Automatic Fibonacci Indicator (Auto Fibonacci) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Head west to east and try reading Fibonacci line values or find the automatic Fibonacci indicator in MetaTrader! To no avail!
One of my clients asked me for a tool that uses Fibonacci lines and automatically finds higher highs and lower lows between 2 bars (starting bar to current bar).
There are many Fibonacci indicators out there, but I decided to make my own for you,
Hope you like it!
Figure 1. Fibonacci indicator
Attachment download
📎 fibos.mq5 (15.92 KB)
Source: MQL5 #1535
Automatic Fibonacci indicator (Automatic Fibonacci) - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Automatic Fibonacci indicator (Automatic Fibonacci) - MetaTrader 5 script | Forex 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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