ChannelsFIBO - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
Variation of MA_Channels_FIBO indicator by unknown author. The original version has flaws due to repaints.
The ChannelsFIBO indicator solves the redraw issue. Moreover, the speed of calculation of indicator values has also been increased several times.
The idea of this indicator is to find the maximum deviation of price from a selected moving average within a specified range. Offset found — 100% of channel. Based on this offset, lines are calculated using a user-selected percentage - up to four lines inclusive.
Attachment download
📎 channelsfibo_ad.mq4 (23.59 KB)
Source: MQL5 #14638
ChannelsFIBO - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
ChannelsFIBO - MetaTrader 4 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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