Fibonacci Levels - MetaTrader 4 Script | Forex Indicator Downloads - MT4/MT5 Resources - MetaTrader 5 Resources
This is an indicator that plots Fibonacci levels as indicator indexes.
As shown in the figure, Fibonacci levels depend on the continuity of the highest high and lowest low and a specific number of bars that you enter in the indicator input.
Please note that in the above image, the indicator line moved by 3 bars, you can modify the movement freely from the input.
Attachment download
📎 fibochannels.mq4 (7.64 KB)
Source: MQL5 #15321
Fibonacci Levels - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Fibonacci Levels - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 resources are resources 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 on titles or short-term profit descriptions.
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