Fibonacci Auto Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This indicator finds the minimum and maximum values within the desired time period and plots Fibonacci areas within these ranges. The highs and lows of the current trend are color-coded (sometimes it's useful to see changes in these extreme "trends").
Attachment download
📎 fibonacci_auto_channel.mq5 (4.7 KB)
Source: MQL5 #16488
Fibonacci Automatic Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Fibonacci Automatic Channel - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. 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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