Fibonacci Probability Graph Little Tip

In this article, we will just share little tip of using Fibonacci Probability Graph with Fractal Pattern Scanner. In our last article, we have shown that good trading strategy (i.e. good market prediction) essentially requires both relative term and absolute term.

We will not repeat how both relative term and absolute term works for your trading in this article. But you can find more information about relative term and absolute term from below article.

https://algotrading-investment.com/2020/01/23/fibonacci-retracement-in-forex-and-stock-market/

Assuming you have read this article, now you would understand why you need Fibonacci Probability Graph (or Probability Fibonacci Graph) to enhance your trading. It is because Fibonacci Probability Graph provides both relative term and absolute term in your trading equation. Hence, we share some little tip in this article.

Fibonacci Probability Graph consists of four main components.

1. Turning Point Probability in price (absolute term)

2. Turning Point Probability in time (absolute term)

3. Fibonacci retracement in price (relative term)

4. Fibonacci retracement in time (relative term)

Fibonacci Probability Graph uses two axis that are primary and secondary axis. Fibonacci Probability Graph is drawn from the previous turning point since its primary goal is to predict future turning point from the previous turning point.

If we are predicting peak, then Fibonacci Probability Graph is drawn like below:

1. Left Y axis = Turning Point Probability in price

2. Bottom X axis = Turning Point Probability in time

3. Right Y axis = Fibonacci Retracement in price

4. Top X axis = Fibonacci Retracement in time

If we are predicting trough, then Fibonacci Probability Graph is drawn like below:

1. Left Y axis = Turning Point Probability in price

2. Bottom X axis = Fibonacci Retracement in time

3. Right Y axis = Fibonacci Retracement in price

4. Top X axis = Turning Point Probability in time

However, sometimes, the chart scale does not cover the top or bottom axis. Hence, you might miss Fibonacci Retracement in time. In MetaTrader 4 and MetaTrader 5, you can rescale chart height by dragging price axis on the right side of chart. Hence, to see Fibonacci Retracement in time, you might have to increase chart height by dragging price axis.

When you do not need to see Fibonacci Retracement in time, then you can reduce chart height back. I do this all the time. I think some starters might find it difficult. Hence, I share this article with you.

Below is the landing page for Fractal Pattern Scanner.

https://www.mql5.com/en/market/product/49170

https://www.mql5.com/en/market/product/49169

https://algotrading-investment.com/portfolio-item/fractal-pattern-scanner/

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