How to use these as signals
- Open up your MT4 chart with the selected currency pair
- Scroll up to LINES > HORIZONTAL LINE
- Place the line anywhere on the chart
- Double click that line on the chart and select “Horizontal Line Properties”
- Where it says “Value”, input the price levels you see here, and the line will move exactly at that price. Do the same for all the price levels.
NOTE: There are 3 sources of signals here, Pivots, Fibonacci and Woodie. You do not need to use all 3 if you do not want. If you choose to use one source of signal for example “Pivots”, then only look at the pivots column and place the price levels on the chart.
When market hits these levels, there is usually a retracement, in which you can make profits from it. These are very effective key levels.