self-fulfilling prophecy.
The sequence was discovered in the 13th century by Leonardo de Pisa who was amongst the most talented mathematicians of the Middle Age.
Leonardo came to a conclusion that there was a pre-set series of numbers and ratios that determined the natural proportion of things in the known universe.
In a Fibonacci sequence, every number is the sum of the previous two numbers. To illustrate the sequence: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89 and so on.
When applied to trading, a Fibonacci indicator will display multiple price levels where the markets could react. Around these levels, we can often see price reverse or breakout. As many traders use them, this can add to their significance. A
long with entry signals, Fibonacci levels are also used for managing trades such as placing stop losses, take profits, break evens and trading stops.
“There are only patterns, patterns on top of patterns, patterns that affect other patterns. Patterns hidden by patterns. Patterns within patterns. If you watch close, history does nothing but repeat itself…” – Novel by Chuck Palahniuk, Survivor.
The Fibo Quantum indicator gives you entry price along stop loss and take profit levels all based on the Fibonacci levels.
It has 3 modes each with different volatility detection; conservative, medium and aggressive. You can set it depending on your trading style.
You do not need to chart watch all day as signal alerts are sent via email, pop-ups and mobile push notifications, so that you never miss any price movements.
The Fibo Quantum indicator can be applied to any currency pairs and time frame. I prefer to trade on longer term time frames as I find the signals more accurate and there is not as much noise as there can be on lower term time frames.
I would also trade major currency pairs such as the EURUSD and GBPUSD as they usually have some of the lowest spreads and the most liquidity, especially if using an ECN forex broker.
Fibo Quantum Summary
Overall, the Fibo Quantum indicator is very flexible and user friendly. It can be used for all different types of trading styles and by traders of all experience levels.
It would probably work best provided the user implements sound money management principles with a favourable risk to reward ratio so that losing trades do not wipe out winning trades. Furthermore, you should always have your trading emotions in check with good discipline and patience.
The Fibo Quantum indicator could be a useful tool for any trader’s arsenal. It comes with instruction manual, support, updates and a money back guarantee.