Fibo_Average2 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Fibo Average2 is the second version of the Fibo Average indicator. It shows a moving average calculated using bar prices and excursions from the current price via Fibonacci numbers. Additionally, it displays the second moving average calculated using any of the eighteen moving average calculation methods using data from the first Fibonacci moving average.

There are four input parameters:

Calculation example:

If the number of Fibonacci numbers (FiboCount) = 8, then

FiboMA = (Price[i] + Price[i+1] + Price[i+1] + Price[i+2] + Price[i+3] + Price[i+5] + Price[i+8] + Price[i+13]) / FiboCount

MA = MA(FiboMA, period, method)

Price = FiboMA Application Price

Attachment download

📎 fibo_average2.mq5 (39.01 KB)

Source: MQL5 #23107