FAQ - Fibonacci Arrows and RB Charts (Channel #Systems_and_Tools)

This FAQ focuses on technical questions about the 'Fibonacci Arrow' strategy, the offline Range Bar (M3) charts it generates and related tools like Fibo Manager. Before you ask a question, please check the answers below and the pinned messages on the channel.

I. Installation and Licensing of Arrows

Q: Where can I find the Fibonacci Arrows installer/files?
O: Installation files and instructions can be found on the Fibonacci Challenge page: https://wyzwaniefibonacciego.elms.pl/next/public/lesson/70. You must complete the previous steps to gain access. Version .zip for manual installation (e.g. on macOS) is provided at the link: Zip arrows.
Q: How do I install Arrows on macOS?
O: Download a version of .zip (link above) and manually copy the files to the appropriate folders in the MT4 data structure (MQL4/Experts, MQL4/Indicators, MQL4/Libraries etc.) running on macOS (e.g. via an emulator like Wine/Parallels). Users have confirmed that such an installation is possible.
Q: When you drag the Arrows onto the chart, the message "This indicator only works on offline charts" appears or nothing happens / no M3 chart is created.
O: Make sure you drag the file onto a standard chart (e.g. M1). Arrows_Fibonacci from the section "Strategies" in the MT4 Navigator, and not file Arrows_indicator from the 'Indicators' section. Strategy Arrows_Fibonacci will automatically open a dedicated offline chart (marked as M3) and loads the appropriate indicator on it Arrows_indicator.
Q: The error "Valid licence key not found" or "Account name inconsistent" appears. What to do?
O: Check carefully:
- Whether the data (name, surname) given during key generation are identical with the data shown in the MT4 Navigator next to the account number (case, Polish characters, possible middle name - everything must match).
- Did you copy correctly whole license key from the e-mail you received and pasted it into the appropriate field in the strategy settings Arrows_Fibonacci (when dragging it onto the M1 chart).
- If the data on the MT4 platform is different to what you have entered, contact your broker to correct the data in your account or FXWare support -. pomoc@fxware.pl (if the error was in entering the data into the key generator) to generate a new key.
Q: Do I have to enter the licence key every time I add Arrows to a new instrument?
O: No. The licence key should be remembered by the MT4 platform after the first correct entry. If the system asks for the key every time you add a strategy, this may indicate a problem with the settings being saved to disk.
Q: Do Arrows work on MT5?
O: The current version of Fibonacci Arrows is designed for the platform MT4.
Q: Do Arrows work with every broker?
O: Yes, Arrows does not have a lock on a specific broker. They will work on any MT4 account, provided that the account details (the name shown in the Navigator next to the account number) match the details provided when the licence key was generated.
Q: Does Arrows work on a demo account?
O: Yes, Arrows can be used on a demo account, as long as the demo account details (name, surname) comply with the licence.

II. Appearance and Functioning of the RB Chart (M3)

Q: My Arrows chart (M3) looks different from the one shown on the stream (different candles, different band size, fewer/more arrows). Why?
O: This may be due to several factors:
- Timing of chart generation: Range Bar (RB) charts are generated based on M1 data from the start of the strategy. Different start times and potentially different historical data at brokers can lead to differences in the appearance of the generated chart.
- Scale of the chart: Use the magnifying glass (+) / (-) buttons on the MT4 bar to adjust the zoom in/out view of the chart M3.
- System adaptability: The size of the RB candles is dynamically adjusted according to market volatility (based on the last 5 days' data). The system adapts to conditions, which can lead to differences in the appearance of the chart at different times or for different users.
Q: Instead of arrows, I see rectangles or "bushes" on the graph M3.
O: This is likely to be a problem with the character encoding (code page) settings on Windows or MT4, not directly related to Arrows, but affecting their correct display. Check your Windows regional and language settings.
Q: Is it possible to change the size of the RB (Range Bar) candles in the Arrows?
O: The size of the RB is calculated automatically by the strategy based on the volatility of the instrument over the last 5 days. In the version of Arrows provided, it is not possible to manually change this parameter.
Q: Do the Arrows appear with a delay or can they change their position (repaint) on the chart M3?
O: An Arrow signal is generated when a Range Bar (RB) candle closes meeting certain conditions. However, it should be remembered that the indicator mechanism constantly analyse and adapt to changing market dynamics and conditions. This dynamic adaptation means that historical indications (including band position and potentially previous arrows) can be continuously recalculated and adjusted in response to the latest price movements in order to best reflect the current market assessment. It is therefore crucial to react to a signal only after the confirmed closure RB candle that generated it, being aware of the adaptive nature of the indicator.
Q: Do Arrows have alerts (e.g. for the appearance of an arrow, touching a banda)?
O: In the current version, Arrows does not have built-in alerts. This has been raised as a suggestion for consideration in future updates.

III. Fibo Manager

Q: On the M3 chart with arrows, I do not have automatic Fibo measures. How do I add them?
O: Automatic Fibo measurements provide an indicator of Fibo Managerwhich is a separate tool. It needs to be downloaded and installed. An Arrows-compatible version (v2.22), which did not colour the chart, was available at the link: FiboManager.
Q: How do I install Fibo Manager (`.ex4` file)?
O: Downloaded file .ex4 should be copied to the folder MQL4Indicators inside the Data Folder of your MT4 platform (File -> Open Data Folder -> MQL4 -> Indicators). Once copied, restart MT4. Then find the Fibo Manager in the Navigator (Indicators section) and drag it onto the chart M3where the Arrows already operate.
Q: Does Fibo Manager work on a demo account or with a broker other than Orbex?
O: Fibo Manager is often part of the Orbex toolkit and its full functionality (especially older versions) may require an active, funded account live with this broker. On demo accounts or with other brokers, it may not work or display a notification to activate your account with Orbex.
Q: After adding Fibo Manager, the chart changed colours / looks different.
O: Older versions of Fibo Manager may have automatically applied the Orbex template. When adding an indicator to a chart M3, check its settings ("Inputs" tab) and ensure that the "Use Orbex template" (or similar) option is decorated. The version 2.22 linked above should not change the appearance of the Arrows chart by default.

IV. Technical Problems with the RB Chart (M3)

Q: Chart M3 Offline with Arrows shows "Waiting for update". What to do?
O: Make sure you have an active connection to your broker in MT4 (status in the bottom right corner). Try restarting the MT4 platform. Also check that the strategy Arrows_Fibonacci is activated only once per instrument (on a single M1 chart). Running it multiple times for the same instrument can cause conflicts and chart generation problems M3.
Q: The MT4 platform with Arrows works slowly, stutters, "freezes up". What could be the cause?
O: Check a few things:
- Number of open charts: Limit the number of simultaneously open charts, especially those with Arrows. Each chart opened M3 requires the generation of RB data in the background, which consumes computer resources.
- History on the chart: In the MT4 options (Tools -> Options -> Charts), try reducing the maximum number of bars in the history and chart.
- Computer/system condition: Make sure your computer meets the requirements and is not loaded with other processes.
- Specifics of macOS: On a Mac, performance may depend on the emulator used (Wine, Parallels). The generation of RB charts in the background by the emulated MT4 process may be more resource intensive.
Q: On the chart M3 a double graph or other visual artefacts appear.
O: The most common cause is the mistaken uploading of strategies Arrows_Fibonacci on the M1 chart more than once for the same instrument. Ensure that the strategy only works once per instrument per M1 chart.

Please note that answers are based on information contained in the chat history (up to 2025-04-18). The latest information may be available on the Challenges page or provided by the presenters.