【Tool Explanation】Episode 1: Support Function When Inserting Fibonacci Numbers
About this series
In the Fibonacci Practical Notes, we have talked about Fibonacci itself—where it might bounce, where to anchor from. This is a theoretical discussion.
From this time, I will explain how to use the MT5 tool I created, FTS (Fibonacci Trade System).
The features are honestly quite numerous. If I tried to cover everything in one go, everything would feel half-baked. So I decided to split it into several parts.
After drawing Fibonacci, there are some quietly bothersome steps
There is a guide for bounce around 61.8%. But can you instantly tell exactly what that value is?
Whether you read it by staring at the chart scale or by moving your mouse close to the line to check the price, it requires a little extra effort either way.
Moreover, there are times you fine-tune while watching the market. Shift the anchor by one candle. Readjust the end point to match the body. Each time, you have to go through the same checks again.
FTS is a tool specialized for Fibonacci
To remove this hassle, I made FTS (Fibonacci Trade System).
The way to use it is simpler than you might think. Draw Fibonacci. Leave the rest to FTS. In other words, just these two steps.
Fibonacci itself uses the built-in MT5 functions. There is no need to memorize special操作. If you draw it as usual, FTS will take over from there.
When you draw Fibonacci, levels and prices are displayed automatically
In the initial settings, the sequence is 0 / 23.6 / 38.2 / 50 / 61.8 / 78.6 / 100 / 161.8 / 261.8 (this list can later be changed to any values you like).
Before (only Fibonacci drawn)
After (FTS detects levels immediately after)
Note: the screen also shows panels and badges, but for now please focus only on the level labels. Each button on the panel will be explained one by one in the next sessions.
Next to the numbers, prices can also be shown. However, in the initial settings this is OFF, so if you need it, turn it ON with the "Show price" button. Conversely, you can hide the numeric labels like 61.8 and keep only the lines clean.
With this, the hassle of reading prices by hovering the mouse should disappear.
New Fibonacci becomes the calculation target as is
You won’t have trouble drawing it again and again. FTS always uses the most recently drawn (or edited) Fibonacci as the calculation and display target.
The old Fibonacci lines don’t disappear; they remain. However, the TP/SL badges and price calculations switch to the new Fibonacci.
From now on, when you want to analyze or trade, just draw the new Fibonacci. With that, the calculation target automatically shifts there. The task of erasing or organizing lines becomes unnecessary in the first place.
You can filter what you want to see
The default Fibonacci levels are nine steps, which may be many for some people. There are scenarios where you only want 61.8% and 38.2%.
In such cases, you can individually toggle visibility by level. If you narrow down to the levels you value, you can intuitively switch the display to match the market. This makes adjusting Fibonacci much easier. The chart will also look cleaner.
Why I created this tool
I myself have repeatedly felt that drawing Fibonacci, analyzing, and actually trading is a tedious process. I often thought, “If only it could be more efficient for analysis and trading, and performance would improve.” I created FTS to solve that.
Actual screens and details of other features are on the product page.
→Fibonacci Trade System (Product Page)
FTS full feature list
From entry to settlement, it summarizes the features FTS supports.
Fibonacci analysis & entry
Automatic detection and level construction
Draw Fibonacci to automatically detect and display levels
BUY & SELL three presets each
Just switch the TP/SL patterns
Draggable fine-tuning of TP/SL
Drag badges to fine-tune prices
Market orders & pending orders
Automatic check for TP/SL conflicts before order
Identify only FTS orders
Does not affect manual orders or other EAs positions
Managing existing positions
Mini panel management
Check direction, lots, and P/L on the panel
Automatic built price movement
When the price reaches a horizontal line, move SL to break-even automatically
Trailing stop
Automatically trail SL as price rises
Lock in unfavorable SL direction
SL cannot move in the direction that increases losses
1/2 or full close
Close part or all of a position with one click
Calculation before placing orders
Automatic lot calculation
Automatically compute the lot size that fits within the permissible loss
Automatic RR calculation
Display risk-reward ratio together with the lot size
Time and event display on the chart
Economic indicator display & notifications
Display important indicators on the chart and notify before release
Session display
Show start times for Tokyo, London, and NY markets
JST display
Always display Japan time on the chart
Usability
Hide P/L
Hide unrealized P/L so you can decide without it
Pips size adjustment
Manually adjust the pips size according to the instrument
Normal mode
Place orders with one touch without drawing Fibonacci
Screen size support
Panels automatically adjust to your monitor resolution
Next
In Part 2, I will describe how FTS supports you when planning orders.
This time, we talked about the “display” of Fibonacci. Once Fibonacci is visible, the next step is to decide TP/SL from there. I will describe what FTS can take care of in that moment in the next part.