Ok, I took the thoughts behind the chart template going round that I published yesterday. I have today created a very modified (i.e. strip it down and rebuild it) version by using a piece of java software, the java software generates the code to produce lines at FIB levels on the chart and here are the results.
I have an old copy of metatrader I use for testing so it’s installed on there. (Keep my BelforFX metatrader clean until things are tested out).
Basically what you can see is Moving Averages plotted at Fibonacci levels for their periods. I then adjusted the colours to match what was going on, as I trade based on the daily chart you can see how the pair follows the fib levels. You can see (confirmed by a look on the weekly chart) that the pair is ACTUALLY bullish.
If you would like this indicator you can download it here.
If you know anyone else that would like it please do send them to this web page for downloads.
You save it into your templates directory, then create a new chart, Right click, templates, load template, dailyforextraderfibma.tpl (you will need to unzip it from the zip file).
(sneakily, I have a trade marked on this chart please note this is for educational purposes only).