ZigZag Automatic Fibonacci - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This indicator is designed to plot Fibonacci retracements based on the ZigZag indicator. I converted from this Metatrader 4 code https://www.mql5.com/en/code/18078
Attachment download
📎 zigzagautofibo.png (21.75 KB)
📎 fibozigzag.mq5 (9.03 KB)
Source: MQL5 #50652
ZigZag Automatic Fibonacci - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
ZigZag Automatic Fibonacci - 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 on titles or short-term profit descriptions.
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