Various trading tools were created by indicator and application developers to aid trading in financial markets, including stocks, forex, crypto, indices, and commodities.
Many traders are familiar with the Moving Average indicators, Bollinger bands, RSI, MACD, and so on. But maybe some don't know a unique trading tool, namely Fib Spiral.
This indicator is very unique and different from the other indicators mentioned above because it has a line shape that resembles a spiral. You can see the appearance of the Fib Spiral indicator taken on the FXOpen blog below.
Maybe you are asking, how to use this tool for market analysis. This indicator is a Fobonacci sequence with a spiral format. Has the same principle as Fibonacci retracement. it's constructed by drawing circular arcs that connect the opposite corners of squares in the Fibonacci tiling. This sequence of squares, each with sides of Fibonacci-number lengths, forms the base of the spiral.
To use this unique trading tool, several points to pay attention to are Placement, Scaling, Analysis, Confirmation, and Adaptation. For more details, you can visit the FXOpen blog to study the Fib Spiral indicator thoroughly.
Then is this unique trading tool profitable? I don't rely on this tool in trading with FXOpen, but if you are interested, it's worth trying it on a demo or real account. , In my view, there is no perfect tool in trading, the role of money and risk management remains important to managed accounts.
Many traders are familiar with the Moving Average indicators, Bollinger bands, RSI, MACD, and so on. But maybe some don't know a unique trading tool, namely Fib Spiral.
This indicator is very unique and different from the other indicators mentioned above because it has a line shape that resembles a spiral. You can see the appearance of the Fib Spiral indicator taken on the FXOpen blog below.
Maybe you are asking, how to use this tool for market analysis. This indicator is a Fobonacci sequence with a spiral format. Has the same principle as Fibonacci retracement. it's constructed by drawing circular arcs that connect the opposite corners of squares in the Fibonacci tiling. This sequence of squares, each with sides of Fibonacci-number lengths, forms the base of the spiral.
To use this unique trading tool, several points to pay attention to are Placement, Scaling, Analysis, Confirmation, and Adaptation. For more details, you can visit the FXOpen blog to study the Fib Spiral indicator thoroughly.
Then is this unique trading tool profitable? I don't rely on this tool in trading with FXOpen, but if you are interested, it's worth trying it on a demo or real account. , In my view, there is no perfect tool in trading, the role of money and risk management remains important to managed accounts.
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