AutoFibAutoTrend_OnParabolic - MetaTrader 5 script
This indicator plots price channels and Fibonacci horizontal parabolic zigzag crests based on the latest data.
This indicator requires the compiled ZigZagOnParabolic.mq5 indicator file. Place it in <terminal data folder>\MQL5\Indicators.
Figure 1. AutoFibAutoTrend_OnParabolic indicator
Attachment download
📎 autofibautotrend_onparabolic.mq5 (31.46 KB)
📎 zigzagonparabolic.mq5 (8.33 KB)
Source: MQL5 #16692
AutoFibAutoTrend_OnParabolic - MetaTrader 5 script usage and screening recommendations
AutoFibAutoTrend_OnParabolic - MetaTrader 5 script is a resource related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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